One of the most important factors that affect the demand and supply for the real estate sector is the seasonality of the market. Although you might not think too much about the influence of the seasons on the price you pay or ask for your home, estate agents in Maidstone and all over the UK unanimously agree that seasons make a huge difference. In some cases, it might be as high as 10%.
What are the best times of the year to sell your property or buy one?
According to the data collected through market research, January to March is not the busiest time of the year. But many people start looking for new homes right after the holiday season. As a landlord, you can take advantage of that and look for clients who are ready to move during the winter season. But do not keep your hopes up and expect miracles to happen, as it is just the time for a warm-up for far busier times ahead.
A real estate writer recently stated that, if possible, one should avoid any kind of buying or selling in the first quarter of the year altogether. While it is true that the prices of houses and apartments are relatively low at this time, it is still considered to be too high for people who are truly invested in buying or renting your property and moving in the sub-zero environment.
Spring to Summer
This time of the year is considered to be the best time for listing your property for selling or looking for properties to buy. As per recent studies, this time of the year opens a magic window for the real estate business. New colleges start, and the common six-month tenancy agreements come to an end. This makes the months of June to August the ideal time for landlords to fully gain benefits from their rental property. People choose this time of the year for many factors, such as:
Moving before the new school year
Switching homes take up a lot of time which majorly goes into planning and organisation. In such situations, people want to settle before school starts. This buys them enough time to get used to the new home and its surroundings so that kids can focus on their academic activities later on in the year.
Favorable weather for viewing and moving homes
The months of spring and summer are the ideal time to move and landlords need to take this into account when planning to list their properties for rent or for sale. There is no way for people to go out of their houses in rain and snow or move things during a winter storm and rain showers. So people wait for the springtime to arrive so that they can begin a new life in their new home.
Buyers receive a tax return during this time of the year
As a landlord, you need to anticipate when your potential buyers will have more money in their hands. Hence spring is the time when people get their tax returns and tend to stretch their budget. With their winter savings, they begin to consider a new lease contract.
Which seasons should I avoid when selling or renting a property?
Real estate experts say that the sharp fall in the sell and rent starts in September because by then, most buyers have found a home. It is also the onset of the holiday season and affairs of buying a home takes a back seat for the majority of the population. Once the weather starts to get colder, the days will become shorter. The temperature drops, and people prefer to stay home which implies less foot traffic for sellers.
The most unfavourable time to sell a house or to list it for rent is December. Typically this month is a standstill for all kinds of home buying and selling activities as people get busy with holidays and travel to get together with family.
Tips for selling your house in the spring season:
Here are some tips that landlords can use to sell their property during the spring season:
- Clean out debris such as dead leaves from the garden before you hold any viewings or have any pictures taken of the property.
- If it is not too wet, then cut down the grass for a neat and clean look at the backyard and front yard.
- Make sure to remove all the winter grime and moss. Look for missing tiles and any damage that may have taken place in the winter season.
- Take a good look at the roof to check whether the snow has left any kind of damage.
- A fresh coat of paint or removal of any scruff mark across the house is also important.
- Replace the cupboard fronts in the kitchen.
- Consider redoing the grout and/or the tiles in the bathroom will give it a fresh and new look.
- If you are redecorating, then consider a neutral colour pallet.
- Give a deep clean to the house and remove all the dirt and grime that has accumulated in the winter months.
Tips for selling your property in the summer season:
- Tend your garden and mow down the lawn. Prune out all the shrubs and weeds. Make sure your garden is watered regularly, and summer is a great time to display the beauty of your garden, which will be a huge plus point for your house.
- Hire professional photographers to get pictures taken of your property in the sun.
- Make use of natural light whenever possible as it makes rooms and spaces look welcoming and warm.
- Weekends and summer afternoons are perfect for viewings as neighbourhoods are livelier.
- Try to be ready for viewings as quickly as you can since longer days will tend to bring later viewings. You can expect more visits from potential buyers at this time.
To Sum up,
Spring and summer are considered to be the best time for the real estate industry. We hope these tips were helpful for your selling or renting out of property this season.