The Best Time to Sell a House
If you are looking to move to a new area or you simply think it is time to downsize or upgrade your home, you have likely considered selling your house.
There is always the option of renting out your property, but believe it or not, that can often come with more financial burdens than what you would expect.
Selling your home is a great way to avoid financial burdens and make some money that you can invest in your next property,
Many people neglect to consider that some times of the year are better than others for selling their homes.
At Lyons, we know something about selling your home. In this blog, we will detail the best and worst times to sell your house so that you are prepared for the process.
How the Time of the Year Can Affect Selling a House
Though you may not consider it, different seasons and months of the year can significantly impact selling your house.
You have to consider that at certain times of the year, people experience economic strain or are inundated with tasks because of the season, making buying a home their last priority.
It is not always thought of during the excitement of putting your home on the market, but if you want the best financial results, you should wait for the best time of year to sell your house.
The Best Time a Year to Sell a House
Spring is widely regarded as the optimal season to sell your house due to both practical and emotional factors.
Spring Represents New Beginnings
As humans, we are very easily influenced by tradition and what we associate with certain times of the year; after all, we have been told to do this our whole lives.
All over the world, spring has always represented new beginnings and fresh starts. It’s the time of year when we experience an influx of births, when people deep clean their homes, and when we all set goals for the year.
So, it is no wonder that the housing market booms at a time when people are so focused on new beginnings.
A Change in Outlook
In spring, we are just coming out of some of the more gloomy months of the season, when days are shorter and the weather is miserable.
When we enter spring, we see things in a much better light as the days become brighter and the trees and flowers bloom.
This season, the bright sun and the return of nature make homes look more appealing, influencing potential property buyers to purchase them.
A Guide, Not a Rule
Though it is true that spring is the best time of year to sell your home, you are by no means limited to selling your home in spring; it is possible for you to sell your property throughout the year.
However, if you are looking for a quick sale, keep spring in mind.
When is The Worst Time of Year to Sell a House?
You may have guessed it, but winter is considered the worst time of year to sell your house. This applies to December, January, and February. There are several reasons why this is the case, and here are just a few of them.
The Financial Impact of Christmas
Even if you don’t have a big family, Christmas is an expensive and busy period for everyone. It’s the time of year when families get together, parties are hosted, and a lot of money is spent.
When people are rushed off their feet and spending money at every corner, it is no wonder why they are not eager to invest in property. Could you imagine trying to move house in the run-up to Christmas?
Winter Blues
In winter, the days are much shorter and in the UK, the sun has usually disappeared by 4pm. That means that we don’t get nearly enough vitamin D, which greatly impacts our moods.
During the winter months, it is not uncommon for people to adopt more pessimistic outlooks, which may prevent them from making big financial decisions such as investing in a property,
What Can Impact House Sales?
Selling your property can be impacted by many factors unrelated to the time of year.
Government Policies
Changes to government policies can significantly impact selling a house. For example, many people depend on government schemes to purchase property, and with recent changes in power, nobody knows what will happen to these schemes.
The government also has a lot of control over tax incentives and subsidies, and changes to these can even encourage or discourage people from buying a house.
Changes to mortgages have significantly impacted the number of people able to buy a home, which may be a reason for your property’s selling difficulties.
The Condition of The Property
If you are having a hard time selling your property, you should consider whether external factors are responsible.
A possible reason you may be struggling to sell your property is that the property’s condition does not match the local market’s standards. If the house you are trying to sell is run down and requires a lot of work, there is no wonder why it won’t sell.
Before putting your property on the market, make sure that it receives all necessary repairs. If you are unsure which repairs are necessary, look at some tips for selling your home, which may help.
Changes to Stamp Duty
Stamp duty is a tax applied to all property transactions exceeding £250,000.
Stamp duty is expected to change in 2025, which could raise the associated taxes. If that is the case and the property that you are selling exceeds the £250,000 limit, this may dissuade people from buying it.
Location
Location is important to consider in the sense of how appealing your area is to prospective buyers, but it is also important to consider the local economy.
More often than not, someone who is looking to buy your property may already be from the local area.
Understanding the economic positioning of your local market and considering how much people are willing to spend may give you a better idea of the price you should be selling your property for.
What Type of Homes Sell Quickly?
If you want a better idea of what the housing market is currently looking for, here is a short guide to which properties are selling fastest in the UK.
The top-selling property types in the UK right now are:
- 2-bed terraced homes.
- 3-bed semi-detached homes.
- 1-bed flats.
- 2-bed semi-detached homes.
If your home isn’t selling as fast as you expected, it may simply not be in demand right now.
Sell Your Home With Lyons
Remember, though many external factors may impact selling your home, you can still sell your property throughout the year.
With the help of skilled estate agents, such as Lyons Estates, selling your home for the price you wish is not unattainable.
Get in touch with us today to further discuss how we can help you sell your home.