As we step into the New Year, many of us are setting new goals and making plans for the months ahead. January is an ideal time to reassess your living situation and consider whether it’s time to sell your house. Here’s why January is a great time to start preparing your home for sale and how you can get started.

A fresh start for the market

The housing market typically slows down from October to December, with fewer properties listed and less activity overall. However, as the New Year begins, the market starts to pick up again. People are eager to make changes and take the next step on the property ladder. By preparing your home for sale now, you can get ahead of the spring rush and attract buyers who are ready to move quickly.

Advantages of selling early in the year

Selling your home early in the year has several benefits. Firstly, you can avoid the crowded spring market, where competition can be fierce, and it may take longer to sell your property at your desired price. By listing your home in January, you can stand out and attract serious buyers who are looking to make a move before the market becomes saturated.

Additionally, selling early can help you avoid getting stuck in a property chain. With fewer properties on the market, there is a lower chance of delays caused by other buyers and sellers. This can make the conveyancing process smoother and faster, allowing you to move into your new home sooner.

Preparing your home for sale

To ensure a smooth selling process, it’s important to start preparing your home early. See below some recommendations on how best to prepare to sell your home:

  1. Select a conveyancing solicitor: Choosing the right conveyancing solicitor early on can help you navigate the legal aspects of selling your home. They can start preparing the necessary documents and ensure everything is in order, reducing the risk of delays when a buyer is found.

  2. Declutter and organise: Take advantage of the quieter month of January to declutter your home. Clear out items you no longer need or want, as a tidy and organised home is more appealing to potential buyers.

  3. Make necessary repairs: Address any minor repairs or maintenance issues that could deter buyers. A well-maintained home is more likely to attract offers and sell quickly.

Upcoming Stamp Duty Land Tax increases

It’s also important to be aware of the upcoming changes to Stamp Duty Land Tax (SDLT) that will take effect from 1 April 2025. The nil-rate threshold for residential properties will revert to £125,000, and SDLT will be payable at 2% on the purchase price between £125,001 and £250,000.

First-time buyers will also see changes, with the nil-rate threshold dropping to £300,000 from £425,000, and the cap on qualifying properties being reduced to £500,000.

These changes mean that buyers will face higher SDLT costs, which could impact their purchasing decisions. If you’re planning to sell your home, it’s worth considering these changes and how they might affect potential buyers.

Contact a Conveyancing Solicitor

January is a great time to start preparing your home for sale. By getting ahead of the spring market, you can attract serious buyers and avoid the delays and competition that come later in the year. With the upcoming changes to Stamp Duty Land Tax, it’s more important than ever to be prepared and make your home as appealing as possible to potential buyers. Start now, and you could be moving into your new home sooner than you think. To discuss your conveyancing requirements with one of the team here at Farleys, please call 0845 287 0939, contact us by email, or use the online chat below.