Should You Buy/Sell Your House This Christmas!
With only a month left until Christmas – the season of goodwill has definitely begun. But is it the season for buying and selling property?
From GD Property Solicitors experience It turns out, yes, it is! Whilst many people automatically steer away from putting their home on the market during December – believing it will be ignored amongst the distractions of twinkly lights, nativities, and tinsel – in actual fact, figures show that there can be up to a 20% increase in people housing hunting online between Christmas and New Year. It’s likely that this figure will soar even higher this year even with inflation rises as people look to make a fresh start in 2024.
Is there an ideal time to sell your home?
Honestly? There is no ‘perfect’ time. As we’ve all seen this year, the market can be thrown curve balls at any point causing unpredictable lows and highs. No one can truly foresee the twists and turns but, generally, March is regarded as a prime month. With the January blues behind us and the positivity of spring well on the way.
In truth though, the only right time to buy or sell is when it works for you and your personal circumstances. So, if you’re considering putting your house on the market this December, here our experienced property lawyers at GD Legal share just a few of the reasons why you shouldn’t wait…
- Reduced Competition, Increased Attention: One of the significant benefits of selling your home in the UK at Christmas is diminished competition. Many sellers choose to delay listing until the new year, thinking that buyers are too occupied with holiday festivities. However, those actively looking for homes during this season are often highly motivated. Your property will stand out among the limited inventory, leading to increased attention and potentially quicker offers.
- Serious Buyers: Holiday-season buyers in the UK are typically more committed to making a purchase. They may be relocating for work, have leases ending, or specific reasons that necessitate a new home before the year concludes. This translates to fewer casual browsers and more serious buyers, expediting the sales process.
- Cozier and More Inviting Homes: Decorating your home for the holidays can create a warm and inviting atmosphere that appeals to potential UK buyers. Well-placed holiday decorations, cosy lighting, and the scent of traditional holiday treats can make your property feel more like a home. Buyers can envision themselves celebrating the festive season and creating cherished memories in your home.
- Emotional Appeal: Christmas is a time of nostalgia, family gatherings, and cherished traditions. Emotions run high during this season, making it a perfect time to establish an emotional connection between buyers and your property. UK buyers may envisage hosting holiday gatherings, decorating the tree, and celebrating special moments in your home, potentially leading to a quicker sale.
- Year-End Tax Benefits: For UK buyers looking to maximise potential tax deductions, closing on a new home at the end of the year can be highly appealing. By selling your home during the Christmas season, you’re offering these buyers an opportunity to fulfil their financial goals, giving your property a competitive edge.
- Flexible Closing Dates: Selling your home in the UK during the Christmas season often means more flexibility with closing dates. Buyers and sellers can negotiate timelines that work best for both parties, making the transaction smoother and more accommodating for everyone involved.
Get a head start on 2024
By putting your property on the market in December you can maximise on the festive increase of house searches and potential interest in your property.
The next best way to get ahead of the game? Line up your property solicitor.
At GD Property Solicitors, we have a team of highly skilled conveyancing solicitors on hand and ready to assist. By offering a modern and predominantly online service, you can complete and sign important documents and make payments electronically. And our systems allow you to easily keep track of everything at your convenience – without having to put down your tub of Christmas chocs or change out of your stretchy pants to visit our offices!