If you're a homeowner who is thinking about selling your property, it's not just that age-old expression "location, location, location" that dictates your return on investment: There's another adage you have to think about: "Timing is everything."
Simply put, there are some times of year when you can get top dollar for your property, and others when competition will be relatively muted. Of course, there's no right answer for, "What's the best time to sell my home?" A lot of that will depend on your unique circumstances or needs. However, we can help point you in the right direction, so read on to find out more.
One of the most common things you will hear about selling a home, according to On Property, is that it's best to do it in the spring. Certainly, that's when a lot of shoppers are on the market and people are more willing to leave their homes because of how nice the weather is. However, if a larger number of homeowners heed that advice and attempt to sell in the spring, that may keep your asking prices depressed — even if there are many shoppers out there.
On the other hand, experts say it can be wise to sell in the autumn, because people are just coming out of the holiday season with renewed vigour for the new year, and the weather is still quite nice without the summer heat. Plus, with fewer sellers on the market, your home may stand out more.
One thing is universally agreed, though: Selling in winter is generally not advisable.
The good news for sellers — regardless of what time of year it happens to be — is that the housing market in Australia in 2021 is extremely strong. CanStar explained we are perhaps on the precipice of a historic housing boom, which creates a strange situation for would-be sellers: Do you sell now while supply is short and buyers are numerous, or wait several months for home prices to rise even more? This may also depend on where your home is: Some regions of Australia (such as major cities) are likely to see a strong comeback after a slower period during the COVID-19 pandemic.
Again, there's no single right answer, as the ideal situation for you is heavily dependent on your situation, but this is certainly something homeowners should consider.
You may be wondering what factors impact your specific need (or lack thereof) to sell in the near future. McGrath noted that these can include whether you have to relocate by a certain date, whether your family is growing, what your personal finances look like and personal preference regarding your current living situation. For example, if you have a new baby due in September, you'll want to make sure you have enough room as you upsize to a new home. In that context, it's ideal to get the buying and selling processes rolling simultaneously, giving yourself at least a few months to get through everything. But if your needs aren't that pressing, you may have other options.
Whenever you're thinking of selling your home, it's vital to work with an experienced real estate agent who has been through countless sales and helped many clients get the best possible deal for their property. At Ray White Surfers Paradise, we do everything in our power to set you up for success and get you the kind of deal you deserve. Get in touch with us today to learn more about what we can do for you.