As we approach the end of the year we are often asked- “When is the best time to sell?”
Well your decision to sell is a personal one. Lifestyle changes are often the reason behind deciding to sell. You may be relocating, upsizing or downsizing and working out the perfect time to sell can be daunting, especially for first time sellers.
What should you consider when deciding to sell?
You should always consider your own personal objectives, your ability to finance a new property, to meet ongoing repayments and capital gains tax implications for selling an investment property which will often give you a good indication of when a good time would be.
Should market conditions impact your decision to sell?
It’s all relative- if the market is experiencing a decline, you may get less for your property than you had hoped for. However, you will probably pay less for property you intend on purchasing and vice versa when the market is peaking.
Is there a preferred season to sell?
All seasons have benefits when it comes to selling. Summer, after Christmas, many realise they have outgrown their home, some relocate to start a new occupation and some like to start the new year with an exciting change. There is always demand for property at this time of year. Those preparing to sell can use holidays to their advantage and prepare their property for sale.
Autumn, the garden always looks gorgeous at this time of year, the weather tends to be cooler than previous months and the kids are back at school which makes it a great time to hit the market.
It is often perceived that Winter is not a good time to sell. However, due to a decrease in properties on the market at this time of year, which makes it a less competitive selling market and a competitive buying market which can greatly benefit home owners.
And of course Spring! It is always a busy time of year for property transactions, the weather fines up again, the garden looks great and you can make a move before the end of the year.
In summary, the decision to sell should be a personal one and if you have decided now is the time then the rest should fall into place.
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