Why spring might not necessarily be the best time to sell property

I have never been one to follow rules to the letter – not a blatant disregard mind you, I just like to push the boundaries and see if there is something better.

This time of year we sit on the verge of spring. New lambs frolic across our TV screens, and there is a new energy and excitement that comes with the warmer weather. With that we start to see the thickening of the real estate section of the newspaper.

This is part of the spring myth. There has also been the rule that you should sell your house in spring. If we were in the depths of 10-foot snow drifts and finally there were light at the end of the tunnel then yes, I could see the possibility that a property would look better in the sunlight then in the six months of dark and dreary weather. However, in Australia I just don’t buy into the spring myth. Our winters are mild and in truth if you need to sell your house then sell it when it looks its best – that may not be spring.

I have bought and own properties around the country and overseas and I buy when I can afford it and when the intensive research proves it is a good buy. As covered in my new book Your Property Success with Renovation, I follow the ‘trident strategy’:

1. buy below the market;
2. in a growth area; and
3. add value.

These are the three ways to make money. The reverse is equally true: if you want to sell your property you want to make sure that you make money. Hence if the general myth is that everyone sells in spring then it would lead me to think that there is more competition and hence potentially more difficulties in selling, especially if your property is not comparable to all the others on the market. Just a thought.

The whole “sell in spring time” to me is a marketing fallacy – the reality is astute buyers,  be they home owners or investors, should only sell when they get the right price and when they want to.

However, the truth is that many people don’t have a property buying strategy, let alone a three prong one like the Trident strategy, hence they don’t have a buffer of cash or equity in place that allows them to sell when they want. They have the timing of the sale dictated to them, ie when the bank says you are selling or when they just have to have that property for sale around the corner. For those who do have the luxury of selling when they want then I suggest hold out for when your property has the greatest chance of making you money.

Spring is a great time of year, but don’t limit yourself to a single quarter of the year to make money. For instance, my beachfront unit in Bondi has amazing views. It definitely looks better when it is sunny, however in summer the maddening dash to find a park would turn anyone off. The reality is late spring or early autumn is a perfect time to rent or sell that type of property.

If I were buying a property in the highlands of NSW then the magic of winter and the open fire burning would lure me to that property – if I were an emotional buyer buying in northern Queensland, then any visiting southerner would be tempted by the warm winter weather. Each property has its own thermometer and depending on where it is then it may be more attractive to sell or rent it at a time that does not correspond to the myth of spring.

Spring is fast approaching, along with it the launch of the real estate frenzy that comes with it. I just urge you not to buy into it. If you are selling, be strategic and look at the right time for you and your property, and if you are buying, buy when you can afford it and with extensive research so you are not going to struggle when you need to sell it. The secret of successful property purchasing is buying the right property at the right price and then selling it when it suits you on your terms to make money.