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New year, new property?
- AuthorGemma Nie
New year, new property? Why is January a good time to prepare to sell your property? Our new article looks at why.
January is the time of the year we all start making plans for all those things we hope to achieve across the year laid out in front of us.
What better time could there be to decide if the house you are in is the home you want to create more family memories in. In this article, we look at why January is a good time to start preparing to sell and just how you can do that.
The market refreshed
Traditionally the housing market takes a small decline from October through to December, before a rush of property is added in the spring. This is thought to be due to people not wanting to move in the lead-up to the festive season, but it is also understandable that the thought of trying to transfer all of your valuable possessions from one house to another on a cold winter's day is not one to warm many hearts.
Come the New Year, people start to look once again at taking that first step or the next step on the property ladder. If you're looking to sell within the year, now is the time to start making those plans a reality, letting you get on the market before everyone else. The sooner you get your property on the market, the sooner you can instruct a conveyancing solicitor who can begin to prepare the initial documentation you will need to sell your home, helping to speed up the process.
The vast majority of homeowners who choose to sell do so in the spring, leading to a very busy market full of competition for those looking to sell. It becomes a buyers' market, which can lead to deflation in the price you may have hoped to achieve. If you have a valuation, you aim to sell or need to meet to make a move worthwhile, this could take longer during this period.
There is also more chance of being stuck in a property chain when the market is busier, extending your selling process, as there will be more parties and properties involved. The conveyancing process for a buyer is typically longer since it is more complex. Selling in the early part of the year allows your property to be seen before others join the marketplace making it far easier for your property to achieve its potential, and it is likely you will be earlier in the chain. As the market becomes more saturated, the time it takes for conveyancing also becomes longer, meaning you could wait months before you complete on your new property.
Getting ready to sell
Selecting your conveyancing solicitors early on can help you find the right team for you, making it easier along the way to have open communication. As a seller, conveyancing has fewer steps but instructing a solicitor when you decide to list your house allows the paperwork to start early and hopefully prevent delays when a buyer is found.
A big part of moving home is being ready for the actual moving day. So why not take advantage of the colder weather and that natural tendency to want to stay indoors to declutter? Clearing out those things you no longer want or need helps you make things easier when it comes to moving and will have the added advantage of making the presentation of your home for sale so much easier too.
New year, new property
So, if you’re considering selling, why don’t you start getting ready now? Adding your property to the market before there is more competition could lead to a better sale for you. The sooner you begin finding and instructing a conveyancing team, the smoother the process is likely to go. Plus, getting your home ready is a perfect New Year’s resolution!