How and when to sell your Home in 2015

Mon, Jan 26, 2015

Financial Advice

The global property market is continuing to enjoy a renaissance, as despite a sudden and unexpected decline in November experts are predicting steady and consistent growth throughout 2015. This means that many aspiring vendors from around the world will be presented with a window of opportunity in which to sell their home for a profit, so long as they make allowances for unexpected market shifts and understanding the underlying laws that govern buyer behaviour. Many of these trends are relevant across multiple Western markets, so consider the following steps towards successfully marketing and selling your home in 2015.

  • Avoid Selling During Months with Low Levels of Activity

As a general rule, there are traditionally a few months during the calendar year that experience minimal buyer activity. December and January provide a relevant case in point, as the festive period often prevents even motivated buyers from making their move in the market. August and September also see reduced activity, simply because the majority of families enjoy their summer holidays during this time. These trends even remain prominent during times of growth, so it would be unwise to market your property during these months. While you may have a greater mathematic chance of executing a sale, the lack of buyer competition will prevent you from achieving full market value.

  • Create a Realistic Valuation

If there is one single issue that prevents vendors from selling their home, it is a rigid and ultimately unrealistic valuation. The issue with this is that it physically prevents buyers from making a purchase, even if they like your home and are willing to pay the inflated asking price. While you have a right as a vendor to accept whatever price you and your agents deems to be reasonable, so too the buyer has a fixed financial budget that they must remain within if they are to achieve value for money. This means that you must be willing to compromise if you are to capitalise on existing market growth, and establish a fair valuation that guarantees a profit while also offering some incentive to buyers.

  • Consider all Market Options

Not all vendors are created equal, and some may be forced to sell having defaulted on their mortgage repayments, encountered negative equity or suffered from a reduction in income that renders them unable to afford their home. In this instance, you may need to consider alternative market options if you are to sell your home quickly without facing repossession or losing further value. The quick house sale market provides a relevant case in point, as experienced companies such as Property Rescue will buy properties in an extremely short period of time and enable you to recoup as much of your initial investment as possible. While they may complete the purchase for below market value, the price is still fair and the rapid turnaround compensates for any reduction in profit.

Planning to buy your first home in 2015 or move up the property ladder? You’ve probably been keeping a keen eye on house prices, but you’ve also got to watch what other buyers are doing if you want to time the market well.

Even in unusual years such as 2014, when frenzied buyers flocked into the housing market, the Land Registry’s sales data and the Bank of England’s mortgage approval figures showed that this same rough pattern still applied.

If the same trends emerge in 2015, January could be a great time to buy a property.

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