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By Sean Cooper
Special to the Financial Independence Hub
If you’re thinking about selling your home, you probably believe the springtime is the best time to list it. While that may be true, wintertime can also be a good time to sell. Not only are homebuyers usually more serious then, you’re more likely to have more of your realtor’s attention. Let’s look at the advantages and disadvantages of listing your home in the wintertime.
Advantages
More serious Homebuyers
Although more people may visit your place in the spring, not everyone will be serious. Some will be nosey neighbours who want to see inside your place. Others will be people who are just considering buying a home and haven’t made up their mind yet. This means you can spend a lot of time showing off your home with few offers to show for it.
In the wintertime you better believe homebuyers are more serious. Chances are a homebuyer isn’t venturing out into the cold weather unless they really want to buy a home. Likewise, you’re probably listing your home because you’re serious about selling it. Since both parties are serious, you’re more likely to sell your home.
Fewer Sellers to compete against
When you’re listing your home in the springtime, you better make sure it’s looking its best. If your neighbourhood is popular, there could be quite a few homes for sale that you’ll be competing against for the attention of buyers.
Not so in the wintertime. Since there tends to be fewer people selling their homes, if you’re lucky your home might be the only home for sale in the neighbourhood. This doesn’t mean you shouldn’t stage your home and make sure it’s looking its best, but it does mean if someone really wants to buy a home in your neighbourhood, your home will be the only option, which could lead to a higher selling price for you.
More attention from your Realtor
If you’re working with a realtor in the springtime it’s only natural that they’ll be busy. The springtime is the peak time for realtors. If they aren’t selling a home, they’ll be helping buyers find a home. This means your realtor is probably pressed for time and you may not get their full attention.
Not so in the wintertime. Your realtor should have a lot more time to spend with you coming up with a strategy to sell your home for top dollar.
Disadvantages
Clearing your property
If you’re selling your home during the wintertime, you’ll need to stay on top of the snow shoveling. The last thing you want is for a prospective homebuyer to slip and fall on the way to your front door. Since a lot of people will more than likely visit your home, it’s important to make sure there’s a clear path to the front door and it’s salted to avoid any mishaps.
Heating your Home
Be prepared for a higher heating bill than usual if you’re selling your home during the wintertime. The constant inflow of people will mean warm air will be escaping out the front door several times a day. This means your furnace will be working overtime. But it’s well worth spending the money to make sure your home is cozy. The last thing you want is a cold home that drives interested homebuyers away.
Sean Cooper is the bestselling author of the book, Burn Your Mortgage: The Simple, Powerful Path to Financial Freedom for Canadians. He bought his first house when he was only 27 in Toronto and paid off his mortgage in just 3 years by age 30. An in-demand Personal Finance Journalist, Money Coach and Speaker, his articles and blogs have been featured in publications such as the Toronto Star, Globe and Mail, Financial Post and MoneySense. Connect with Sean on LinkedIn, Twitter, Facebook and Instagram.
