Winter is here and your focus has turned to kids’ sports, holiday plans and perhaps that vacation south you’ve been dreaming about. Selling your cottage may not be top of mind - conventional wisdom says it is best to plant the for sale sign when the flowers are blooming and the weather has warmed up. Not necessarily so.
The cottage real estate market has become an active 12-month cycle with compelling reasons why listing in the winter, rather than waiting for spring, can actually work to your advantage.
1. Less Competition
Since fewer people list their properties in the colder months, yours will stand out. It’s true that fewer people tend to list their cottages during the winter months, but this means that your property has a better chance of standing out amongst fewer competing listings. Wouldn’t you prefer the exclusivity of being the only cottage for sale on your lake, than have three of your neighbours also selling at the same time?
2. Motivated Buyers
It takes a little more motivation to bundle up and go look at properties when the weather gets cold. Yes, the holidays keep people busy, and many people are traveling or entertaining guests, but these small hurdles just mean that you will likely avoid wasting time with buyers who aren’t serious and ready to make an offer. The curious neighbours or “we’d like to buy a cottage in the next year…or two” buyers are not as likely to be making the winter rounds in cottage country. Motivated buyers are more likely to have financing in place and to know what they want, and so you are more likely to have showings turn into serious offers.
3. Reduce Carrying Costs
Selling your cottage in the winter means reducing the taxes, maintenance and utilities on the property over the winter months. It also means you don’t have to spend a spring weekend opening up the cottage to prepare it for sale.
There are obviously many unique factors that go into the decision of when to list your cottage property for sale. If you are considering listing in the winter, or circumstances have forced you to list over the winter, contact us at kawarthalakeside.com to see how we can help simplify the process for you.