Particularly when the markets aren’t favorable, it can be one of the most stressful times.
Regardless of the state of the property market overall though, there are some periods of the year which are better than others to sell your home. In fact, different seasons tend to attract a different type of buyer.
According to Peter Howe Michigan, this is something which can affect your house sale immensely. If you are looking for that quick sale, a quick tweak to the layout of your home might be in order just to push it through.
Bearing this in mind, let’s take a look at the different groups of buyers and at what time of the year they will most likely be looking to purchase in.
Younger buyers
Whether it’s a young couple or single buyers, it appears as though the most likely time for them to purchase their home occurs in the early portion of the year. This means that it will be January and February when their hunt is at its peak.
Of course, there’s also a difference in the type of dwelling they are looking for. They tend to have their eyes on the lower end of the market, with apartments tending to attract more attention. Of course, their actions then contribute to the whole housing chain – meaning that they can spur on second and third time buyers.
Something else that is interesting about these buyers is that they are happy to prolong their search. It means that they aren’t in a rush to buy – they will bide their time in a bid to find the perfect property.
Families
There tend to be slightly more windows when it comes to families. This group will target their search through the autumn and spring, as well as the early part of the summer.
Why are these times popular? It usually relates to the school year. In other words, when the kids are on holiday, it’s just too time-consuming to look for a new property.
The older generation
Last on our list is the older generation, with this being older couples or even singles. Research has shown that these buyers will tend to dedicate their search for a new home in the warmer months. For the seller, this means that bungalows, and other homes that are much more accessible to the elderly, seem to linger on the market for long periods of time during the winter.
One key difference between the older buyer and someone who is young is the fact that they will make a decision at a much faster rate. As we spoke about, the young are happy to view umpteen properties and mull over their decision. The elderly, meanwhile, are more inclined to make a fast decision in a bid to initiate their move as soon as possible. However, one might also suggest that the elderly are savvier, and therefore these quick decisions don’t necessarily lead to higher prices when they do decide to make an offer.
