When you are selling your house there are a million questions that run on a continuous loop through your mind like when should I lower prices, how should I decorate, and should I keep my home on the market during the holidays? While I’m not so sure about the first few questions here are a few pros and cons of keeping your house on the market during the holiday season.
Pros:
- Buyers that look for houses during the holidays are generally more serious about buying than others. It takes a lot of gumption to get out in the cold and house hunt so buyers willing to venture out into the elements are going to be much more intent on finding a house that is right for them.
- Your home is generally at its best during the holidays. With family coming and going and the spirit of giving in the air homes are generally more inviting during the holidays.
- Opportunities for house hunting are more prevalent. Many people use their weekends to rush around and see as many houses as possible, during the holidays vacations are longer and there isn’t such a harried feeling when looking at houses.
- Buyers are much more prepared to purchase a house at the end of the year and get the housekeeping out of the way. Buyers generally want to use their vacation for the most benefit and if they are seriously looking for a new home it could be the perfect expanse of time to wrap up loose ends and find that perfect home.
- The holidays put people in a different mindset. Where they may have been rushed and stressed during their other home buying experiences during the year, seeing family and friends and getting a chance to relax puts buyers at ease and makes it easier for them to say yes to the commitment of buying a home.
Cons:
- Buyers will be able to see just what your home is lacking in regards to holiday function. Buyers that purchase a home earlier in the year don’t generally think about what it will be like for holiday functions, if you have it all set up they may see just what it is lacking.
- It’s much harder to be ready for a showing at a moment’s notice especially if you have company staying with you during the holidays.
- The timing at the end of the year is a bit off. Buyers generally want to close the sale in the month that they make it and sales generally take longer during the holiday season because it is the holiday season.
- Some buyers may think you are desperate. By keeping your house on the market during the slow season that is the holidays, some buyers may think you are just desperate to sell.
- Offers will be lower than list price. Because of the end of the year buyers will be more aware of what they were able to afford during the year and what they weren’t, making their budgets decrease accordingly. This breeds wariness in the buyer because they begin to doubt how much they really can afford.
As always, I am not a professional realtor and if you have serious questions about selling your home during the holiday or really any season you should talk to a realtor in your area. What time is right to sell is completely up to the individual.
