When it comes to selling a home, the ultimate goal for most people is to get the best deal possible without having to wait too long. Of course, that is sometimes easier said than done. But it’s not completely impossible. In fact, one of the best ways to increase your odds of closing the deal quickly is to pick the right time of year to sell.
With this in mind, property website Rightmove has conducted a study to reveal the best month of the year to sell your house. Here’s everything you need to know.
The housing market in 2022: a brief overview
Last year was a sellers’ market in the UK. Houses were snapped up relatively quickly due to high demand and limited supply.
Although experts predict that more properties will come onto the market in 2022, it is still largely expected to be a sellers’ market. This means that if you are selling your house this year, your chances of finding a buyer look good.
In fact, according to Rightmove, approximately three-quarters of all properties are currently successfully finding a buyer, compared to a historical average of around half.
Furthermore, studies show that the market has become brisker. Homes are currently selling in an average of 39 days compared to a five-year average of 52 days.
But that’s not even the best news for buyers. Surging house prices mean that you are likely to get a very good deal when you decide to sell.
The best month to sell a house revealed
Spring is often thought to be the best time to sell a house in the UK, with many buyers and sellers hoping to get into a new home before the summer.
According to Rightmove, March may be the best month to put your property on the market.
The company looked at data from the past five years (excluding 2020) and found that March typically has the highest number of buyer inquiries per property for sale. This, in turn, creates high competition between buyers, giving sellers the best chance of sealing a deal.
New listings are also at their highest in March according to Rightmove. But since buyer demand is also very high, it still remains the best month sell.
For those who might not be able to get their property ready in time for a March sale, the good news is that after March, April is the next strongest month to sell based on competition between buyers for each available property. And after that, the third-best month is May.
How to find a buyer and sell quickly
To increase your odds of finding a buyer and selling your home quickly, consider taking the following steps before you list your house.
1. Declutter
Clutter-free rooms look more spacious and can make a house more appealing to potential buyers.
Consider getting rid of extra items including bulky furniture, wall hangings, personal pictures, and other items that might distract buyers or otherwise prevent them from imagining themselves living in the house.
2. Make repairs
One of the advantages of a sellers’ market is that it means that your home does not necessarily need to be in perfect shape to get a buyer.
However, fixing glaring issues can go a long way in helping you land the right price for the house and avoid turning off some buyers. That could include fixing any squeaky drawers, leaky taps, damaged paintwork, doors that won’t close properly and so on.
3. Clean the property
Make sure that your home is also squeaky clean before you welcome potential buyers for viewings. Your kitchen and bathroom should ideally be spotless. These two rooms are often the main showplaces of a home and can make or break a sale.
Also, don’t forget to address some of the most common buyer turn-offs, including mould, damp and bad smells.
4. Enhance kerb appeal
Buyers begin to form opinions about your home long before they step inside.
That’s why its kerb appeal – how attractive it is when viewed from the street – is extremely important.
Give exterior fixings a fresh coat of paint if possible. Also, clean the windows, weed the flowerbeds, trim the lawn and repair broken steps. Essentially, do whatever you can to give the best possible first impression to buyers.
Final word
There are, of course, numerous other factors that can influence what happens when you put your house on the market.
But making sure your property is looking its best and listing it in the spring months of March, April and May can greatly increase your chances of finding the right buyer without having to wait too long.
Was this article helpful?
YesNo
About the author
Sean is a personal finance writer with a strong passion for helping others become more financially literate and make better financial decisions. He covers everything from credit cards to savings to investing.
Some offers on The Motley Fool UK site are from our partners — it’s how we make money and keep this site going. But does that impact our ratings? Nope. Our commitment is to you. If a product isn’t any good, our rating will reflect that, or we won’t list it at all. Also, while we aim to feature the best products available, we do not review every product on the market. Learn more here. The statements above are The Motley Fool’s alone and have not been provided or endorsed by bank advertisers. John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. The Motley Fool UK has recommended Barclays, Hargreaves Lansdown, HSBC Holdings, Lloyds Banking Group, Mastercard, and Tesco.
This post was originally published on Motley Fool
