25 Mar When is a Good Time to Sell Your House?
Selling a house is a big decision, and there will be many factors in your decision to put your house on the market. Some people are just ready for a bigger home to accommodate a growing family, while others must well as quickly as possible in order to purchase a new home due to a transfer or change of career. In the first case, you could afford to wait the market out a little longer, while in the second you may find you do not have the luxury of time that might allow you to hold out for the maximum price. In either case, there are factors that will determine the ideal time for selling your house. Here are some of the best times to sell a house in order to make a good profit and to sell quickly. Some of them are beyond the control of the buyer, but just a few in combination should help to add that extra push to your sale.
As touched on above, time is the most valuable ally you have in an attempt to sell your home. We also mentioned that in some cases, you may not have the time you need to ensure a great sale price. Most of the factors that we will list below are matters of time, and even in pressing situations you should be able to squeeze out a little bit more time to get your house up on the market at a good price. Remember that every day is critical, so planning ahead could mean a great sales price. Some suggestions for stalling the sale of your house until the ideal point in time:
Most moves don’t come as real surprises to the people involved. Many of us will have at least a little bit of warning if a major life decision is going to take place. Start thinking about the sale of your home, including looking into possible agents, as soon as you hear any rumors of promotion or transfer. You don’t have to sign any papers, but doing the groundwork ahead of time (including deciding on an asking price) will save a lot of time should the event transpire.
In the event of a transfer, ask your employer if you can move later in the year. Don’t ask to wait until your house is sold; that aspect is really up to you. The key is to not have to sell your house until the timing is right; in other words, at a time of year when the market is hotter. If you are really on your game, you may even be able to buy a home in your new location during a slow time of year and sell your own house in a good market.
The Time of Year
Time of year is critical to home sellers. One of the most important rules on getting the best price for your property is to have it looking its best when potential buyers come to look. The season has a lot to do with this; almost without exception, houses are at their peak appearance in the summer, when the landscaping shows the exterior to its full effect. Early fall is also a great time to sell a house.
Winter is a bad time to put a house on the market. Not only will your house not look its best, but there are not as many people looking during this season. In addition, people trampling through in boots out of the wet conditions means the house will be a lot harder to keep clean.
Likewise, spring is not a great time to put a house on the market, at least until later. Let the streets clear of slush, and let people have time to shake off the winter cobwebs. People are much more likely to be in a spending mood once the sun starts shining.
The Seller’s Market
Every once in a while, conditions come together perfectly for home sellers, and houses are selling before they even really hit the multiple listing systems. This is called a seller’s market, and usually it occurs when interest rates are low. 2005 represented a perfect storm as far as real estate; salaries and optimism were up, interest rates were low, and there were an unprecedented amount of people seeking a house.
Not all seller’s markets are as hot as 2005, but seller’s markets are nevertheless the ideal time to sell. The problem is that they largely come about as a result of economic conditions; if you happen to be trying to sell in a low point of the cycle, you really won’t have time to wait for the economy to pick back up.
When is a good time to sell your house, of course, is when you will get the most value for the property. Several factors contribute to this, including the appearance of your home and the mood of potential buyers based on both season and economic climate. Always remember that time is the most important factor in achieving maximum value for your property, so try to give yourself as much lead time as possible.