Are you trying to decide when to put your home on the market? If so, you may be tempted to wait until spring or summer. These are the most popular times to sell, and conventional wisdom says they’re also the best—but that’s not necessarily true. In fact, many sellers who choose to list when the temperature drops find that there are some unique advantages to doing so.
If you’re ready to sell your home, here are four reasons to consider doing it in the winter…
1) Buyers are serious about closing
Winter buyers tend to be highly motivated. In most cases, they’ve been looking for the perfect house or condo since fall—and now they’re ready to make a purchase. It’s worth remembering that the home hunt can be tiring, and few purchasers want to prolong the process through the winter. Not only that, but mortgage pre-approvals aren’t valid indefinitely (depending on the lender, they’re typically good for 60, 90, or 120 days). Renewing mortgage pre-approval can be a hassle, which provides added incentive for home hunters to close quickly.
Whatever their reasons for trudging into the cold to look at homes, chances are good that winter buyers are serious about making a purchase. For sellers, this eagerness can translate into a quick, convenient closing.
2) Your home can really stand out
In January and February of 2018, Toronto saw record-low levels of housing inventory. In other words, we were in a seller’s market. This is true of the winter in general, as fewer sellers list their homes at this time of year than during the fall. What does this mean for you? If you decide to put your home on the market during the colder months, you’ll likely encounter a lot less competition than you would during other seasons.
Far from getting lost in a sea of listings, your property has the opportunity to truly stand out in the winter. So don’t skimp on preparations—if you’re selling in January or February, there’s a good chance that your home is going to attract some serious attention!
3) Winter staging and curb appeal are powerful
Winter sellers often underestimate the power of staging and curb appeal. While seasonal flowers and an abundance of natural light can certainly impress buyers, so can a cozy atmosphere in the dead of winter. To boost your home’s indoor appeal, be sure to get rid of as much accumulated clutter as possible. Consider a fresh coat of paint (warm neutral shades work best at this time of year), and create a comfy environment with tasteful rugs, blankets, and throw pillows.
When you’re preparing your home’s exterior, start by clearing hazardous ice and snow from your property. Remove old leaves from your gutters to create a tidier appearance, and don’t forget to add some decorative touches (such as elegant outdoor lighting fixtures or a tasteful holiday wreath).
4) You can fetch a better price for your home
One of the biggest benefits of selling in the winter is the potential to get a better price for your home. At this time of year, home hunters simply don’t have as many options as they do during peak real estate seasons. As a result, you’ll likely have more buyers who will seriously consider purchasing your home. This interest may lead to multiple offers—which can drive up your sales price.
Whether your home is universally appealing or on the quirkier side, it’s bound to be more desirable when there are fewer listings on the market—and that could mean more money in your pocket.
Ready to sell your home? We can help you get the best possible price. Contact us and let’s talk about it!
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