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Real Estate » Query Zone

Posted at: Jan 7, 2017, 12:48 AM; last updated: Jan 7, 2017, 12:48 AM (IST)REAL TAKE

Selling you property? Season does matter!

Narasimha Jayakumar

With the exception of monsoon, all seasons are convenient for conducting property transactions in India. However, there are certain months which are perceived as relatively favourable for home purchase, and it is the same period that a seller must capitalise on:

Spring: The end of winter and onset of spring (typically the months of February and March) heralds plenty of sales transactions in the housing segment. This can be attributed to buyers attempting to conclude deals due to the pressure of saving tax and producing investment proofs. Furthermore, for an end-user, the weather being neither too hot nor cold, proves quite conducive for site visits and shifting. Therefore, spring is a good time for you to put your home on the market for sale as there is a greater probability of finding buyers. 

Summer: Although a few home sales do happen during the months of April, May and June, potential homebuyers and investors await the festive season, which is placed just a quarter away, usually starting September every year. In addition, families prefer going on long vacations to cooler climes as schools and other educational institutes close for over a month. Summers, in India, are mostly associated with holidays and enjoying the comforts of air-conditioned rooms. Not many buyers would venture out in the heat to view a home unless there’s an urgency. All the factors combined, there’s a lull in the market. Therefore, you might not find a wide base of buyers seeking your home. 

Monsoon: This is deemed to be a lean season for several reasons. While most metro cities battle traffic congestions, potholes, mud puddles and power outages during the months of July and August, homeowners have to deal with seepage, damp walls and cabinets, stains and peeling paints. If you open your house during this season, there is a high probability that the buyer will be at a vantage point. Therefore, it is always recommended that you wait for the monsoons to retreat, paint or repair your home, if required, and subsequently embark on the process of selling. 

Winter: After the festival season of October and November, December usually becomes the month of hiatus in the realty sector, which gives way to a very active January. With most people readying themselves for the new financial year, starting April, the market witnesses a lot of traction. January is a good time to sell your property. You will find a decent buyer-investor base, most of who would be eager to close the deal by March.

The most active season in India is the festive season, which usually starts from September and goes on till December end. However, due to the demonetisation drive this year, you might be able to find only a modest buyer base for your property this year. Nevertheless, advertising your property right and hiring the right broker can come handy in clinching a good deal.

Last but not the least, it is imperative that you do not rush into opening your house to the market simply because the season seems right. Preparing yourself and your home for the sale is imperative, sans which you could set yourself for a fall. Further, if you do find a potential homebuyer whose requirements match yours, you should move quickly before they change their mind.

— The writer is Chief Business Officer, 99acres

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