Know your market
If successful businesspeople around the world have one thing in common, it’s knowing their market. Having a thorough understanding of who your buyers are and what they are looking for in a property should be the first step in determining when to sell. Thinking about your buyers, what their schedules might be like, and what their hobbies are can assist you in thinking about how and when to present your home to the market.
What is the personality of your suburb, and what draws people to its location? If your property is nearby to gardens or the seaside, for example, it may be more enticing to buyers in warmer months. Conversely, sprawling, leafy properties with a fire going are inviting and homely in winter-time. Many of us simply sell when we need to, so factor in any maintenance that might need to be done and whether you can realistically achieve it. What’s more, if this presentation maintenance is not a major value-add to the home, you might find yourself quickly burning a hole in your pockets when you don’t need to.
Buyers know Best
There are many things you have control over when it comes to your home, but buyers are not one of them. Take into consideration how State and Federal Government reforms and incentives might influence or dissuade a buyer from purchasing. If you’re selling a flat or townhouse, you may well entice younger buyers applying for the FHOG (First Home Owners Grant), which is worth considering if you will be selling close to a new calendar or financial year.
Competition is Key
While it might seem like a great idea to sell during Spring, popular times as these are actually much more competitive times to sell. Your property will experience significantly less competition if selling in the cooler months, compared to September —November. Selling during colder months often means the buyers who attend open inspections or auctions are much more serious about making offers, rather than the spring stickybeak. Think about quality vs quantity, and the perks of selling during these off-peak seasons such as January, June or July.
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