Real estate experts at Raine and Horne say that the property market cools as the temperature drops. But the question arises – Is winter really a bad time to sell? The answer is straight no.
With less stock, motivated buyers, and crisp days delivering better views than the best of summer, it is quite possible to get a good price for your acreage in winter. Now, let us look at the pros and the cons of selling acreage in winter.
Pros of Selling Acreage in Winter
Less stock – And Motivated Buyers
As per our experts, the biggest upside to selling in winter is less competition.
This reason is that many people still subscribe to the idea that winter is a bad time to sell, therefore it is less likely to put the acreage on the market during the colder season. Our experts think that it is an assumption they have inherited from Northern hemisphere cousins and it is not so relevant in the Australian context.
“Winter is a good time to sell. Eventually, it all comes down to the market.”
Also, if potential buyers turn up at an open on a rainy day, vendors can usually assume they are motivated and ready to make a purchase.
Overseas Buyers
Typically, you need to be a permanent resident or citizen for buying a property in Australia. In fact, many available home loans also require you to be Aussie. But do not fret, if you are not a citizen, you can also make a big purchase. Foreigners can also buy a property. All that you need to do is – categorize the property as an investment and get approval from the government.
Here’s something you need to know:
- Australia has responsible lending legislation and prudent economic management through the Australian Prudential Regulation Authority (APRA), diminishing the risk of asset price bubbles.
- It is important for you to know that Australia has never had prices fall more than 20% in one year.
Real estate and the property market in the United States or Hong Kong have suffered significant crashes which are completely unheard of in Australia. It is said that the housing prices in volatile economies have seen a drop of about 70%, leaving the investors at a big loss.
Better Views and Air Quality
As per our experts, “Winter often showcases gardens and outlooks better than any other season. Many people do not think about it, but the views are a lot cleaner during winter, especially with cold air and trees with no leaves. Also, there is also less pollen around in winter.”
The “Cosy” Factor
Everyone loves feeling cosy, so it makes it easier and more welcoming to sell during winter. With a roaring fire or ducted heating providing warmth, it becomes easy to make acreage home appealing.
Cons of Selling Acreage in Winter
Braving Bad Weather
Selling in winter does require buyers to face harsh, cold and potentially rainy weather. This also involves attending open for inspections, which can be a barrier to selling.
On a cold, bleak day, of course, some people might be less inclined to go out, but the same can be said about stinking hot days in summer.
Wet Weather Can Show Up Flaws
Older homes with damp issues are likely to get sold in warmer months, but any serious seller will address any major problems before selling – irrespective of the weather.
Less Natural Light
With shorter days and lower lights, acreage homes often get less natural light in winter, which also impacts the overall presentation.
Let Us Talk About Other Seasons
While some real estate agents may have historically told vendors to hold off selling until spring, many people across Australia simply sell when they have to with the help of experienced real estate agent.
Our experts say it is less about picking the perfect time and more about understanding how best you can present a property in every season.
During spring, it is easier to attract potential buyers because the weather is good and they still need to be wowed.
During summer, it is more about managing the temperature and shining light. Make sure that your place stays cool, and the outdoors are dresses to impress buyers.
During autumn, vendors have to deal with fallen leaves, so potential buyers might not see when they would want to inspect. Wet leaves that get dragged into your place can make the place look messy.
Ideally, buying and selling properties are the biggest decisions people make in their lives. Such decisions, if taken alone, can land you in trouble. So, it is recommended that you must loop in an experienced real estate agent. If you are thinking of buying or selling, do not think of the right time, right place. Just leave it to the experts and let them decide. For any professional assistance regarding buying or selling acreage in Victoria, contact Raine and Horne experts, Land Victoria.