The start of the new year for many people is an opportunity to begin with a clean slate and make better decisions for the year ahead. It can also be a quiet time on the listing front for real estate agents. But, there’s plenty of benefit, getting a head start on the rest of the market and this could lead you to exclusive buyers and premium prices.
The beginning of a new year can put pressure on people to cover off a few items that weren’t completed the year before. One of the very emotional decisions, is buying a property. Even if a buyer was only looking in the later stage of a year, a new year brings pressure to move ahead with making a decision. But, a seasoned looker who has spent most of the year looking, well a January sale is nearly imminent, before they completely despise the process of finding a property.
People generally have a little more time to look around as well, as many are taking time off work and have more availability to look. This takes the pressure off trying to squeeze in inspections during work time or cramming the weekend with open for inspections, it also allows them to spend more time in a property and emotionally attach themselves to it. The more the emotion, the greater the price.
The other thing to remember, people are also on holidays. So, not only are people leaving town, but people are coming as well. Now, think about this logically, if a local buyer is looking to spend a lot of money on a property, going on a holiday or leaving town may not be an expense that is affordable pre-buying. So, plenty of buyers you think go away, are still local, with added competition of people visiting and falling in love with the area.
All in all, it’s worth scoping out the market during January. There’s always less inventory, so less competition, happier, relaxed buyers who have a heightened level of emotion during the summer months and a false pressure of having to finalise a decision that was meant for the year before. All these combined could lead to a very good start of the year for you.
The following advice is of a general nature and intended as an opinion and broad guide. For all legal, financial or real estate advice you should obtain independent professional advice to do with the specific nature of your circumstances before making any legal, financial or real estate decisions.