Is there any point putting my home on the market before the Election, or should I wait?
ASK THE EXPERT
A. As a general rule, most estate agents will tell you that when it comes to putting your home on the market, there is no time like the present. Why? Well, because whatever the state of the market, it’s basically the same for everyone. Swings and roundabouts, in other words.
However…it is undeniable that elections tend to have something of a depressing effect on the market - probably due to the added element of uncertainty that they introduce into our lives. As a result, both buyers and sellers are doubly likely to hold back from making any major decisions until the result – and the consequences of that result – have become clearer.
In the case of this particular election, that uncertainty looks to be even greater than usual, since it looks too close to call. There is even widespread speculation about a hung parliament, which could take us all into uncharted territory.
Given all of this, I can certainly understand why you might be tempted to wait and see how the land lies – after all, by the very nature of your question you’re clearly not in any tearing great hurry to move. Besides, you can always spend the next few weeks getting everything lined up and spick and span, so that you can be one of the first to hit the market once all the political dust has settled.
But then again, if you really do need to move home fairly soon – and if your current property is well-maintained and already in tiptop condition – then there’s an equally strong case for going to market right away, rather than waiting. You won’t necessarily get a huge amount of buyer interest in the next few weeks. After all, most people will have other things on their minds. But you never know! Besides, the uncertainty engendered by an election doesn’t always evaporate immediately the votes are counted…
All in all, I suppose this is just a roundabout way of saying that there are potential pluses and minuses in every situation. Ultimately, there is no right or wrong time to put your home on the market. You must do it when it suits you.