As it seems to do every year, Christmas has once again snuck up on me. The years do not appear to be slowing down and it seems that everybody in Century 21 offices around Australia are busier than ever.
An enquiry I get from many people around this time of year surrounds buying and/or selling property in the lead-up to, during and directly after Christmas and whether or not they should do it. In my experience, Christmas can make things tricky, simply because you may not have as much time to be looking or preparing for sale as you would at other times of the year; however this doesn't mean that now is not as good a time as any to be taking on the property market.
For sellers, an issue that often arises is how your home should be presented. Can you keep your Christmas tree and other decorations up? The jury is often split on this one – many people will tell you that everything Christmassy should be removed and your home should be presented as it would at any other time of year, while others will encourage you to embrace the festive atmosphere and decorate accordingly.
My advice to you around this time is exactly the same as it would be in any other month – when presenting your home try to ensure that it is uncluttered and tasteful. People should be able to envisage themselves living in your property and feel at home.
For buyers, purchasing a property at Christmas time can have distinct advantages. Competition is often reduced at this time of year, as many people are busy preparing for Christmas or have gone away on holidays. Additionally, the properties on the market may be remnants from the spring selling season, which means they may have been up for sale for quite some time. If this is the case, sellers are often keen to have their sale wrapped up before the New Year brings a new set of property offerings to tempt buyers away from their own.
One thing to note when buying at this time is that many of the companies you will use to conduct your property inspections, strata reports etc, may have closed up shop for Christmas. If buying at auction, be sure to understand that the price achieved is final – you cannot go back to the seller if a later inspection reveals flaws in the property. If buying privately, with legal advice, try to reach a deal where your accepted offer is contingent on the results of an inspection which will take place in the New Year.
In any case, good luck if you are planning on selling or buying over Christmas. And for everybody else, I hope you have a fun and relaxing time over the holiday season. I will be taking a little bit of time off writing these blogs to enjoy a nice break but never fear, I will be back in 2011 to keep you all abreast of happenings in the property market.
I hope each and every one of my readers has a happy, safe and memorable Christmas and New Year. See you in 2011!