When is the Best Time to Sell a House in London?

 

 

Your home is probably the most valuable thing in your possession. And the reason is not just its impressive price tag but the emotional value it represents as well. Therefore, the process of selling your home can be quite challenging and complicated.

However, before thinking about the best time to sell a house in the context of the market trends, you need to find out what is the right time for you personally.

When you are ready

There are various factors that can play into your decision to sell. Some of the main ones are:

Big changes: There are lifestyle changes that can force you to sell your home and buy a new one. For instance, a new job, a growing family, or relocation. Unfortunately, job-related moves often don’t allow you to wait for the best time to sell your home. Meanwhile, family-related changes sometimes have much more fluid timelines providing you with the opportunity to choose the right moment for your big decision.

Emotional readiness: It’s very important to give yourself some time to process your decision. It may sound illogical or insignificant, but your emotional state can actually have a huge impact on the selling process. Even if intellectually you understand why it has to be done, subconsciously you can act in a way that might sabotage the deal due to your inner unwillingness to sell your home.

Financial perks: Real estate has always been a good investment opportunity. Therefore, once your home has gained considerable equity, you may be willing to sell it in order to generate income.

Seasonality

The real estate market has been studied for many years. It’s no secret that some seasons and months are statistically better for property sales than the rest. Apart from the time it takes to find a buyer, the moment you put your property on sale can also have an impact on the sale price.

Most people claim that the best time to sell a home is spring. In general, the real estate market is more active from March to July. Perhaps, homebuyers feel better because of warmer weather that also makes moving to a new location a more convenient deed. In addition, families with children prefer getting a new house during a summer break so as not to disrupt their education process.

Other good months to consider selling a home are February, September, and October, while November, December, and early January might not be the best options. However, Mid-January is also a favorable period to put your house on sale as the start of a new year usually encourages people to look for a change in their lives.

Market Conditions

It’s worth mentioning that seasonality isn’t the most accurate and reliable way to choose the best time for selling a house. There are market conditions and other circumstances that have a bigger impact. Moreover, the pandemic has disrupted various economic sectors, ruining people’s plans and routines. Therefore, it’s important to study the market before putting your property on sale.

As a rule of thumb, you need to sell your property when there are many buyers actively looking for a new home. In other words, the best time for selling real estate is when the demand is high and the supply is low. If the level of competition among buyers is high, you can sell for a higher price. However, to understand the current levels of demand and supply for properties like yours, you need to conduct research. You can go to a real estate website to see what kind of competition you are entering. For instance, some sites allows you to check the up-to-date information on new build homes, including price and location. You can see how many properties like yours there are and how much they cost.

 

If you are selling a house on your own, you can take advantage of more experienced players in the market — property development companies. They usually have a team of professionals who are paid to analyze the market to maximize sales. Check out their websites and see if there are any special discounts. Usually, property development companies use special offers to attract new buyers when there is a low level of demand. Also, you can see how they present their projects to sell them and borrow some tricks. You can find the list of the main property developers in London online.

Conclusion

There are many factors to consider in order to make the most out of a property sale. However, it is worth studying them as you can significantly shorten the time you will spend to sell your home as well as increase the price you will get.