The spring selling season has started, and competition is heating up. Proof is the flood of new homes for sales have hit the market and buyers are on the hunt for bargains.
Typically the number of homes that come up for sale is cyclical, with stock declining between May and September before increasing in spring and the early parts of the year.
Spring is considered the right time to sell property, as the warm weather is ideal to hold home inspections, the gardens tend to look more gorgeous, and many buyers would like to move into their new home before the start of the holiday season. However, it means you’re competing against more buyers and it could mean paying more for the property.
Here are the things you need to do to prepare for the spring selling season: declutter your home, pay attention to presentation and take advantage of natural light and the outdoor spaces.
To prepare for the competition, monitor the number of people who are also looking at the property and don’t discount the possibility that the property that no one is looking at could be the best deal.
While spring is customarily the ideal season for buying and selling, a rare high level of competition is seen in the home loan market in 2017. Lenders are competing to draw high quality mortgage clients resulting from the government crackdown on riskier loan types. So you should perhaps consider refinancing with your mortgage broker to find the lowest variable rate for a home loan.