Fact or fiction - is there a ‘best time’ when it comes to selling your provincial residential, rural or lifestyle property?

If you’re thinking about selling your property - whether rural, residential or lifestyle - you’d want to know when is the ‘best time’ to do so.

Of course it’s important to get a good sales price, without the process taking too long, but is there even a ‘right time’ to sell, or is that just a myth?  

While you may want to time your sale when prices are high, or in spring when the garden is looking its best, there are actually a few key considerations to make when it comes to choosing the most favourable time to put your property on the market. But not all of these have to do with market conditions - some factors are actually a bit closer to home.  

So for provincial property owners, there’s a few things to weigh up before deciding to move on. (While these primarily apply to residential homes, some are certainly applicable to rural and lifestyle properties too).

Are you ready?

One of the most important things to do is to ask yourself ‘am I ready to sell?’

Selling a home is time-consuming at best. From always needing to have your property ‘viewing ready’, to making significant decisions, tidying and decluttering, maintenance, renovations (if need be), all while still trying to live your day-to-day life. You need to be realistic about having the energy that goes along with having a property on the market.

Sure, a good agent will do a lot of the work, but you still need to be able to keep the house looking good for inspections and open homes/open days, as well as consider offers when they come in. So if life is a bit hectic at the moment, think about when you will have the patience and head space to live in a transitional state for a short period.

Also consider your motivators for moving - if they aren’t significantly important right now, then you may not put in the effort required to have your home ‘sale ready’. And you could also waste plenty of time just rejecting any offer that comes your way, because you feel rather nonchalant about the whole idea of shifting house.  

A few other valuable questions would be why do you want to sell, and what are your future plans? If it sells quickly, you need to be ready to move, and also work out if you’re going to buy in the same market, or relocate.

Your house sale needs to be seen in a positive light, so you’re in the best position to benefit from it. Because if you feel burdened by the selling process, you’re less likely to see your house sale as a good move. Hence, it’s not the ‘right time’.

And how about the house?

So you’ve asked the hard questions of yourself, and have decided that yes, you personally are ready to put up the for sale sign out front. But is your house ready?

To get a satisfactory sale price you want to take your property to market looking its absolute best. So are there things you’ve been happy to live with that actually need remedying for a potential new owner? Think about what needs a fresh coat of paint, fixtures and fittings that could do with updating, and gardens which may require tending to.

Once you’ve written a list, it might be a mile long (and if it isn’t, perhaps you weren’t honest enough), but now is the time to look at how you’ll tackle them. If they are small jobs, you may be able to get them sorted in a month or so. But anything bigger might impact on when you go to market - or if you leave it ‘as is’, it must come with the understanding that it could devalue your property/take longer to sell (depending on competition in the market).

What are your potential buyers doing right now?

Look to your target market to understand where they are and what they may be doing (or be preoccupied with). You want to market to them when they are available and ready to make big decisions.

A good agent will be able to guide you on who your potential buyers would be (first home buyers, families, downsizers or investors) and let you know when is the ideal time to present your property to them.

How’s the housing market looking right now?

While this is always an element to have one eye on, it shouldn’t be viewed in isolation.

As a seller, it’s hard to not get caught up in ‘my property isn’t worth as much as it was a year ago’, or something along those lines. But the fact of the matter is, most of the time you’ll be buying back into the same market, so it all evens out. I.e. Once you sell, you’re now a buyer, and can benefit from any ‘lower’ values that may be present.

Yes, there are supposedly ‘better times’ to sell in the property cycle, but if you have an in-demand home in an in-demand location - then you’re relatively safe from those wider generalisations.

Where do you want to go - and can you get there in the near future?

Whether you have a fair idea of your next move, or aren’t really sure at all, it’s definitely worth taking the time to talk to a couple of experts - a local, reputable real estate agent, and also your mortgage broker.

Not only do you need to have an understanding of your property’s value, but you also have to find out if you’re in a financial position to get to where you want to go. Maybe another six months of paying more on your current mortgage will give you a leg up to somewhere new. Or if the market looks to remain stable for the next year or so, what’s the point in waiting if you’re ready? Make the move now!  

Are there other factors at play?

Depending on the type of property you’re selling, or looking to buy, there can be some seasonal trends you may need to consider. For example, in rural farming it’s not ideal to sell in winter - which is why buying in spring is so popular. It’s when most properties look their best, and it allows new owners to get themselves settled before the next winter rolls around.

If your house faces north, then you’re probably lucky enough to sell at any time during the year, but if you’re on a south facing site, then perhaps winter won’t be a winner. However if it snows where you are, a white wonderland could be just the thing to sell your property to an out-of-towner looking for a refreshing retreat, or the colour of autumn on the trees could be when your street looks its best!

Whichever is applicable to your property, think about whether it really is the right time to put your house on the market - as a fresh new listing during peak selling months (whenever they are for your region) is ideal.  

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So there you have it. There IS a best time to sell your provincial residential, rural or lifestyle property - but it comes down to a wide range of factors, not just what the market is telling you to do.

Wherever you are, and wherever you want to go - get in touch with a local.

PGG Wrightson Real Estate agents live in your community too, and are always ready to help you with a free and personalised appraisal of your property.