Springing into the Property Market

In this area of France, as in many others outside of major cities, the property market is a buyer’s market, where supply outweighs demand and often properties remain on the market for some time. With the exception of the areas where Winter sports are key to commerce (in which case the Spring is the end of their peak buying/selling season), Spring is the season when many home owners decide to sell, shaking off the Winter urge to hibernate and gearing themselves up to make the life changes they have been planning. The result is a market even more biased towards buyers, but that doesn’t necessarily mean you aren’t going to succeed in achieving a sale.

Let’s look at the Spring market for this area, from both buyer and seller perspective.

Buyers:

There are a number of benefits to buying a home in the Spring, but that doesn’t mean there are not downsides either. While buyers may notice new properties hit the market, they may also face increased competition.

For potential home buyers, some of the Springtime benefits include:

More Choice: Springtime generally sees an increase in the number of properties being marketed. Sellers often make the decision to move over the Winter and put their plans into action as soon as the weather will help present their properties in a better.

Matching your needs: there is an increased possibility of finding a home to match your specific requirements, with the features you are looking for.

While Spring is one of the most popular times to buy a home, that doesn’t always equate to the best deal. For potential buyers, some of the disadvantages are as follows:

Increased Competition: Because it’s the most popular time to buy, your competition will be significantly increased, with many other buyers taking steps towards finding their new home.

Higher Prices: Again, because many properties are being marketed for the first time and because sellers know there will be more buyers looking, there is the likelihood sellers will market at maximum market price and may well be less inclined to negotiate.

Sellers:

Spring tends to have positive connotations for sellers. In light of the UK having an agreement to leave the EU, many sellers are asking if there are still potential buyers and worry that their chances of selling have suddenly decreased.

This isn’t the case for the following reasons:

Buyers come from many countries of the world, not just the UK and increasingly, nationalities not previously known for property purchases in France are making their property purchases here. Not forgetting of course, existing French residents move home because of various life changes and economic reasons, plus purchase holiday homes.

Secondly, because it has been agreed that any British person who purchases a property for permanent residency in France up to the end of 2020 will be given the rights afforded to those who are already permanent residents, the industry as a whole is expecting an increase in numbers of buyers purchasing to become permanent residents over the coming months. The next few months will reveal whether this opinion is substantiated, especially if the date for the UK actually leaving the EU is brought forward, of course, but that is certainly the consensus, given current information.

While the Spring market looks promising for sellers, that does not mean they should enter the market unprepared.

For potential home-sellers, some of the Spring time benefits include:

More buyers: Often buyers have spent the Winter deciding which areas are suitable for their property search, some even already have some properties in mind to view, chosen from those marketed over the Winter months, then adding to their list of potentials by filtering those which come to market in Spring.

Time may be on your side: Unless you are in a position where you simply have to sell immediately, you may take the view that you will not take an offer and will hold out for buyers willing to pay the asking price, or as close to it as possible. If your property is marketed at the correct market price (and only if it is) and has a high level of interest, this can pay off…but beware, as it is a risky strategy and could leave you still trying to sell in months to come. My advice would be to price your property to sell at the correct market price and be prepared to negotiate to achieve a sale. Weigh up the possibility of not being able to move against holding out for a price which may never be on the table.

Better presentation: A good Spring clean and spruce up of the outside and inside, to dust off the Winter will help your property shine in the Spring sun benefitting from lighter days, which simply help lift the feel of the property.

Spring also presents some disadvantages for sellers, which include:

Buyers time advantage: Often, especially with holiday home searchers, buyers are happy to take their time looking around the areas and at various properties over the Spring and Summer, so are reluctant to commit immediately. If the buyers have the advantage of time, then they may also be willing to take a chance that a seller will be more willing to negotiate if their property has been on the market for some time, so will not offer on property new to market in the Spring.

More Sellers: Your competition increases in the Spring – new properties to pull the potential buyers away from your own.

So, let’s look at how you can review your property for sale this Spring:

Selling tips:

It is necessary to understand the pros and cons before listing a property, no matter what time of year it is. There are some tips that can help ensure you find success. Think about what makes your property unique, and how you can best show case it to buyers. By putting the time in to your home and listing, you can help make sure your property sells quickly and for what it’s worth.

If you’re planning to sell a home this Spring, whether new to the market or having been on the market over Winter, consider the following tips:

Price To Sell: Whether it’s Spring, Summer, Autumn or Winter, if your house isn’t priced right it’s not going to sell. At the very least, poor pricing could force your property to sit on the market for a long time. Research comparable properties in the area, and/or listen to suggestions from your estate agent and choose the right price for your home. Don’t be afraid of asking for fresh price estimates from professionals.

Increase Curb Appeal: Check the exterior presentation and carry out necessary maintenance, refreshing tired paintwork, cleaning paths and drives. Remove Winter garden debris and consider using seasonal blooming flowers and shrubs to provide a welcoming first impression. Also, think pollen – a dusting of yellow pollen over your window sills could be a drawback, so if you are in a high pollen area, check and clean regularly.

Refresh: You don’t necessarily have to redecorate your home by any means, but it is a good idea to add a few Spring touches here and there, accentuation Spring pastel colours. Let as much light in through windows as possible.

Prepare For Viewings: To help make all of your Spring cleaning worth it, make sure you are actually ready for property viewings. For example, set out a welcome mat and umbrella holder so potential buyers can wipe their feet and leave their umbrellas at the door before entering the home. This will help make sure you only have to do minor touch ups between viewings, rather than starting from square one each time.

Make Necessary Repairs: If you are aware of any potential problems with the home be proactive and make any repairs before selling. This can help speed up the selling process and ensure a smooth transaction.

Summary:

Traditionally the busiest time of year across most of France, Spring generates an onslaught of activity that can be mutually beneficial for home buyers and sellers alike, with a sense of positivity for all. While the best time to buy or sell a home is when it’s right for you, there are undeniable benefits of the Spring market.