It is hard to know when the right time is to sell your house. With property prices continually on the rise and the demand for houses high, this seems like a great time to sell. Additionally it seems as though the market is not due to slow down anytime soon. But can you sell your house during the holiday period? Does buyer interest in homes wain over this time due to other priorities, or does more time off from work mean more viewers?
Shopless investigates the pros and cons of selling your house during the holiday period.
Pros of Selling During the Holidays.
There are Less Homes on the Market During the Holidays
The holiday season can be a difficult time to get your house in order when choosing to sell. Subsequently there is a lull in home sales during this period. Investopia stated when talking about the northern hemisphere that there is a lack of competition in the holiday season. This is similar in New Zealand, trends show that people tend to wait until after the holiday season to list their homes. Mid-late January there is often a boost in homes on the market.
Buyers have more time to View houses
Many articles state that there is more time for people to look or view homes during the holiday season. As many New Zealanders take holidays over the Christmas and New Years period. Viewers are able to attend open homes during the week, or even spend more time researching the home that they are interested in. An article on Stuff suggested if you are thinking of listing a bach or holiday home, the holiday season is the best time. They stated that as people are moving to the holiday destinations during this time. The interest in purchasing should peak. This can also apply to any location, as those from out of town looking to move in the New Year will be available to attend in person viewing of homes.
There is a Peak in Overseas Buyers
For people coming into New Zealand in the New Year and expats looking to purchase in New Zealand, the holiday period is an optimal time to purchase a house. Often buyers have secured a job to start in the new year and can then look to purchase a home. The move-in date will ideally line up with a job start date. A New Zealand herald article stated that the Christmas and New Year peaks for home purchases for kiwi expats. And can be a really positive time for a home sale.
Cons of Selling During the Holidays.
Keeping your Home Tidy
One downside of selling during the holiday season is the constant need to keep the house tidy for viewings. Often in the spirit of the season New Zealanders decorate their homes with Christmas lights and various decorations. Additionally we tend to have more social events or people through the home due to the holidays. Keeping your home presentable for open homes, or random viewings can be difficult. And the general business of Christmas can impact our ability to maintain a tidy home.
Some sellers also have a preference for not putting out personalised items in the home, particularly for when open homes are occurring regularly. Personalised Christmas decorations or cards must then be removed on each view. Making the process time consuming and disruptive.
Limited Availability of Real Estate agents and Professionals
Over the holiday period often companies have a shutdown period, where their staff take holidays. This is quite common for real estate agents and other necessary professionals such as lawyers over this time. Ensuring that you communicate with your real estate agent that you want your home to be sold or viewed over the Christmas period is a good start.
Sometimes they will have limited agents working over that time, or viewing by appointment only. You would also need to check if professionals such as lawyers are available if your home were to sell during the holiday period. So a higher level of organisation is required if this is the time you would like to list your home.
Shopless has investigated the pros and cons of listing and selling your home over the holiday period. Maybe you are looking to buy a home. Or take a listing privately. Make sure to check out the property section of Shopless, for selling or buying a home.