It can be difficult to know when is the best time to sell your home in the midst of such troubling economic times. With the festive season over and January being a slow and quiet month this can be a great opportunity to move as you’ll have more free time which means you can start the year with a fresh start.
The property market tends to have a low supply at the start of the year which can be advantageous to sellers as it may mean that their property will sell fast in comparison to trying to sell in the summer months. According to Online Mortgage Advisor, properties being sold in the summer take 65 days on average to sell as opposed to January where they take 5 days less. The website also said that sellers may also receive offers that are “closer to your asking price than you might receive in the warmer months when buyers have so much more choice”.
While there are typically fewer people looking to move in January, it can be a good thing as people who are looking to move in January are likely to be more serious about moving house than other potential buyers. Conversely, with fewer people selling their homes in January, you’ll also face less competition from other sellers making it more likely that your property will stand out. With fewer sellers in January, you’ll also be able to sell your home faster meaning the overall process will be quicker.
January buyers are also often more motivated – they will often need to move house quickly due to life changes that people tend to make at the start of the year such as changing jobs or dealing with the fallout from a separation which may have happened in the month before. Facebook revealed that December is the busiest time for breakups and according to Business News Daily, “January and February are the most popular hiring months”.
On the practical side of things, removal companies are typically less busy in January in comparison to the spring and summer months and often offer cheaper prices throughout the winter months.
Choosing the right estate agent is also crucial and as spring and summer are busier periods for estate agents, you’re more likely to get a more thorough estate agent who will be more motivated to sell your property. They will also be able to take more time marketing your property and carrying out viewings.
In addition, the Daily Express say that “house hunters will often take to online portals for inspiration for their next house move”. Consequently listing your house will mean that you are not only placing yourself in the right place at the right time but also that you will “beat the spring influx when thousands tend to put their homes on the housing market.”
However, 2023 has been predicted to be a slower year for the property market after the boom following the pandemic over the last few years. This could result in a stalemate in the next few months “between some sellers who are in no rush to drop their prices, and affordability-strapped or hesitant buyers” commented This is Money.
Listing your property for sale in January can be challenging with colder weather making it more of a chore for buyers to view your property and the lack of sunshine can make it harder for your home to look appealing. With this in mind, we have put together our top tips for selling your home in January:
- Harness the power of Hygge. Hygge is a Danish concept that puts a focus on cosiness and comfort throughout the winter months.
When you are preparing for a viewing, try to encapsulate the feeling of hygge in your house by making it cosy so the potential buyers can really picture themselves living there. Put the heating on, light any fireplaces in the house – even some candles can make a difference.
- Don’t forget the outside areas. Many people make the mistake of thinking that the buyers won’t be too focused on their garden space if the weather is bad, but making sure that everything is tidy and looks as appealing as possible even in bad weather can make a difference to their decision.
- Maximise the lighting to display your property’s features well. It’s a good idea to have a combination of overhead and side lighting to show your property at its best.
- Consider if a lick of paint wouldn’t go amiss. Painting your property can make it seem like there’s lots of space and can make your property look more modern.
Overall, moving in January can seem like hard work, but if it’s looked at in the right way, it can be a unique opportunity to get ahead. With the help of an expert conveyancing team and the right estate agent, you can’t go wrong.
For more information, or to receive a quote, visit: www.attwells.com/conveyancing