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It’s time to consider when would be the finest time to sell your property so that you can receive the best offer now that you have stated your purpose for selling and have read up on your local real estate market to some level. This choice will mostly be determined by your motivation for selling, even though current market conditions will have an impact.
It’s important to research local real estate trends and time the sale of your current home in accordance with those trends if you intend to sell it in order to reinvest the proceeds in another property for higher profits. In this particular situation, you might be ready to wait and observe for a few months in order to see the market perform better.
In case of relocating, for example, you might be pressed for time and eager to settle your affairs in your current city before leaving.
However, it would be in your best interest to think about and reflect on the seasonal property sale patterns in India so that you can make a more wise and well-informed choice. Keep in mind that buyer activity levels in India typically do change with the seasons.
Best Time to Sell your property
The short answer is that it does matter when the time of year you select to list your property for sale because India has a distinct seasonal pattern for home purchases. The demand for properties may be greater or less, or the conditions for visiting a property may or may not be favorable, depending on certain factors that are specific to each season. You might discover that while one season brings in a lot of responses for your property, another sees a decline in activity.
Following are the various seasons in India and the property purchasing patterns there in:
This time period, which begins in October and lasts until January, is filled with important holidays like Navaratri, Dussehra, Diwali, and Christmas. India views festivals as a lucky time to invest and make significant purchases, including purchasing real estate.
Due to the market’s optimism and high levels of buyer activity, this is generally considered the best time of year to sell real estate. Additionally, many businesses give out holiday bonuses around this time that typically amount to 15 to 25 percent of the yearly wage, boosting the purchasing power of the service class.
These elements indicate that this time of year may be a great time to list your home for sale.
In general, this season sees a lot of real estate purchases because many Indians still value these practices, even though some new-age home purchasers may not be as concerned with the necessity for good fortune to acquire a property.
The months of February and March—the start of spring—mark the end of the winter/festive season. In comparison to the holiday season, this time of year also brings inside a lot of real estate transactions.
Since the financial year, which ends on March 31, is coming to a finish, you, as a seller, can encounter numerous buyers who are wanting to invest in a property in order to receive investment evidence and save tax.
Around this time, the annual raises for employees are announced, potentially increasing activity in the real estate market by increasing disposable income and spending power. Having said that, the nice weather during this time of year also makes site visits by end-user home buyers possible.
The beginning of this season, which lasts through April, May, and June, is marked by well-known holidays for the significant festival celebrated which stimulates a rise in real estate deals.
Then there are the potential house buyers who have the time and patience to hold off until the holiday season because they anticipate better deals then. When their children are on summer vacation, some end-users with children might take advantage of the opportunity to look at houses, while others might choose to take their children on vacation.
Nevertheless, the heat is a constant factor that discourages site visits, and overall, this season is less active than the holiday/winter season. Due to the low number of purchasers in the market, you might not be able to sell your house for the most possible profit during this time.
During the monsoon season, which lasts from July to September, there are numerous obstacles to selling real estate. Since big cities frequently have waterlogs, potholes on the roads, traffic congestion, and power outages, many people believe that this is a bad time to sell a home since it deters potential buyers from visiting.
Due to unforeseeable problems with the property, such as seepages and leaks, many sellers also experience difficulty during these months. Although there may be less buyer activity overall during these months, some buyers make it a point to specifically inspect properties during this time to evaluate their dependability and weather resistance.
In addition, these months are when a substantial portion of India observes “aadi” (primarily in South India) and “Shradh,” both of which are seen as unlucky times to make significant purchases.
Therefore, it would be wise for you to assess how your property is doing on rainy days and perform any necessary work (which could include repainting walls or fixing fixtures) before scheduling buyer visits.
Always keep in mind that buyer activity is influenced by local real estate conditions and the state of the economy as a whole, regardless of the season. In order for you to prepare for different seasons as a property seller, this information is meant to provide you an insight into how real estate purchasing patterns in India operate.
Disclaimer: The opinions shown above are mainly for informational reasons and are based on market research. Deal Acres is not responsible for any actions made as a result of relying on the provided material and makes no representations as to its accuracy, completeness, or reliability.