How To Time A Home Sale

Selling your home requires adequate preparation to get the best value for your property. Many factors affect a home sale, such as price, the location of your property, how long the house is on the market, and the time of the sale. Thus, it would help if you partner with a reliable real estate agent to advise when to sell your home. If you overprice, buyers may shun seeing the house, which means it will stay on the market for a long time. With that in mind, below are other crucial factors to consider to indicate an appropriate time to sell your home:

The Right Season

Seasons greatly influence the sale of homes. So, it is important to take time to understand the seasonal dynamics. It’s believed that the summer and spring seasons are when most homes sell. To better understand each season’s pros and cons, consider the following:

• Summer and Spring: Sales always increase because most buyers are looking to move quickly in readiness for the beginning of the school year. The warm weather makes showing easier. Although depending on the location of your property, buyers may not get to it because of the hot weather.
• Fall: You may also sell at a higher price because there may be a few sellers in the market. The disadvantage is that your home may stay on the market for a long time. You may have to lower your price to get buyers for your property. The weather might also begin to change, making it difficult to show or repair your property. 
• Winters: You may get buyers who are looking for a house urgently. However, it may take a lot of work to revamp your home if you wish the boost its value. It’s also a holiday season, making it difficult for the buyers or real estate agents to make it to the closings or showing. Your agent’s and buyer’s holiday schedules may be too packed, so they might be unable to cater to your sale. 

The best seasons to sell your property may change. Sometimes, houses may not sell in the spring but do well toward the end of fall. Another example is when the November house market saw a small dip, but there was still a surge in the markets toward the end of the month.  

Sell When It’s Green

Lush green lawns are always an attraction to homebuyers. So, you’d want to list your home for sale when the grass is thriving. You may not attract buyers if you advertise your house in the dry season when all vegetation is dried up. 

Status Of The Market

The market changes periodically from the sellers’ market to the buyers’ market. A seller’s market is when there are numerous buyers, but there’s a shortage of home listings, meaning your prices will increase significantly. On the other hand, with the buyer’s markets, the prices may be because there are numerous properties and few buyers. So, since you’re selling, consider being patient and wait for the seller’s market to find buyers who are willing to spend a fortune on your home. 

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The Best Day Of The Week 

Houses sell week on specific days of the week. Thursday is said to be the best day for home sales. Real estate agents tend to show houses around the end of the week. Thus, when you put your home on the market at such times, you allow the buyers to look at a freshly listed house that can make them more interested. Mondays may not be a good choice because most people are more focused on their jobs after the weekend.

When Mortgage Rates Are Low

When the mortgage rate is low, buyers can easily decide to purchase homes. So as a seller, look for the times when the rates are down to get more buyers looking to buy your house. You can also buy a new home during this period.

After Staying In The House For Two Years

You can save on taxes when selling a home if you’ve lived in it for more than two years out of the five years preceding the sale. You won’t have to pay taxes when you sell at the amount and make a profit of USD$250 000.

When Your Home Is In Good Condition 

Most buyers don’t want to spend a fortune on repairs and renovations when buying a home. Therefore, take your time to look for the damaged areas like kitchen cabinets and renovate them before listing your house. Maintaining the optimal condition of your home will attract more buyers. But if you can’t do repairs and there’s an interested buyer who is willing to buy it immediately, you can negotiate the prices so they can have spare money to do repairs.  

When You’re Psychologically Ready

You can’t sell your home on impulse because you may regret it years later. So, sell your house when you feel the time is right for you. It would be best to consider your current lifestyle, i.e., if you’re changing jobs, raising a family, or going to a much smaller house. Don’t rush into selling your home because of undue outside influence. Sell it whenever you are psychologically ready for a major change. 

Conclusion 

Knowing the right time to sell your home is crucial to help you get the best value for your home. Ideally, sell when the prevailing market prices are high, and your home is in its best condition. It’ll ensure your house doesn’t stay longer than is necessary on the market. To have a better idea of when to sell your home, consider the tips mentioned above.

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Evan Nelson

Evan Nelson is an interior designer who believes that your home should reflect your unique style and personality. He specializes in creating custom spaces that are both beautiful and functional.