Every year we see a big rush of properties go up for sale in spring. The weather is improving, gardens are blooming, houses look better and feel warmer. Sellers are also motivated by timelines, wanting to move before the end of the year. No one wants to be on the market over Christmas!
This spring rush can result in a backlog of properties sitting on the market, with supply outweighing demand. Buyers can start to hesitate with so many homes to choose between. Owners end up competing with each other to secure the best buyers available. This can put downward pressure on prices and increase time spent on the market.
The antidote is, of course, to jump in early and beat the spring rush. To get your property on the market before the bulk of your potential competition. This way, buyers will be focused on your property, giving you a greater chance of securing a multi-offer situation and a premium price. Not to mention a quicker sale!
There are other benefits to moving quickly. You will be a cash buyer when the main rush of properties are hitting the market, meaning you’ll have your choice of homes to move to, increasing your chances of securing the right home to suit your family. Without a home to sell, you’ll be in a strong negotiation position with fewer potential conditions on your offers.
Why would I sell before I’ve found a home to buy?
It can be a scary proposition to sell without knowing exactly where you are going. But the advantage of understanding exactly how much you have to spend, combined with being able to secure a better deal as a cash buyer make selling first the strategy favoured by most experienced owners.
But my home isn’t ready!
It can be tempting to give yourself a long list of prep jobs to complete before you feel ready to go on the market. We naturally want our homes to look their best before buyers come to visit. At the end of the day though, buyers don’t expect a perfect home and they are most interested in the features you can’t change, like sun aspect, location and size.
The benefit of beating the spring rush and selling with less competition from other owners is likely to far outweigh the payoff of getting those last few window sills painted, or the back garden re-planted before you go on the market.
Ok, what do I do next?
It all starts with understanding the current market and making a plan. Get in touch today and we’ll make a time to sit down together and talk through the options. We are here to help you maximise the value of your biggest asset and increase your chances of a smooth, successful moving process.