When Should You Sell Your House in Birmingham?
Deciding when to sell your house can be a daunting task.
Every homeowner aims to get the maximum return from their property and to time the sale according to what's best for their family. So when is the perfect time to sell your house in Birmingham?
When It's Right for You to Sell Your House in Birmingham
Though it may seem like a no-brainer, it's crucial to remember!
Many sellers get entangled in the concept of the ‘perfect timing’ to sell their house and overlook their family's readiness.
Even though selling during the summer months may seem less ideal, it could be the only practical option for families with school-aged children. Forcing a move when it's not suitable for your situation could lead to unnecessary stress.
Preparation for selling a home can be quite exhaustive. Your property must be decluttered, cleaned thoroughly, and possibly redecorated with a neutral colour palette to appeal to the widest range of buyers before any photographs are taken or viewings are scheduled.
Evolving Market Conditions
A decade ago, offering advice on when to list a home would have been straightforward.
Spring was traditionally seen as the prime time, with the Easter period often experiencing the highest sales activity. Conversely, Christmas was considered the least desirable time as potential buyers preferred to start their home search in the New Year.
However, the housing market has significantly evolved. Thanks to virtual tours and a present shortage of homes, buyers are now more flexible and even ready to move at what were once considered ‘inopportune’ times.
Spring
Spring remains a popular time to buy and sell properties. The arrival of the new season often motivates us to seek a fresh start in a new home.
Finalizing a sale in spring allows us to enjoy the summer in our new abode.
Summer
Selling your house in Birmingham during the summer allows you to present it in the most favourable light. The long daylight hours are perfect for late viewings, and photos taken in this season can really highlight the property's features.
Homes targeting young couples and seniors tend to fare better in the summer months, as families are usually busy with school holidays.
Autumn
Autumn is an excellent time to sell a home and have everything settled before Christmas.
When marketing your house in the autumn, ensure it feels warm and inviting, letting prospective buyers envision a cosy winter in their potential new home.
Winter
Historically, winter has been viewed as the most challenging time to sell a property.
The market typically slows down from mid-October, with potential buyers reconciling with spending the festive season in their current home.
However, selling in the winter has one massive advantage: less competition. As a result, committed buyers are more likely to consider your property than they might during the more competitive spring or summer months.
Consider Market Forces When You Sell Your House in Birmingham
Before deciding to sell your house in Birmingham, consider who your target market is.
A two-bedroom property is likely to appeal to young couples, who might be more flexible with their moving dates, especially if they do not have children.
On the other hand, a bungalow will probably attract older people or those looking to downsize after their children have left home. These buyers may be less inclined to move during winter, so aiming for a spring or summer sale could be the best strategy.
Economic Climate
The housing market is known for its volatility. Despite this, it has shown resilience and consistently bounced back, with house prices increasing an impressive 8.5% last year, even amidst economic challenges.
Sellers should be mindful of schemes like the 5% mortgage deposit. This scheme could tempt buyers during traditionally less popular times of the year.
Local Developments
Buyers are not just interested in your house; they're evaluating the area.
For example, if a top-tier primary school is being built, it could be beneficial to wait before listing your home. High-quality schools can substantially boost property prices and broaden your target market.
Conversely, if there are plans for something that could decrease your home value, it might be better to act quickly.
Are you ready to make a move? At The Place are your local property experts for the Birmingham area.
Call us on 0333 358 0668 or email info@at-the-place.com.
