Published : 5 August 2015
So-called property pundits will tell you there's a right time, and a wrong time of year to buy or sell your home. But is this fact or fiction? Actually, it's a bit of both.
We all know real estate is cyclical, with sales taking place all year round. Some people say if the stock market is down, property sales are up, and vice versa. Everyone has an opinion it seems! But it is true that some times of the year may be better than others.
When to Sell a House
In the Northern Hemisphere it's probably safe to assume that Spring is a good time to sell - the sun is out, the flowers are blooming and there's a feeling of warmth, optimism and new beginnings. In Australia, however, where we enjoy sunshine most of the year, that rule doesn't really apply.
However, there is a trend Down Under to buy and sell towards the end of the year, in November or December. This is particularly so in tourist hot spots like the Sunshine Coast, where holidaymakers - having fallen in love with the area - may also be house-hunting.
Rainy days and Mondays
When it comes to buying a house, it's a whole new scenario, of course! You've heard the one about viewing a property in the rain to see if the roof leaks!
Well, there's some truth in this. Clearly the seller wants to showcase their home in the best possible light, literally! But the prospective buyer wants to pick up on any potential problems. Compromise is the answer. The buyer must accept they are buying a pre-loved home, so there will be things to fix or improve. And the seller has to accept that the buyer will try and find ways of getting the price down. It's human nature.
But if you are a buyer it actually is a good move to check out your prospective purchase in different conditions: rain and shine, day and night, weekends and week days. That should give you a fair idea about issues like traffic noise, loud neighbours, flooding and so on.
And those other factors
Buying or selling it's not just about the property itself. It's also about your own personal circumstances, of course, and what the market's doing. For example, right now the market conditions are ideal. We've got low interest rates, great offers from the banks - and it's coming up to spring and summer.
But here's the most important influence of all - YOU! Houses are a big investment, and you don't want to miss out on your dream home just because someone told you to wait until spring, or a rainy day! Choosing a home is as much, if not more, about the location, the layout, the 'feel' of the property.
You'll know you've found the right home the moment you walk through the door. So if you find it, and the price is right, go ahead!