Is selling a house more difficult in the winter?
It's an excellent question, and if you ask around, you'll probably get a variety of answers.
In my opinion, personal and financial circumstances of each person determine this more so than the weather, though the market's state is obviously still a role.
In Ontario, spring and fall are widely regarded as the best times to buy and sell. While it is true that real estate transactions take place year-round, the winter months may present some unique challenges.
Although spring and fall may see a higher volume of buyers and sellers, that doesn't necessarily indicate that winter is a bad season to sell.
Why do I say that? So, if there are fewer properties for sale during the winter, potential buyers may be more interested in your property. Additionally, you can be fairly certain that someone is serious about finding a property and closing a sale if they take the time to see your home in the frigid weather.
Despite this, each transaction is unique. In order to decide if selling in the winter is a good option for you, here are a few items I would recommend you to consider and talk about with your agent.
the closing dates for your present and future homes side by side. You might want to hold off on selling your current house until the spring market is in full swing if the closing of your new property is delayed and there is a reason to believe that the market is not optimal for your sale.
Even if the closing date for your new home is quickly approaching, if you decide to hold off on listing your present home, be sure you are happy with the costs associated with owning two homes at once and arrange bridging financing.
Keep in mind that everyone's safety comes first. You might normally get a lot of snow in the winter depending on where in the province you live. Because of this, pathways, steps, and occasionally even roofs need to be kept clear of snow and ice at all times. This is an essential step in the selling process throughout the winter, especially if many individuals attend showings, which frequently happen at short notice.
In the event of an unforeseen incident, I would also advise you to confirm with your insurance company that you have sufficient coverage on the property.
Selling a house requires effort and time. As always, I advise finding a qualified real estate agent who is aware of your circumstances, values open communication, and can offer wise counsel. Ask questions about an agent's experience, knowledge, services, references, fee schedule, availability, and anything else relating to how they intend to market the sale of your house, with a focus on the effect of winter and snow.
Having said that, always keep in mind that you are in control even though agents are educated experts who may lead you through the sales process. Therefore, be sure to conduct your own study and carefully examine market trends. With your agent, go over everything you discover. Agents value informed buyers and sellers.
If you have a questions about the home buying or selling process, feel free to get in touch with Charles today!