You might be planning to sell your home but missed out spring, which is known as the peak property season for Australians. Although the summer might seem to be quieter, there will still be buyers and sellers for you during this season. Here are some factors that you need to consider when deciding to sell your home during the summer season:
Interest rates are really important, especially if house prices are slowing and the market favours buyers. Likewise, slowing price growth and lower interest rates can be advantageous for you if you also need to buy. With the threat of an increase in the interest rates, there is a possibility of softening effect on house prices.
Urgency of Selling
If you are not in a hurry to sell your property, then you don’t have to rush in putting your property into the market. You can consider renting your property out until the property market reaches its peak season. However, if you really need to sell your place now, then you should prepare your property for sale.
Your property’s location is a key element in determining whether it is a great time to sell it. For instance, if you own a property by the beach, selling it leading into summer is a great idea. Buyers are usually motivated by the idea of having a beach house to spend the summer season. However, some investors might think differently and will consider buying the property during the winter to get a bargain with lower interest in coastal locations.
Property Type and Demographics
Determine the type of person your home appeal to. If you own a family home, it is not advisable to sell it during summer as this is also the season of long school holidays and a new year starting. However, you might not have a problem if your property is more attractive to a younger or an older demographic.
Predict the Market
Even experts experience difficulty in predicting the market. Still, a professional real estate agent can help you with this by showing you how other similar properties are selling, their recent sales price, and their average time on market.
It is very crucial to know whether or not it is the right time to sell your property. BMG Wealth can help you assess your options so you can make the most out of your property.
Talk to us and we will be happy to assist you!