MOST people think that spring is the best time to sell a home.
And vendors are often attracted to the idea of putting their home on the market in time for what is known as the spring selling season.
But the reality is that while the spring months can turn on some great weather, they are not necessarily the busiest months in terms of sales activity.
Seasonal factors usually play a minor role in the sale of property – which has more to do with supply and demand.
What generally happens in spring is that the supply of property on the market increases but demand may or may not.
An influx of properties onto the market means that buyers have more to choose from and hence reduce their offers in terms of price and conditions.
So despite the hype, spring can sometimes be a buyer’s market.
But that said, this time of the year brings with it a certain buzz. The warmer days mean that more potential buyers are willing get outdoors and inspect properties; and auctions tend to have higher attendance numbers. Activity in the market ramps up.
One of the biggest mistakes that sellers can make, especially in a buyer’s market, is not getting their home in the best possible condition prior to sale.
In the critical early stages after a house is placed on the market, first impressions are vital. A buyer with a negative impression will not be back.
For those who may be getting ready to sell this spring, or any time, here’s a minimum to-do list to help improve your property’s market appeal:
Street appeal – people see your yard as an extension of the house. An unkempt property that is in disrepair or in need of a coat of paint spells neglect. Tidy the yard, rake, mow and do whatever it takes to make a neat outdoor space. The addition of a few colourful pots with flowers and some pavers can do wonders.
Refresh with paint – this is the easiest and most inexpensive way to breathe life into a home, both indoors and outdoors. A coat of paint can lift the mood; change the character of a home; or add street appeal.
De-clutter – some of the best money you will spend is on renting a storage unit and getting the clutter out of your house. A clutter-free, simple arrangement allows for maximum impact.
Clean – make sure your house sparkles. And attend to any dampness or mould, as these are telltale signs that suggest possible leaks, unwelcome expenditure or future health consequences.
However, if you are not quite ready to put your home on the market, don’t stress – it could be to your advantage to wait until summer instead.
While spring has the reputation, research shows that the best time to sell a resale residential property, especially in Queensland, is in late summer – in fact, between March and May; while the best time to sell new property is in the first half of the year.
For more information visit www.matusik.com.au