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With warm summers, stunning lakes and plenty of lush greenery, Greater Ottawa has everything you could want in a cottage country.
While cottages provide endless opportunities for enjoying the great outdoors and making memories, there may come a time when you want to move on from your “home away from home”. Whether you’re looking to move on or are interested in buying a new property, everyone has their own unique reasons for selling.
From a real estate perspective, selling a cottage is just like selling a house. Finding success in the market requires navigating a lot of variables. One of the most relevant of these variables is timing.
If you’ve thought about selling for some time, you may have wondered – is there a good or bad time to sell my cottage?
Truthfully, cottage real estate is rarely ever that black and white, and each local market will have unique factors that impact buyers and sellers differently. There are some broader seasonal trends that can help you plan a sale that works best for you.
If you’re looking to make the most of your Ottawa cottage sale, here’s what you need to know.
Want to know when the best time to buy a cottage is? Check out our blog post on the topic here.
Just like residential real estate, Ottawa’s cottage markets can also follow seasonal trends. In addition to practical market factors such as property accessibility, seasonal changes can evoke distinct emotional patterns in buyers and sellers, which in turn impact the market.
Selling in Spring
Spring is typically a busy season in the cottage market. As many sellers assume that buyers will be willing to pay top dollar for a property they can use in the approaching summer months, it’s a popular time to list.
While the spring market will have plenty of eager buyers, it can also mean increased competition from other listings. As other sellers rush to the market to capitalize on an influx of buyers, a boost in local inventory could neutralize the advantages of increased buyer demand. Not to mention – selling during peak season could lead to logistical challenges or higher costs surrounding the transaction. For instance, a busier market could make it more difficult (and more costly) to hire movers. Or, if you need to make upgrades to the property before you sell, local contractors may have longer than average wait times.
Thinking about selling your cottage? Check out some of these helpful posts from our blog.
- How to Book a Property Worth Assessment
- How Real Estate Lawyers Facilitate Your Transaction
- What You Need to Know About Home Inspections
Despite being several months away from the next cottage season, selling during the fall can have some significant advantages. While not as busy as the spring, the fall market still typically features a strong volume of buyers. There is often less available inventory compared to the pre-summer market, your cottage has the opportunity to stand out from other listings.
In addition to less competition, selling your cottage during the fall allows you to reach a new wave of motivated buyers. With the summer cottage season coming to an end, fall buyers often have distinct reasons for entering the market. Perhaps they’re a first-time buyer who spent the summer at a friend or family member’s cottage and now want their own. Maybe they’re seasoned owners who’ve spent the past summer realizing they’re looking for something different and are ready to upgrade. By incorporating pre-market preparations and thoughtful marketing techniques, a real estate agent can help you expose your cottage to as many qualified buyers as possible.
Outside of market factors, selling your cottage during the fall also allows you to enjoy one last summer season at the property.
When to Speak to an Agent
Just like selling your home, working with an experienced local real estate agent is the best way to find success when selling your cottage. For the best possible experience, work with an agent specializing in Ottawa’s cottage markets.
From both an emotional and financial perspective, your cottage is a significant investment, and choosing to sell it is a big decision. While the market can have certain seasonal advantages, the best time to sell is always when you’re ready to do so.
Regardless of season, a great real estate agent can ensure you get the best possible price for your cottage while guiding you through the sales process from start to finish.
Want to ensure you get the most out of your cottage sale? Work with local experts who have years of experience selling cottages in Ontario. Send us an email.