I recently suggested to someone that they shouldn't take too long to get their house on the market because things would be slowing down shortly for the holidays....and then I realized that's old school thinking, a knee-jerk response that doesn't necessarily apply to the realities of TODAY's market! We've been in a Sellers' market for so long here in the Durham region that in a lot of cases it's simply not true!
First off there are segments of the market that NEVER slow down, there is year-round demand for certain price-points, certain locations & homes that have certain features. With the ongoing shortage of inventory, the Buyers ARE out there, regardless of what time of year it is, just waiting for THAT home, the one they've been waiting for, to finally hit the market!
So let's look at some PROS of listing your home for sale during the Holiday season:
1. Homes FEEL more HOMEY during the holidays...the decorations, the lights, the smells, oh my!! Think about it, every year we basically "stage" our homes for the holidays, both for our own personal enjoyment & for entertaining family & friends. That staging, when it's done well, done tastefully, can invoke very powerful emotions in potential Buyers & that can translate into greater desirability for your home & often more money in your pocket!
2. The serious Buyers are out there looking & the tire-kickers are busy with the hustle & bustle of the season. This could mean that your open house may be quieter & there will be less showings booked but the quality of both those activities may be better!
3. There's less competition! This is a big one! The fewer homes on the market for those serious Buyers to choose from, the better it is for a Seller! Let's face it, regardless of which side of the transaction you're on you need to find & utilize whatever advantages you can!
4. And finally, if you're able to be strategic when choosing your closing date then you may be able to carry that advantage over to the buying side in the New Year...advantages like being ready, willing & able to jump on new inventory in January, not having to worry about a "sale of purchaser's property condition" otherwise known as the dreaded SPP & again, depending on your closing date, it could buy you time so you don't feel like you're "settling" when purchasing your next home. The flip side of this is that there are plenty of Buyers who would love to get in right away so if you need a quick closing, you're covered there too!
As for the CONS:
1. Let's face it, selling your home is a pain at the best of times but doing it over the holidays adds another layer of inconvenience because there are so many other things going on as well! You're trying to shop & wrap, entertain & recover and all the while you need to keep your home looking like a model, not to mention having to drop everything & leave when a showing is requested!
2. You'd better get it right the first time when it comes to pricing, presentation & promotion otherwise all the hard work & inconvenience will be for nothing....You never get a 2nd chance to make a 1st impression still holds true! Being successful in today's real estate market is so much more than just slapping up a sign on your front lawn & putting it on the MLS®! That first buzz, those first impressions...focus on the RIGHT things in order to maximize the value of your largest asset so that you can reap the rewards!
3. How you normally live in your home is different than how you will need to live in it when it's on the market...this holds true all year long but it bears mentioning again when it comes to how you decorate for the holidays...tasteful & restrained are the keys here! I always talk about the "HGTV" effect with my clients & the pressure for perfection that Buyers seem to expect as a result, so it should come as no surprise that your holiday decorating may need to be tweaked as well!
4. We live in a multi-cultural society & not everyone celebrates Christmas...or perhaps YOU don't celebrate Christmas....are you worried about turning Buyers off? Instead of being holiday specific you can still create that homey appeal with "winter" decorating touches!
Speak to your REALTOR® about finding a strategy that works for YOUR circumstances & they should be able to help you find a way to align it with Buyers' expectations. It CAN be done & done well regardless of what time of the year it is! And don't forget you do have the ability to control the process to a certain extent...while it's not ideal to limit showings, designating certain days or times that your home is not available will help you keep your sanity throughout the process, lol! ;)
Don't have a REALTOR® yet? Whether you're looking to buy or sell, call or text me at 905-447-4077 or email Kelly@HomeInDurham.ca , together we can go over your options & create the right plan for you!
Speak to your REALTOR® about finding a strategy that works for YOUR circumstances & they should be able to help you find a way to align it with Buyers' expectations. It CAN be done & done well regardless of what time of the year it is! And don't forget you do have the ability to control the process to a certain extent...while it's not ideal to limit showings, designating certain days or times that your home is not available will help you keep your sanity throughout the process, lol! ;)
Don't have a REALTOR® yet? Whether you're looking to buy or sell, call or text me at 905-447-4077 or email Kelly@HomeInDurham.ca , together we can go over your options & create the right plan for you!
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