For smart buyers, making their property purchase during the winter months means they can move in by summer, and before the annual holiday season.
While the colder weather tends to keep people indoors for longer, it does not keep serious house hunters away, according to the Seeff Property Group.
READ: Selling your home in a slow market? Avoid these costly mistakes
Selling during winter might seem counterintuitive compared to the bustling spring and summer months, but the off-season holds distinct advantages for sellers and buyers. At times we have even seen house sales increase over the winter months, says Samuel Seeff, chairman of the Seeff Property Group.
If you are thinking of selling, don’t wait until September as he says winter is an excellent time to list your property. Some of the best deals are often concluded during the winter. There is also no real seasonal price drops as prices are dictated by the broader economy and market factors, not by the weather.
Sellers may in fact enjoy several advantages such as fewer listings to compete with while those looking to buy are usually serious buyers rather than casual window-shoppers. These buyers are rarely just looking, and are often working with specific timelines in mind, whether it’s a lifestyle change or relocation for school access, making them far more likely to submit serious offers.
READ: Legal considerations to consider before buying or selling property
Buyers who leave it too late in the year could risk not being in their new house for the summer holidays. The Deeds Office process in South Africa takes roughly three months from acceptance of the offer to purchase and fulfilment of any conditions attached to it until full registration. To guarantee registration before the year-end break, documents must usually also be lodged by as early in December as possible.
Transacting during the winter months is therefore the most effective way to ensure you can legally move in before the year-end period sets in. Buying during the off-season may also provide some negotiating leverage which may not be available if the market picks up towards the Spring period. Sellers may also be more motivated to close a deal.
Selling in the winter season usually requires extra care though, says Seeff. First impressions are always critical as the buyer usually makes up their mind quite quickly. Ensure the property is light, airy, and well presented, and highlight any special winter-friendly features such as heating or a fireplace.
You want to ensure that buyers find no reason to walk away or look to discount your price, says Seeff. If your property offers alternative energy solutions such solar panels, a power back-up system, and gas for cooking or heating, highlight these as energy resilience is a massive selling point for local buyers.
READ: Thinking of selling? What you need to know first
Quay1 International Realty Regional Manager, Christine Marsh, says selling a home can be a complex process, and avoiding common mistakes is crucial to ensuring a successful sale. Here are some pitfalls to watch out for:
Overpricing: One of the most common mistakes is setting an unrealistic asking price. Overpricing can deter potential buyers and cause your home to sit on the market for an extended period. Conducting a comparative market analysis and consulting with a real estate agent can help you set a competitive price.
Neglecting Repairs and Staging: Failing to address necessary repairs and properly stage your home can negatively impact its appeal. Before listing, make sure to fix any noticeable issues, clean thoroughly, and consider staging to highlight your home's best features and create a welcoming atmosphere.
Inadequate Marketing: Effective marketing is essential for attracting buyers. Utilise high-quality photos, detailed descriptions, and various marketing channels, including online listings, social media, and open houses. A well-executed marketing plan can significantly increase your home's visibility and appeal.
Not Being Flexible with Showings: Limiting showing times or being inflexible with potential buyers' schedules can reduce the number of interested buyers. Be accommodating and make your home available for viewings as much as possible to increase your chances of finding the right buyer.
Skipping Professional Help: Selling a home involves numerous legal and logistical steps. Working with a qualified real estate agent, lawyer, and conveyancer can ensure that all aspects of the transaction are handled correctly, reducing the risk of errors and complications.
By avoiding these common mistakes, you can streamline the selling process and achieve a successful and profitable home sale.
Want all the latest property news and curated hot property listings sent directly to your inbox? Register for Property24’s Hot Properties, Lifestyle and Weekly Property Trends newsletters or follow us on Twitter, Instagram or Facebook.
