Have you been toying with the idea of selling your home?
It’s exciting to imagine new beginnings! But making that final decision to sell your home can feel a bit heavy. We know that many homeowners umm and ahh over whether it’s the right time to sell… And that’s completely understandable, selling your home is a life-changing decision.
Based on our market analysis, we think the next few months are an ideal window for selling your home. Learn why in this article!
Why is New Year (2023) a good time to sell?
According to conventional wisdom, spring is the best time to sell your house. Sunny spring mornings can show off your home in its best light, but we wouldn’t suggest waiting until spring 2023 to sell your home.
At NewHome4U, we think the coming new year period is an ideal time to sell. Why is this?
- Fresh new energy comes pouring in at the new year meaning many buyers feel motivated to start a new life – perhaps in your home!
- The Bank of England may increase interest rates in 2023 so some buyers will be put off house-buying by the time spring 2023 rolls around. That’ll mean less competition amongst buyers and potentially lower offers.
- With property supply so strained and buyer demand so high right now, you’re almost guaranteed a quick and lucrative sale!
To flesh things out a bit, we believe that if you sell your home in the next few months, you’d benefit in the following five ways:
1. Get the best price for your property
Although there has been a slight drop in annual house price growth in 2022, this has not necessarily translated to a material drop in house prices. Moreover, Wales is one of the most resilient regions in the UK, with house prices remaining very buoyant.
This means it’s a good time to sell your property, despite the economic conditions. In fact, we’d say it’s a great time to sell your property since there’s a limited housing stock. Limited housing stock has increased competition amongst buyers, which of course means that they’re vying to make the best offer.
To secure the very best deal, it’s important to negotiate confidently with prospective buyers. This is something that our professional team here at NewHome4U will assist with.
2. Make a quick sale
The current competition not only generates stronger offers but also results in quicker sales. Indeed, buyers want to secure a home quickly as there’s little stock to choose from. Once they’ve found a property they like, they won’t want it to slip through their fingers!
Regardless of what time of year you choose to market your property, we strive to sell your home in the quickest possible timeframe. One way we achieve this is by marketing new properties directly to our large following of buyers in Flintshire.
3. Start a new chapter in 2023
Many people are motivated to buy and sell over the new year. This is because the new year is an energising time. We feel inspired - often in big ways - to change our lives. And buying or selling our homes is one of the most common actions we’re drawn to when starting afresh.
We recommend listing your property around the new year because buyers who are looking for a new start will be trawling the property listings at this time. With so many wonderful things to do in Mold, it’s no wonder that many people are attracted to this historic market town and its surrounding areas.
Selling your home close to the new year can also give you – the seller – the chance to start a new chapter in 2023 yourself.
4. Be in your new home by summer!
If you start selling your property over the new year period, you could expect to be in your new home by summer. A late springtime move-in date is also appealing to buyers. That said, if buyers are planning their move for spring or summer, many will start searching listings over the new year period.
The benefit of listing your property with NewHome4U is that it’ll go straight onto our database of properties in Mold which is promoted on social media as well as directly to prospective buyers. It’s our job to get your property seen and we take this responsibility very seriously.
5. Sell before competition slows down
The competition that we’re seeing in the buyers’ market may slow down in the future.
This is for several reasons, but one of the reasons is a potential increase in interest rates.
If mortgage rates go up again in 2023, some buyers will be put off buying, so there may be fewer buyers to go around. In turn, this means that fewer offers will be made, and properties may stay on the market for longer.
For this reason, it may be better to list your property sooner rather than later, so that you can get ahead of interest rate hikes.
Knowing when to sell your property
You can successfully sell your home at any time of year, but some months do make more sense than others.
One of the best times to start selling your property is the new year, especially the coming new year (2023)!
This is not only because the new year is a time for new beginnings, but also because the new year is just around the corner. In truth, now (and the near future) is always an ideal time to sell your home if your estate agent can find you the ideal buyer.
This is because there’s very little housing supply, a lot of demand, and thus a lot of competition amongst buyers. Moreover, although mortgage rates are higher than in 2021, they might increase in the future. This would reduce the number of buyers in the market quite significantly.
That said, if you’ve been seriously considering selling your home, we would advise you to sell sooner rather than later to garner the best deal.
Curious to know how much your property is worth? Contact us today to arrange a professional, no-obligation valuation.
