Should You List Your Home During the Holidays?

According to American Lifestyle, whether you’re big on Halloween parties, planning the perfect Thanksgiving feast, or focusing on the December holiday season, if you’re also planning to sell your home, you may be contemplating holding off until January. After all, nobody buys houses this time of year, do they? In 2020, the answer may very well be “Yes, they do.”

The COVID-delayed spring market and pent-up buyer demand, along with low inventory in the spring and summer selling season and record-low interest rates, means that for many buyers the search for the perfect home is ongoing. If you were thinking of waiting until 2021 to sell your home, you might want to consider moving your plans up and listing your home during the fall and winter months to take advantage of strong buyer demand.

Advantages of Listing a Home During the Holidays

There are plenty of good reasons to list your home during the holiday season, including the following:

• You’re likely to find more motivated buyers during this time of year. If they still haven’t found the home they want—or they have a sudden need to relocate—holiday buyers may be more willing to make decisions quickly. In addition, they may be eager to get moved in for their own holiday celebrations, making them easier to negotiate with.

• Many of this year’s buyers have been disappointed by multiple offers on previous properties due to the summer’s low inventory. They may be willing to move fast and make an offer before someone else does.

• The increasing use of virtual tours makes this the best possible time to sell a home with minimal inconvenience. You’ll also cast a wider net when your real estate agent shares your home’s virtual tour on a dedicated website or as an enhanced feature on the MLS.

• This is a slower time of year for real estate agents as well, so your agent will have more time to focus on your listing. Talk to your agent about ways to get the widest possible audience for your home and its features.

• Let’s face it, you’re already cleaning and decorating your home for the holiday season. What better time to show it?

Challenges of Listing a Home During the Holidays

Of course, listing a home this time of year may bring some drawbacks, including the following:

• If you are entertaining during the holidays, you’ll want to communicate with your agent about days and times when tours will not be available. They are likely offering virtual tours as a convenient alternative for interested buyers and their agents.

• If you are traveling during the holidays, you’ll need to ensure that you are available for negotiations and pertinent questions as needed, and that your agent can come in and prepare the home for showing as required.

• If time is of the essence, it may be difficult to schedule home inspections, appraisals, and closings during the holiday season. Talk to your agent and ensure that he or she has a plan in place to move the transaction forward in the event that you go under contract during the holidays.

Making a Holiday Listing More Appealing

Want to get your home show-ready while also enjoying the holidays with your family and friends? It’s easier than you think. Here are some things to keep in mind.

Lighten up on decorations

While you’ll want to enjoy the season, don’t feel the need to cover every possible surface in holiday decor. It’s important for buyers to be able to see the space and get a sense of how it works during the non-holiday months of the year. Go for a more minimalist, decluttered holiday look that enhances, rather than hides, the home.

Focus on outdoor spaces

Even though it’s winter, don’t neglect your outdoor spaces. Keep paths and surfaces clear of leaves and new-fallen snow. Optimize outdoor lighting so that buyers can see well, even when it gets dark early. Create a cozy seating area on the terrace with candles, a firepit, and a basket of blankets.

Warm up the space

Speaking of cozy, take advantage of the season to enhance the indoors as well. Greet potential buyers with the scent of something baking in the oven and a plate of holiday cookies on the counter. Light pumpkin or evergreen scented candles and start a fire in the fireplace. Make visitors feel welcome and right at home.

Take photos before you decorate

Just in case your home doesn’t sell before December 25, it’s a good idea to take listing photos before you decorate. You don’t want buyers looking at photos with holiday decorations in mid-January. It will make the listing feel stale, even if it’s only been up for a couple of weeks.

Right-price your home for a faster sale

If you’re motivated to sell, this is not the time to test the market and hold out for a higher-than-average sale price. Talk to your agent about comparable properties in your area, and ensure that you price your home correctly at the beginning of the process for maximum market impact.

A real estate agent or broker has the market insights, professional network, and buyer pool you need to get your home sold any time of year. Talk to them about your timeline and your financial requirements and they’ll help craft a plan that makes sense for you.

How To Build a Smarter Buyer Wish List

According to American Lifestyle, there are so many things to think about when deciding to begin a home search. How many bedrooms and bathrooms do you need? Do you want stairs or are you hoping to have everything on one level? Of course, there’s the all-important question of flooring, countertops, and light fixtures. But what else should you be thinking about—and how can you build a smarter wish list that really adds value?

