Many investment property owners have the mistaken belief the holidays are a terrible time to sell a duplex.
Here are 10 reasons the holidays are actually a great time to sell:
- Properties tend to show better when they are decorated for the holidays. In fact, your tenants may have decorated and even picked up their units for family gatherings
- Winter buyers are more serious than their spring/summer counterparts. After all, if you didn’t absolutely have to be out in the snow and cold looking at property, would you be?
- Duplex, triplex and fourplex buyers get tremendous tax advantages buying at the end of the year.
- There is less inventory for buyers to chose from, therefore sellers have less competition.
- Less competition means higher prices.
- January is a big month for moving. With job transfers and school calendar breaks, many people focus on moving specifically in January, rather than over the course of a summer.
- When you sell your duplex over the winter, there will be more properties available to chose a replacement property from when the spring market begins.
- Your rental property is occupied. To investors, not having to find tenants over the winter may be a bonus.
- Showings can be restricted so as not to interfere with tenant’s family activities.
- Buyers can be more emotional over the holidays. While this may not be a factor if your property lends itself primarily to being 100 percent tenant occupied, it may be a significant one if your duplex is currently or is conducive to being owner occupied.
If you’ve been thinking about selling your duplex, but waiting until spring, thank carefully. Now might be the perfect time to beat the competition and net more for your property.