When Is the Best Time to Sell Your House?
Are you looking to sell your house? If you are, chances are that you’ll be wondering when the best time is to sell. Good timing (among other things) matters greatly if you want to get the most out of your property. Certain months of the year are proven to be better than others for putting your house on the market. In fact, research has shown that timing can affect the price your property sells for by up to 9%! That percentage can easily spell the difference between making a profit and making a loss. Imagine if your two-bedroom apartment in St. Julian’s might sell for €275,000 one month but €300,000 another month. When would you choose to sell?
However, no matter what time of year you decide to sell, there are certain things you need to take into consideration before advertising your property. The most important being, is it actually ready to go on the market? Whether you’re looking to attract Maltese or international buyers, you’ll want to make sure your Malta property is in tip-top shape before you sell. On top of giving your house a deep clean, there are other things you can do to make your property more attractive to potential buyers. Are there any repairs you need to make that you’ve perhaps been putting off? Could it do with a fresh coat of paint? If you’re unsure as to what your property in Malta needs to make it most attractive to buyers, speak to your agent at Zanzi Homes. Their expertise can guide you and help you in getting the interest of potential buyers – and a good price for your property!
Secondly, prior to listing your property, don’t forget to consider if it’s a good time for you. The market might be favourable but are you really ready to sell? If you’re still emotionally attached to your house, it might not be the best time. Also, do your sums! It might be the best month in the year to get a good price for your property, but is it the best year? If you have a mortgage, will you be left with anything after you sell and pay off your loans? Or is it worth waiting a few more years until you’re closer to the end of your mortgage term? Whether you have a house in Balzan or a flat in Sliema, you can contact your agent at Zanzi Homes for expert advice and a valuation. Then speak to your mortgage lenders, so you can make an informed decision. Apart from that, what’s also crucial is to give consideration to where you’ll live next. It doesn’t matter how good a deal you get, if you’ve got nowhere to move to.
So, let’s say you’ve got everything figured out and you’re ready to sell up. When should you do it?
What’s widely known is that August is a bad month for sales. In fact, it’s one of if not the worst month of the year. Want to know why August is a terrible time to sell your property in Malta? Well, for one thing, August is the month where everyone goes on holiday! This is especially true of families with kids, as August is smack bang in the middle of the summer holidays. So, if you have a three or four-bedroom house or apartment, you might not want to put it on the market during the summer.
Even if you’re looking to sell something smaller, like a one-bedroom flat, you might want to reconsider listing until after the summer holidays. Many businesses in Malta go on shut down for a week or two during August, and so even buyers without children will probably be relaxing, tanning or holidaying rather than looking at or making an offer on your property. Likewise, between the end of November and January is an unfavourable time for the sales market.
People aren’t interested in finding a new home when they’re busy preparing for Christmas or looking after the kids over the Christmas holidays. Modern Christmas traditions are way over the top! If you have a big family (and you graciously offered to host), it can take weeks to get everything ready.
There are presents to be bought, decorations to be put up, and food to be planned and prepared!
It’s a big task and it seems to get more stressful every year. Many buyers don’t like to add stress to their schedule at this time of year, unless they have to, and the majority would rather wait until after the new year to start looking for a new home.
Now we know that the summer and Christmas aren’t the best times to sell your Malta property, let’s talk about when is. The last two weeks of November aren’t great but the beginning of November and the months before (i.e. September and October) are often opportune times for sellers. After the hectic summer holidays and settling the children back at school, buyers with families have more time to look around and go on viewings. Anyone who’s looking to buy at this time of year will also want to make sure they’re settled in time for Christmas. Any closer to the festive season than mid-November and buyers might be looking for a quick bargain instead!
Even better than autumn is spring. As verified by many independent researchers, the spring is the top time to sell. May, specifically, seems to be the best month but all of spring is a good time for sellers. Why might this be the case? Well, there are a few different reasons that have been put forward. One being that houses tend to look their best during the spring. The longer days bring more natural sunlight into homes. If you have a house with a garden in Malta, it will be in full-bloom in spring and looking its most lush. What’s more, people tend to be in a better mood at this time of year! Temperatures are rising and these warm days have a tendency of putting a smile on people’s faces. In addition, buyers with children who are looking to move will want to ensure they’re well settled by the time the next school year starts in September.
Whatever time of year you’re looking to sell your property in Malta or Gozo, Zanzi Homes is here to help. Our sales specialists will help you find the right buyer for your property any month of the year. We can also give expert valuations and advice on how to get the right price for your apartment, house or villa. Let us help you get the deal your property deserves. Call us or drop into any one of our branches in Gozo or Malta. Aside from our expertise and dedicated customer service, another reason to choose Zanzi Homes is that we aim to plant a tree for every home we sell! Get in touch today.