Should you put your property on the market in the winter?
While it is true that the spring is the time of year that most people shop for homes due to the convenience of timing while kids are out of school and easier moving preparation in warm weather, studies show that putting your home on the market in the winter is not such a bad idea after all.
Think of it this way, most homeowners will wait until the spring to put their home on the market, therefore, if you do decide to put your home on the market in the winter, there will be less supply on the market. That equates to two positives for you, the seller:
- Less supply on the market reflects a stronger demand.
- There will be less homes that your home will have to compete against during the spring shopping season.
The other factors that you may want to consider is that the buyers who are shopping in the winter season are typically seriously interested in buying a home, as there is more of a sense of urgency (The winter is a big time of year for job transfers).
The winter market does not attract the buyer that is just looking at your home to take a look, the winter market typically has buyers that are seriously interested in purchasing.
Things to consider when listing in the winter:
There will be some downsides to listing in the winter no doubt, though you will have to meet them with proper preparation as a homeowner to overcome these objections from buyers.
- Curb appeal- the property will lose a bit of curb appeal when it is on the market in the winter, sometimes it does pay to have a photographer get a shot of what the property shows like on the exterior in the spring time if you have the time to prepare, or at least get a fall shot of the foliage. You will have to manicure the exterior properly and maintain general upkeep to hold some curb appeal, you don’t a second chance to make a first impression
- Buyers in the colder season are more likely to thoroughly inspect the utilities of the home such as the heating system, roof etc. due to the impending weather, so as the seller make sure that your utilities and structural components are well taken care of for the buyers in the winter season.
Other then these slight modifications, follow the instructions on my home staging tips post and make sure you adhere to standard home sale preparation guidelines such as de-cluttering, getting rid of odors, thorough cleaning, and fresh coats of paint. Always remember that brighter is better!