You are settling in for the Christmas period, cupboards are stocked and shopping complete (almost) but is now the time to list your property or look for a new home? Let’s discuss.
The Facts say so
Rightmove viewings significantly increase straight after Christmas for property searches as people sit down with the family over a box of celebrations to discuss their plans for the New Year. According to Rightmove their page views dramatically increase straight after Christmas with over 1.6 million views on Boxing Day and a ginormous 3.3 million visits on New Years’ Day- imagine having your property on the market on New Year’s Day!
Christmas browsers are motivated
Over this period, you often find buyers who have pressing needs to be looking. If buyers are willing to come out to view properties in the cold and wet and leave their Christmas shopping to another time, they are clearly serious about finding the perfect home.
Fewer homes on the market
Some people just put off any listings or browsing until the new year. Over the festive period, there are not as many properties on the market, meaning buyers have less choice and your home will have less competition.
Be ready for 2020
Even if you don’t list your property or start booking viewings right away, you can be all set for the new year. Marketing material, photos and listing details can be organised in December ready to hit the ground running in 2020.
What some homeowners forget about at Christmas are the decorations – your home may be more cluttered than usual with a tree, cards and presents. So as not to distract the buyer we recommend sticking to decorations that complement your existing colour scheme – it will help them imagine themselves in your home. If your property needs photographing you won’t want Christmas decorations in your listing come January. Best to get them done ahead of time or wait until the new year.
The Tax Man
A house marketed in December may lure buyers looking for year-end tax breaks. Buyers looking to lower their taxes may snatch up a home late in the year so they can deduct home purchase costs. That includes points, interest and property taxes.
And if someone sold a house during the traditional summer selling season and faces capital gains tax on the deal (because he’s an investor or lived in the house for fewer than two years), he may be highly motivated to buy in December since closing on the purchase of another house within 180 days lets him avoid paying capital gains tax.
So whether you’re buying or selling, what you choose to do will depend on how things have been going with your sale or home search so far. Sellers, remember you only need to find one buyer to sell your home and it’s likely the buyers will be more genuine at Christmas. Buyers if you don’t find that dream place by the end of the year, don’t fret, there will be without doubt a surge of new listings in the new year. What better Christmas present is there than a new home?