Sell For Summer
For those looking to sell a property, the busiest period of the year for buyers and agents is over the summer holidays. However, getting your property on the market before the busy summer period does come with a few benefits for sellers and can help secure you a better deal on your property. So we’ve asked our Senior Sales Valuer, Levi, what are some of the benefits you get when you sell for summer.
Summer family availability
When selling a property it is important to consider the requirements of potential buyers. Especially for multi-bedroom homes, families looking to buy these properties are limited in when they can look by the academic year. While some families choose Christmas or Easter holidays to do some property hunting, the majority will choose the summer holidays to find the perfect home. This is because of a few advantages families looking to buy have in this period such as more time off work. Furthermore, if a property is brought to market before the summer break potential buyers will have the guarantee that any sale will go through before the kids need to go back to school.
Seller’s market
With there being a current shortage of housing stock there is a massive amount of demand from the side of buyers looking for places to live. Although we are in a seller’s market there will be periods where the availability of houses increases as more are brought to market. The summer holidays are one of these periods and provide buyers with more options to choose from. This competition can limit the price some buyers are willing to pay for a home as there are other options available. If you preempted this period of increased availability however there would be less competition between you and other sellers and can increase the sales price of your property.
Student HMOs
If you are looking to sell a Student HMO then getting it on the market before the summer holidays can make it that bit more attractive to HMO landlords. This is for two main reasons. Firstly, a potential buyer will show more interest in a property that they have enough time to complete any remedial works and safety compliance measures. If this process is rushed it can lead to costly errors which HMO landlords would look to avoid. Secondly, if a student HMO is put on the market before the summer holiday it is likely to find tenants for the upcoming academic year. A HMO that is likely to have a substantial void period is a financial burden for buyers and can lead to a property being left on the market for longer.
Overall, it can be very beneficial to get your house on the market before the summer period. Doing so can maximise the number of potential buyers while limiting how much competition you’ll have with other sellers.
If you or someone you know are thinking about selling their property feel free to get in touch with us here.
