101 Series: Selling Your Vancouver Home During the Winter Months- Consult with Bruce Coleman, Vancouver Mortgage Broker
Selling Your Vancouver Home During the Winter Months
Many people take their home off the market by December and leave it off until spring rolls around again. They simply can’t be bothered or figure it’s too much of a hassle to do a deal at this time of year.
This is a common sellers practice, but are you missing out if you do?
Why People Don’t Sell Their Homes in the Winter Months
Let’s face it; winter isn’t the most ideal time to sell a home for a number of reasons. One of the reasons why people don’t want to sell their house because it’s a lot harder to get another suitable home because so many other buyers have also taken their home off the market.
Then there’s the weather that you have to deal with. You might go through all the bother and prep work of getting your home ready for an all-day viewing and have a winter storm pick that time to strike.
You also are likely thinking about the kids if you have school aged children. Taking them out of school and going through the additional hassle of getting them enrolled at another school is one thing. It can also be very disruptive on the little ones who have to familiarize themselves with new teachers and new classmates.
Another reason is the mess. It can get pretty sloppy out there some days with the slush, or the rain and the mud. Even though you can get prospective viewers to take off their wet and muddy shoes, you still have to keep the entrance way or foyer constantly tidied up and mopped.
The final reason why many people don’t like to sell their home is that they are of the common belief that there will also be a lot less viewers for the same reason you don’t have your house up for sale.
Some Good Reasons to Sell your Home Suring the Winter Months
Although there are many reasons not to sell your home in winter, you could be missing out if your happen to be a motivated seller.
Why? Simply put, at any time of the year there are always motivated buyers out there. A motivated buyer is the best kind of potential buyer. If they want to see your house, then they have based the decision to view your home for a lot of good reasons and can be considered serious buyers.
You can avoid having to waste a lot of time with the “looky-loos” who have nothing better to do than look at homes which they have no intention of buying in the first place.
And, to use an old adage, “The early bird gets the worm.” Not only are there motivated buyers out but there are also potential buyers who want to buy a home before the warm weather starts to set in. They want to beat out all their competitors who might snap up their dream home before they even get a chance to put an offer down on the home.
Another reason to leave your home up for sale in winter is that many people who want a home have also developed some anxiety about the future prospects on interest rates. Mortgages have been at bargain-basement rates for so long, any delay could result in the rates rising a few basis points which can add thousands of dollars over the amortization of the mortgage.
Winter does have some disadvantages, but if you are keen to sell your home, keep it listed during the winter months and don’t wait because if you aren’t listed then you won’t sell.