It’s generally accepted that the best time of year to move is the spring and summertime when the weather is nice, and you’re not dealing with all the cold and snow that winter brings. But let’s back up a few steps. Closing on a home typically falls in the one to two month range. That means a future homeowner who wants to move in April, will probably begin looking at the start of the year for their new home.
So if you’re planning to sell your home this year, and are worried that listing it in January or February may be too soon — worry not. Listing during the winter even comes with its own advantages. If you’re planning to sell — and soon — here’s what you want to know about listing during the winter.
Less choice leads to motivation
Some homeowners may not choose to list at the top of the year, so inventory of available houses tends to dip at this time of year. The good news for you is, if you do list, you’re dealing with far less competition than during the hot summer months.
At the same time — this year, due to COVID-19, open houses just aren’t happening at the same frequency as they used to. Instead, the people who are coming to view your home are already likely working with a realtor and making practical choices to see homes that are suited to their budget and taste. You’re not showing your home to those people who see the sign up on a Sunday drive and pop in “just to look,” your home is only being seen by interested parties.
With less inventory on the market, you won’t necessarily create a bidding war for the home — but you should be able to command a good price for the home based on its valuation.
Create a welcoming environment
Yes, the winter can be dark and bleak — but that doesn’t mean your home has to show off the same vibe. The holiday lights you’ve already put up make a great first impressions (and they’re a lot easier to manage than keeping the landscaping in tip-top shape at all times).
Keep your driveway and walkways clear of all snow and ice — and if there are any shrubs or trees loaded down with snow that are creating a hazard, make sure to lighten their load.
Nothing can ruin your flooring like the slush from a dozen pairs of boots going in and out all day. Place some mats down at the front door of the home, and leave a note for the viewers to remove their boots and wet winter gear and leave it in the entryway.
Create motivated buyers with an inspection
If you don’t live in a seller’s market, it can be hard to make your home stand out, no matter what time of year it is. I always like to have a pre-listing home inspection performed to keep the seller in the loop about any potential repairs that may come up in the selling process. A pre-listing inspection can let you get the jump on any small fixes that may be a sticking point for any potential buyers.
Another tip I like to give homeowners is, during your residency in the home, keep a binder of all the projects and work done on the home, as well as photos of the work in progress. This lets them see exactly how the home has been cared for over the last several years, and can really take some of the pressure off and let them comfortably make a fair offer.
I know some people get distracted by finishes like a new kitchen or updated spa bathroom, but for me, I want to know when the roof was last replaced, how old the furnace is, and how much the home costs to keep warm all season long.
Listing your home in the winter isn’t the disadvantage many think it is. You’re entering in to a “quieter” market, but it’s one that includes homeowners who are motivated to buy — and soon.
To find out more about Mike Holmes, visit makeitright.ca
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