I have been approached by several Landlords over June and July asking the question “when is the best time to advertise my property?”. Trying to calculate the best time to put your property on the market regardless of whether it is for rent or sale can be a difficult task, and whilst I would agree that there are particular times of the year that can prove more productive than others, there are several factors that need to be taken into consideration.
There are times of the year when it’s better to let or sell and times when waiting a little longer can pay off in the long run. In a nutshell, I would say this is the way of the seasons ...
Spring - Customarily there are more house-buyers as the Daffodils show themselves
Summer - Sellers may miss out on house-buyers being on holiday and renters aren’t usually looking to move
Autumn - The enthusiasm for buying homes returns
Winter - Interest diminishes as festive season looms
Extra considerations…
New Year - the start of a New Year can often see an increase in the number of people looking for a property to rent or buy these usually stem from the increase over the festive period of family fall outs or marriage proposals.
6 week school holidays - this can often be a stressful and hectic time for families and often means big discussions such as moving house can be put on the back burner until the new term begins.
Family Commitments - Children often affect the decision. On one side you might delay putting that for sale board in your front garden so you can move in the summer school holidays, but on the other side, you might want to move sooner to be in the catchment area of a preferred school, in plenty of time for the next academic year.
What this means to buyers and landlord investors is that they often pick up a bargain in later months of the year, as there is less competition from owner occupiers. So, whilst there are better months to achieve a quicker sale, the only piece of advice I can give to every home owner and landlord in the Alfreton and Ripley area is do the right thing for yourself, do your homework and buy, sell or let with both your head as well as your heart.
Therefore even if you placed your property on the market during September (a month with the most potential) in Alfreton or Ripley, if it takes you thirteen weeks to find a buyer, then you can expect solicitors and the chain to take an additional eight and twelve weeks after that, before you move or if you are letting your property most tenants have to give at least one months notice before a move and decorating and preparing a property to be re-let could also add on additional weeks and time to your schedule.
So to conclude it comes down to personal choice as to when you place your property on the market whist keeping these factors in mind.
For more statistics on when is the best time to sell or let your property in the Alfreton and Ripley areas please contact me for a copy of our newsletter.