Once you’ve decided to take the plunge and sell your house, one of the first questions you’ll have relates to choosing the right time. It would be nice if there was a simple, straightforward answer to this question that applied to every situation. Unfortunately, there are several factors to consider when it comes to choosing the right time to sell your house.
Existing market conditions and sales patterns will have a strong influence on your chances of success. The end goal to any house sale is to not only achieve the highest selling price, but also to ensure that your house sells quickly and efficiently. To this end, it can be useful to compare real estate agents in your area to find a professional who’s competent and knowledgeable about current marketing conditions. You can get this process started by registering at LocalAgentFinder, which allows you to start comparing your various options. Once you have a real estate agent on your side, you can then examine the different factors that are advantageous for selling your house.
Selling by Season
One of the variables to consider when you’re choosing the best time to sell a house is the time of year. Traditionally, the spring is considered to be the best time for selling a home. With warm weather, an abundance of sunlight, and a feeling of renewal in the air, buyers are more willing to start fresh and make a purchase. The sunshine will get you motivated to renew your garden and landscaping, improving the outward appearance of your home. Buyers feel more confident about their chances of moving during mild weather, without having to worry about moving in the freezing cold or burning heat of summer. November is a particularly good month for property sales, because this allows parents to wait until the school term has ended before they purchase a new home. Many parents won’t want to interrupt their child’s education with a move.
These are all just a few reasons why spring is generally seen as the most popular time for putting a home on the market. However, everyone else will be doing the same thing. A flood of competition arises each spring, giving buyers a wider selection and less competition between offers. As a result, you may end up settling for a lower price than you would be able to achieve during a different time period of moderate supply.
Winter can give sellers an advantage, using this logic. Although traditionally selling in winter has been discouraged due to the gloomy atmosphere and cold weather, there will be always be buyers in need of property. Whenever there are buyers available, the few properties that are available during the winter will end up looking all the better for their scarcity. You can improve the chances of selling your home during these periods of high demand by sprucing up your property before putting it on the market. It’s a good idea to consult with a local real estate agent to find out what your options are and what could add value to your home. You can find an agent who is knowledgeable about these matters by comparing your options using the free dashboard at LocalAgentFinder. This lack of competition could be used to your benefit in the end, giving you a higher net sale price.
Watching Market Trends
In addition to simply looking at the best time of year to sell your property, you’ll also need to take existing market conditions into account. The best time to sell your house will depend on the type of property that you currently own. If you have an investment property to sell, you’ll want to put it on the market when the market is strong.
However, for those who are selling their place of residence, the best time may vary. If you’re selling your primary home, you’ll be in the process of upgrading or downsizing. For example, if you’re moving into a better neighbourhood or in need of more space for a growing family, you’re in the process of upgrading. On the other hand, if your children have recently moved out and you are looking for a smaller property to save money, you will be downsizing.
Those who are upgrading will want to sell their homes when the market is down. It’s important to look at this from a buyer perspective as well as from a sales perspective. Although you may get less money for your home during a time when the market is down, you will be available to snap up great bargains in a prospective new home. For those who are downsizing, it’s not as important to purchase a large new home at a good price. Instead, you’ll want to sell when the market is strong and gain the maximum sale price on your property.
Keeping a close eye on the market is important. If you have discussed it with your real estate agent and the market looks like it is about to peak, it may be a good idea to sell your house at a high price and then find a rental property until the market goes back down. Keep the cost of moving in mind, however. Moving more than once will add up. Rental properties usually also require a 6 or 12-month lease, so getting the timing right to purchase property at a reduced price can be somewhat tricky.
The Bottom Line
Ultimately, to get the best price on your house you’ll want to watch market trends and analyse the economy with the help of a qualified expert. You must also be willing and able to differentiate between investment factors and lifestyle factors, all of which could affect the outcome of your property sale. The right time to sell will depend on your unique situation, as well as the economy.
You can start the process of consulting with a professional real estate agent regarding these matters by registering your details on LocalAgentFinder. This comparison tool has been helping connect property owners and real estate agents since 2007. Increase your chances of receiving sound advice to maximise your profit and start comparing now.