Best Time To Sell A Home Is 1.51pm On A Wednesday

The best time to sell a home has been revealed as 1.51pm on a sunny Wednesday, according to new research. Further to this, the month of March is also the most common when it comes to selling up.

Even after finding the best time to make the sale, the process can still be a stressful one with the number one cause for concern the dreaded chain; waiting for other people to buy or sell (27 per cent).

The research by Privilege Insurance found that other selling stresses include viewing countless places (18 per cent), dealing with solicitors (15 per cent), battling with estate agents (10 per cent) as well as lengthy contract negotiations (10 per cent).

Although many of us are still relying on estate agents to show buyers around our home (31 per cent), more are taking on the job themselves, with over a quarter of sellers (28 per cent) choosing to show prospective buyers around, and a quarter of millennials (25 per cent) giving the job to their parents to do.

Brits have also been getting cunning with tricks to help sell their homes, with a good tidy up the number one tactic employed by four in ten of us (38 per cent). Men, however, are less inclined to clean up with just three in ten (31 per cent) doing so, compared to 44 per cent of women.

Other selling ploys include buying fresh flowers to brighten up a space (12 per cent), making sure pets are kept outside (nine per cent) and ensuring that noisy children are also kept away (eight per cent).

A sneaky one in ten (eight per cent) of us will cheat a cosy atmosphere by purposefully raising the temperature in their house to make it cosy, whilst two million* of us will even turn to baking bread to help induce a sweet aroma to entice prospective buyers.

We are also taking on home improvements to encourage a sale, with a quarter of us (24 per cent) re-decorating in order to improve our property’s sale potential.

Other changes made to our homes include putting up new curtains (eight per cent), hanging art on the walls (eight per cent), replacing the front door (eight per cent) and even buying new furniture (seven per cent).

Over 1.4 million of us have also bought, or rented, a new television to prompt someone to buy our place. These home improvements are costing us an average of almost £400 to make our property fit for sale.

Men, however, seem to have deeper pockets when it comes to renovations and are spending £457, 150% more than the £290 women will spend to make their property look the part.  Millennials spend the most; a whopping £617 is going on property upgrades to beat the competition.

Christian Mendes, Head of Privilege Home Insurance, said: “Selling a home can be a very stressful ordeal, so it’s great to see we have found the time when people are most likely to sell their home.

“However, it’s important not to under-estimate the impact of small home improvements such as a lick of paint, or a new piece of art on the walls, which can make all the difference when it comes to the finer details.

“On the day people are due over to view, the fine aroma of freshly baked bread, or just-brewed coffee can be the ultimate clinchers to help seal the deal too - so it’s definitely worth going the extra mile.”

Top stresses when selling a property

1.    Waiting for other people in the chain to buy/sell 

2.    People viewing the house

3.    Dealing with solicitors

4.    Dealing with estate agents

5.    Contract negotiations

6.    Settling on the right price

7.    Arranging finances

8.    Viewing other people’s houses

Top tactics employed to help sell a property

1.    Cleaning

2.    Buying flowers

3.    Making sure pets are out

4.    Making sure kids are out

5.    Turning up the heating to make it feel more cosy

6.    Hiding scuffs and marks

7.    Baking bread

8.    Brewing coffee

9.    Paying for cleaners

10.  Opening window to mask bad smells

11.  Put on music

12.  Lighting candles

13.  Paying for gardeners

Home improvements made to help sell a property

1.    Repainting walls

2.    Putting up curtains

3.    Hanging art on the walls

4.    Replacing front door

5.    Buying new furniture

6.    Renting or buying a new television

7.    Re-painting furniture

8.    Having their drive re-done

9.    Garage conversion

ENDS

For more information, please contact: Georgie Bruer at Richmond & Towers:

[email protected] / 020 3179 0720

 

Notes to editors:

Research carried out amongst a nationally representative sample of 2,001 UK adults by Opinium Research from 9th to 12th July 2019.

*Figures based on data taken from ONS 2018 release. Representative of 6 per cent of those surveyed.

Privilege

Privilege Insurance specialises in home insurance for homeowners and landlords. It also offers car insurance and breakdown cover by phone or on-line.

Privilege general insurance policies are underwritten by U K Insurance Limited, Registered office: The Wharf, Neville Street, Leeds LS1 4AZ. Registered in England and Wales No 1179980. U K Insurance Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

Privilege and UK Insurance Limited are both part of Direct Line Insurance Group plc.  

Customers can find out more about Privilege’s products or get a quote by calling

0345 246 0515 or visiting www.privilege.co.uk