Should I put my home on the market now, or wait till the Spring?
You have no idea just how often we estate agents get asked this question – no matter what time of the year, and whatever the state of the market! And the answer, as always, is a resounding ‘no!’
In this case, you are right - insofar as the market certainly has started to pick up. In fact, the past 6-8 months have seen an almost uninterrupted flow of good, positive news. But with prices starting to creep upwards again, does that mean the canny vendor should wait a while longer before coming to market in order to get the best possible price? No it doesn’t.
The simple fact is that there is rarely if ever anything to gain from waiting before putting your home on the market. You mention the Spring – and yes, the period around Easter in particular is traditionally supposed to bring the buyers out in their hoards. But that very fact also tends to attract large numbers of vendors, eager to capitalise on what they optimistically imagine is going to be the resulting feeding frenzy.
There is a philosophical point here, as well. With prices on the increase, you could theoretically wait forever in order to get top dollar for your home! Indeed, the only way you could ever be certain of having got the best possible price – in this cycle, at least – would be if you sold just before values started falling again. And unless you were extremely lucky with your timing, that would be unlikely to happen!
The bottom line is this: you should always move home when it suits you - rather than vainly trying to play the market.
Besides which, the one thing that just about every estate agent in the land is saying at the moment is that there is a serious shortage of properties for sale, right now. Would-be buyers are registering in their thousands, buoyed up by growing confidence in the state of the economy as a whole, increasing availability of a wider range of mortgage products, and continuing low interest rates. Yet agents don’t have enough stock on their books to satisfy them.
So, my advice is: go for it!