There seems to be a general consensus of opinion that winter is the worst time of year to sell a property, with many home owners choosing to wait until spring when the garden looks nicer and the house looks better and the days brighter and warmer. But is winter actually a bad time to sell your property?
We believe there are a number of very good reasons why you should consider listing your property for sale during winter. If you look at the current market trends in Orange demand is still high and good quality buyers are still out there looking. The interest rate is still at a record low rate so it’s a great time to be paying off a mortgage.
The investors are still looking to buy in Orange and the level of enquiry from them continues to be very high. Our agency’s vacancy rate is currently hovering at around 1% and the current market rent prices are good offering good return on investment. Continued low vacancy rates will mean more upward pressure on rent.
Also, Orange is continuing to grow as a regional centre which means that people are moving here for a number of reasons and are looking to buy property here and investors recognise the value of investing here. Our city has a lot to offer in terms of lifestyle, employment opportunities, good quality health services, great schools, tourism and recreation and this is very attractive to people looking to move to regional areas.
Taking these into account, then simple supply and demand says that there is no reason not to list going into the winter months. The buyers are there, and they have money to spend. If other sellers are holding off until spring, why not beat the rush and put your property in front of the buyers that are looking now and will continue to look even though it’s winter? Basically, you will have less competition from other properties, so you get more of the buyers to yourself.
Another way to look at it is from the point of view of risk versus reward. Is it worth waiting until spring hoping that the market will continue to grow and there will be more demand for your property or by doing that are you taking the risk that the market might cool off by then and you might actually have a better chance of selling in the coming winter months?
Of course, if you do decide to sell your home in the colder months, it is worth thinking about how best to present your property, to take people’s minds off the cooler weather, and grab even more of an edge on the competition.
Decorating with heavier fabrics and throw rugs can make a home seem warm and inviting, while the use of darker colours can add to the cosiness. It also helps to enhance winter features, by making sure natural or gas fires are operating during inspections. While in the hotter months you want to make your home as neutral as possible, maintaining that warmth in winter might just make a difference.
Homes that get great winter light can really stand out during the cooler months. If you are lucky enough to have a northern aspect that’s fantastic and it’s the perfect time to make the most of it. Those west-facing windows that were a problem in summer can be a real bonus through winter. Draw back the curtains and blinds on all windows and let as much light and warmth in as possible.
Here’s what our expert agents say on this matter:
“Living/dining areas with a northern aspect are best showcased in Winter when the sun is streaming in so it’s great to make the most of that. Everyone is on the same level garden wise during Winter so that can effectively be removed from the equation and in my experience, people don’t choose the time of year to relocate when it’s in relation to work opportunities or a family breakdown, these happen all the time and are certainly not seasonal.”
“Winter is a great time to sell in an active market. We still have very active buyers in the market, both owner occupiers and investors who want something now. People tend to want to wait until Spring to sell their house because their gardens look great and the houses are warm. However, with everyone doing that, it increases competition. Selling in Winter creates more competition amongst buyers because of less stock available. Meaning, you may achieve a higher price for your property, then what you would have if you sell in Spring.”
In the end, the decision of when to list is yours and we recommend you look at your personal circumstances and list when you are ready to sell, whichever season that may be. Our agents are always happy to chat with you and share their knowledge and expertise on these things so please feel free to call them anytime.