Is the most wonderful time of the year that wonderful when it comes to selling houses? Evaluate these pros and cons of selling a property around the Christmas time to decide if you’re going to put your house on the marketplace. Review the advantages and disadvantages of the winter real estate market to close the most profitable deal possible.
Pros and cons of selling house during holidays
Pro: Lower competition
While most people consider winter and holiday season as the quite unfavorable time for executing any attempts towards selling their real estate and decide to enjoy the holidays with their family without being bothered by possible buyers asking to show the house/apartment, the number of homes available on the marked sufficiently decreases. And, the lower the competition is, the higher your chances to sell your property get.
Pro: The chance to raise the price
Lower competition and fewer options on the market create a perfect opportunity to set the price a little bit higher than you could hope for at any other time and actually get away with it. Even if your buyers manage to convince you to lower the price, you’ll still receive more than you could normally expect. Meanwhile, spring and autumn aren’t just the golden time for real estate sells. Those are the seasons of major house hunts and price reductions caused by higher demand and even higher supply.
Con: Fewer homebuyers on the market
On the other hand, prospective buyers who’re on the lookout for the home to call their own might not want to deal with the buying hustle during holidays. They might not find enough time, resources and desire to continue house shopping when they need to finish their Christmas shopping, visit friends and family, decorate their current accommodation, spend money on gifts and Christmas dinner prepping, etc. In addition to that, a good part of people celebrate holidays out of town or try to visit their distant relatives before Christmas Eve, which also cuts the number of active home buyers on the market.
Pro: Festive spirit
Festive decorations and welcoming spirit of Christmas will make your home appear a lot more attractive and cozy. The holiday atmosphere will be your huge helper when it comes to persuading hesitate homebuyers, who essentially love your property, to finalize the deal to move into their dream home before the greatest holiday of the year and spend the first Christmas in the house of their own.
Con: Real estate agents’ availability
One of the things you’re going to struggle with when trying to sell your property before Christmas is finding a highly qualified real estate agent and a lawyer willing to work during the holidays instead of spending as much time as they can with their families.
Pro: Home before Christmas
The people who’ve been house hunting for a while might be desperate to settle down before the holidays and have their own home by Christmas. Thus, you have a better chance of finding less hesitate buyers who’re ready to seal the deal quite fast.
Con: Suspicious homebuyers
Some homebuyers might be thrown off by the fact that you’re trying to sell your house during the time of the year that is the least popular on the real estate market. They might get a little bit suspicious around the reasons why you’re spending the time designated for a family reunion and festivities on showing the property and why you’re so desperate to close the deal before Christmas. Consequently, they may either refrain from making the next step closer to the purchase or use your intention to sell before Christmas or the New Years to negotiate the price and drag out the process in hope for a better deal.
Pro: Less expensive renovations
There’re a number of inexpensive renovations and improvements you may conduct to sell your home even faster. And, just as real estate agents, remodeling contractors are always glad to find an extra job prior to Christmas, even if it takes a 5% discount to gain a client. If you decide to freshen your house up before opening it for the prospective homebuyers, find the pros to help you out on HireRush.com.
Pro: Agents’ discounts
Despite the lower number of real estate agents who don’t mind working throughout the holidays, those who’re still active on the market have fewer job offers during the Christmas season. Thus, you may even seek a small discount on their services.
Pro: Winter reveals the true value of the house
A lot of problems with the buildings show up during the hard winter weather. Thus, if the property you’re willing to sell doesn’t have any issues with the leaky roof, poor insulation, inefficient heating and similar stuff, the prospective home buyers will be able to notice that right away.
Thus, they won’t have to wait till the first frosts and snowstorms reveal the drawbacks of their recently bought property but will have a chance to see how well the house performs during the unfavorable weather conditions, appreciate its value and get persuaded that the home is definitely worth buying.