Many people think about selling their home this time of year but figure it makes more sense to “get through the holidays” and list it in January. That’s not necessary and in fact, this approach can backfire and result in a lower sales price.
There are at least 10 very good reasons why winter can be a great time to sell your home. Check this out:
1. Fewer Listings = Less Competition
People who *need* to buy at this time of year typically don’t have many homes to choose from. This means that more of the available eyeballs will be on your home.
2. More Serious Buyers
Only people who are serious about buying a home will go choose to go looking for one in the winter. This means it’s less likely you’ll be wasting time with “tire-kickers.”
3. Winter Decorations = Instant Warm Fuzzy Feelings
Few people can resist a home that is warm, cozy, and full of good smells, with the fireplace going and some classy decorations. This means it’s not the time to display every holiday ornament your now-grown child ever made you in elementary school.
4. The Typical January Uptick in Listings
Those folks who had been thinking about listing their homes but wanted to wait until after the holidays? This is them, pouring into the market. This results in your home being seen as just one of many possibilities for buyers, instead of as a select opportunity.
5. Scarcity = More Negotiating Power for Sellers
Buyers at this time of year often need to nail down a purchase but want to put off moving so they can savor their final holiday celebrations in their current home. This means they may be willing to pay more to get the deal done. They may also be more willing to permit delayed closings and extended occupancy.
6. Holiday Emotion Works in Your Favor
Buyers who believe your home checks all the boxes on their wish list *and* who picture themselves making new holiday memories in your home are already sold. When reason/logic and emotion combine, the effect is powerful.
7. Tax Deadlines
Closing the sale on a new home by December 31 means buyers can deduct some closing fees, mortgage loan interest, property taxes, and points on their home loan from their income tax return. These deductions are significant, especially in the early years of your loan when most of the mortgage payment goes towards paying off loan interest. This can be yet another factor driving buyers’ motivation.
8. Holiday Breaks = More Time to Look
Buyers with school-age children often have winter break periods of two weeks or more. Many parents take a vacation during this time. In addition, some companies temporarily close between Christmas and New Year’s. These breaks can provide buyers with more free time to look at houses than during typical work weeks.
9. January Job Starters
Companies historically hire in late fall/early winter and have employees start after the new year. These employees will want to be settled before starting their new jobs. This means you’ll need to list your home in early winter to appeal to these buyers and accommodate their timelines.
10. More Convenient Showing Schedule
Instead of having to have your home available for showings at all times, you can reserve holiday dates as “days off.” This means you don’t have to have your family celebrations disrupted just because your home is on the market.
I hope I’ve convinced you that there are many positive aspects to listing your home during the winter. If you’re ready, let’s get your home seen and sold! Contact me today