At times people don't have a choice on when they sell because life dictates their circumstances. In these cases, you'll want to follow these tips for selling a home in the winter. Use the advice at Maximum Real Estate Exposure to enhance your odds of success.
Which would you rather go for the winter or summer?
When you can choose what season to sell in there are always considerations worth thinking about. With every choice, there are pros and cons. It's no different from every motion we make in life.
In this article, we will look at the pros and cons of selling a house during the winter. You might think there are no advantages because real estate markets across the globe usually experience what is called "the spring rush"; there are advantages.
Here are the Pros of selling your home during the winter.
Pro number 1: Reduced competition
In the real estate market, competition is a factor that cannot be directly changed or altered. While many people might rather scout around during the spring and summer to get the houses of their choice, it will do you much good to reserve yours for winter.
This is why
There will likely be a lesser amount of houses available for sale during winter. This will mean that a higher percentage of the buyers looking will come to view your home. With decreased competition, there is a higher probability that a buyer will choose your house during the winter season.
The fewer houses buyers have to choose from, the higher the tendency that you will get an offer on your home during the winter season. You can also expect to get closer to the asking price. This goes back to the buyers not having as many options to choose from, meaning they have less leverage.
The lesser the supply, the higher the demand! That's what it is in this case.
Pro number 2: The transaction will be quicker
During the winter season, for both buyers and sellers, there would likely be fewer real estate transactions. This is because there will be less houses for sale and potentially not as many people looking to buy. In the same vein, the mortgage lenders will have fewer loans to process, and as a result, title and escrow companies will most likely have fewer closings.
This implies that overall transactions will be quicker and easier than other seasons; because of smooth closings for both parties.
The seller will be ready to sell because the buyer will be ready to buy and vice-versa.
Pro number 3: You will encounter serious buyers in the winter
No matter the time of the year, serious buyers will keep up their search for suitable homes put up for sale. When you encounter a buyer during the winter season, it will more likely be a serious buyer motivated to solve a pressing need. The urgent need might be sponsored by relocation to work from your location, a growing family, or another reason.
The role you have to play is to ensure that your home put out for sale has everything intact and in place. Should repairs be needed making sure, they are attended to quickly is of the utmost importance.
Pro number 4: Hiring a top real estate agent that has more time for your property will be likely
Real estate agents are instrumental in sealing the deal. The chances are that sales during the winter season might have fewer difficulties in recruiting top estate agents. Hiring a realtor and the "off-season" means that they will have more time to focus on your property then they would other times of the year. Bonus!
Pro number 5: Home Staging
Home staging is not a camouflage; it merely refers to your ability to utilize the furniture and decorations in your home to be visually appealing. During the showings, buyers often envision themselves in the house to be bought. However, one common feature of all buyers is that they long for perfection.
To this effect, you might decide to do some seasonal staging, such as adjusting the color of your house and putting other suitable decorations in place. If you don't have a lot of funds to work within your budget, you'll want to use some of these cheap home staging tips.
Having listed some exciting features about selling your house during the winter months, here are some disadvantages.
The Downside of Listing Your Home around the winter season
Con number 1: The Winter Weather.
Okay. We cannot omit this fact. The fact that people do not like being out during the winter season is a point for further consideration. It can make driving dangerous, depending on where you live.
Not everyone can have the luxury of living in Watercolor, Florida. Interestingly, winters mostly come with shorter daylight hours. (Now that's quite sad). People would rather cuddle up in the comfort of their TV than move around from place to place, seeking a home to buy.
Con number 2: End of the year financial obligations.
I know you can decipher the juice of the point already! Buying a home during winter is usually not the norm. Instead, a lot of people might not want to invest in a home during this period.
Alternatively, they might wish to sort out other pressing needs and fulfill other pending financial obligations. It does not matter the kind of incentives available. People might not subscribe to the option of buying a house during the holiday period.
Con number 3: people don't want to move around the holiday season
For many people, the holiday season is a stressful time of the year. Maybe, it's the most stressful time of year. To think of adding selling a home to the mix could leave some people on the brink of a nervous breakdown.
The same goes for buying a home. Trying to plan having company in town, decorating the house, and buying gifts are enough on most people's plates.
Selling your home during the winter might not be a terrible idea. It might just require that you tweak a few rules here and there. Why don't you try your selling that property of yours during winter? We will be glad to hear the outcome of it.
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About the author: The above article on the pros and cons of selling your house in the winter was written by Danny Margagliano, Danny has over a decade of experience in the real estate industry. He works for 30a Local Properties in Santa Rosa Beach on the beautiful Emerald Coast of Florida.
He specializes in working with residential investment properties and second homes. Danny also is the owner and founder of the Internet marketing company for real estate agents, Web Tech SEO. He’s a former professional surfer as well as a firefighter paramedic.