Year end brings spike in sales
There is a global trend towards the sale of residential homes surging in the summer months and as the year turns - in some countries this could mean the period between the academic year ending and beginning.
The UK’s online property advisory site TheAdvisory. co.uk, says that the end of school (or university) term is a great time to have your property on the market.
In the UK, July/August is when that country is on holiday and changing terms – it is also summer so gardens would be in full bloom. This mirrors our December/January period and is certainly true of South Africa in general and Grahamstown in particular.
Says Steve Birt, principal of Grahamstown Properties: “The last four months of the year are a good time sell your student accommodation because that is the time of the year when parents of finishing students decide to sell and other parents’ thoughts turn to investing for the future years of study and how to make a little money out of an investment in property that will offset some of the fees.”
Monika Gaybba principal of IPC Properties in Grahamstown says they are “very busy at the moment” as houses come on to the market at the end of the year.
“At this time of year, people decide to upscale or downscale. I used to turn over certain properties every five years, but that has now stretched to about every seven years. People realise that rents are high and it is better to buy,” Gaybba said.
“Those properties also become investments for them, to rent. Grahamstown is an education town with major institutions and schools here.”
Seeff Properties chairman, Samuel Seeff, says demand tends to spike from about October onwards with a notable increase in buyer enquiries and show house attendance.
Annual bonuses, salary increases and job promotions also impact demand in the latter and early part of the year as homeowners start thinking about upgrading or downscaling.
This is also when adult children start thinking about leaving home or heading off to university, leaving emptynesters to start looking around for smaller accommodation or even a move to the countryside or coast, he says.
Those who find the economy tough will also look to downscale to a smaller home, more affordable neighbourhood or perhaps consider moving into rental accommodation for a while. First-timers will also usually start thinking about getting a foothold in the property market, says Seeff.
So it is summer time, 2017 is around the corner. How do you make your home stand out from the crowded market? When the temperatures start soaring up past 30 degrees and riding around in a hot car to view homes on sale is the last thing anyone wants to do, having your home cool and “summer-ready” for prospective buyers can make it really stand out among other listings – and significantly increase your chances of selling it.
“Summer is a great time to be selling,” says Gerhard Kotzé, MD of the RealNet estate agency group, “because lots of families have some extra time to look for a new home as the school and workyear comes to an end. Gardens and outdoor areas are generally also at their best at this time of year.
“But the heat can sometimes also make people reluctant to come out for a viewing, or reluctant to stay for long, so you need to make it worth their while.”
With this in mind, here are some suggestions for presenting your home as a cool and welcoming oasis where prospective buyers feel inclined to linger, look around some more – and then to make an offer:
•If you have time, paint your home inside and out in white or a pale neutral and varnish any woodwork.
•Remove or pack away anything that immediately says ‘winter’, such as heaters or heavy curtains or warm throws hung over beds and couches. If you have a fireplace, decorate it with summer flowers or plants.
•Consider rolling-up and putting away your loose rugs to show off your freshly varnished wooden floors or an expanse of cool tiles.
•Be ruthless about de-cluttering every single surface. “If you haven’t used them in a while, give ceiling fans or the air conditioner vents and filters a good clean so that you can put them on when you know there is a prospective buyer coming round and make your home a blissful escape from the heat,” advises Kotzé.
•If you don’t have air conditioning, open the windows and doors on the cooler side of the house to let the breeze in, and make sure all curtains are drawn to let in as much light as possible.
•If you have an outdoor entertainment area, make sure it looks clean and tidy and ready to use. Dress it up with a few containers of flowering plants and set the table if you have one for an alfresco meal under a shady umbrella or gazebo.
•Set out a tray of chilled glasses and some ice-water or cold drinks for those viewing your home. “Everyone appreciates a cool, refreshing drink on a hot day,” he advises.