What does your wish list look like?

When you start perusing listings online, you’re probably spending most of your time looking at aesthetics—paint color, finishes, fixtures, and other “shiny objects” In addition, you’re probably thinking about convenience—a second home office, a fenced backyard, and space for a playroom.

It’s natural to think about those personal preferences when choosing a home, but a smarter wish list takes into account those “behind the wall” items that can either add value or cost you big money. In addition, you’ll want to consider whether your favorite wish list items will be worth the cost when and if you decide to sell the home in the years ahead.

Create a value-added wish list

Think beyond paint color and home-style when creating your wish list, and include the following elements in your calculations of the “perfect” home.

Great neighborhood

There’s a reason that the mantra for real estate professionals is “location, location, location.” The same home in two different neighborhoods can fetch two wildly different prices. It’s important to make sure that you understand the impact of a neighborhood on your enjoyment of the home.

One piece of advice that you may have heard is, “Buy the smallest home in the best neighborhood you can afford.” While you may be yearning for a fourth bedroom or a huge bonus room, it may be worth it to choose a smaller home if the neighborhood is ideal. In addition, you may want to consider an up-and-coming market rather than one that’s already filled with amenities. Owning a home in a newly desirable neighborhood may mean big appreciation over the next few years.

Market-appropriate extras

Do you have any unusual features on your wish list? Maybe you’re longing for a pool or extensive exterior spaces like an outdoor kitchen or oversized deck. Maybe you’re thinking of adding a large addition or a guest house once you close on your ideal property. Those are all great ideas, but will they fit the market you’ll be living in?

It’s important to make sure that any improvements you plan or unusual features you require are in keeping with other homes in your neighborhood. Otherwise, you could find yourself trying to sell a home that is so unusual, outsized, or downright odd that you’ll turn off potential buyers and lose money on the sale.

Maintenance savers

We know everybody’s focused on granite countertops and hardwood floors, but it’s a good idea to think about all of those less flashy elements that add value to your home. A new roof can cost you thousands of dollars, so if you have to choose between the ugly kitchen counters with a new roof or the gorgeous granite with an old one, take the new roof.

In addition, look for easy-care outdoor hardscapes and exterior materials to save on maintenance costs, especially if you live in an area where you experience a lot of rain or snow. By focusing on elements that are heartier and easier to maintain, you’ll save time and money year after year—more than enough money, in fact, to pay for some of those fancy wish list items.

Updated systems

Similarly, new appliances, HVAC, electrical, and plumbing systems save you money on maintenance, replacement, and the cost to operate. Just make sure that the homeowners have all of the paperwork so that you know when the systems were installed and that they are the right size and quality for the space. If in doubt, talk to your home inspector for additional information and insights.

What improvements can you make yourself?

What items are worth overlooking in order to add your own value to the home? Here are some wish list items you can cross off in favor of making your own easy fixes after closing.

Perfect Landscaping

What is one of the lowest cost, highest-return investments you can make in improving your home’s value? According to the National Association of REALTORS® (NAR), tree care offers 100 percent return on investment, and adding mature trees is a low-cost way to boost your home’s value. In fact, a great lawn and an upgraded exterior door are among the most cost-effective, highest ROI improvements you can make.

Paint Color

You’ve seen those HGTV home buyers complain about the paint color and rolled your eyes, right? If you find a house that has great bones but a terrible paint job, get excited! You can quickly improve the home’s aesthetics and value with new paint. And the best part? You can pick out the colors yourself so that it’s exactly what you want.

Finishes and Fixtures

Outdated light fixtures, mismatched switch plates, and old-fashioned faucets—they’re a definite turnoff. However, if the home has been well-maintained otherwise, these easy-to-swap features give you the opportunity to add big value at a low cost. Take a weekend and switch up everything or make the changes a little at a time. Whichever works for your budget and timeline, you’ll experience a sense of accomplishment and a hefty return on investment.

Your wish list is just that—yours. It’s up to you to decide what matters most to you and your family. But if you’re looking to make budget-friendly decisions, it’s important to look past the bright and shiny to the solid and secure.