When is the Best Time to Sell Your House? (VIDEO)
Figuring out the best time to sell your house can be tricky. There are so many factors to consider like the condition of your house. The current market, mortgage rates, and how ready you or your family is to move. Overall, spring into early summer is the best time to sell your home, but that’s not all there is to it. The competition will be higher during these months so you’ll really have to outshine comparable homes if you want yours to sell fast for the best price. Consider these tips when deciding on the best time to sell your house.
Pick the Right Time of Year to Sell
The time of year with the mildest temperatures and weather will be the best time to sell your house. It’s just a fact that it’s when people like to move! They don’t have to worry about snow getting in the way. Too-cold or too-hot temperatures hindering their moving performance, or springtime showers dampening their belongings.
Spring and summertime are also opportune times to sell your house because families are usually looking to move in and settle well before the school year. Right, when the previous year ends is when they’ll be looking to get into a new home with their family.
Fall and winter are typically poor times to sell your home because the weather is less predictable. Also, this is the time of year when school starts, and families don’t usually like to uproot right after the year has started for their students. Depending on where you live, the best time of year may be different for you. If you live in an area where temperatures and weather are moderate most of the time. Then you’ll have to keep an eye on the market year-round as every season is good for selling your house.
Assess the Competition
Although late spring into early summer might be the best time to sell your house, you need to consider the fact that the competition might be steep. It wouldn’t be a bad idea to get your house totally ready to sell by December-January and then put your house on the market right away. This way, you’ll get a leg up in the competition and have more eyeballs on your house sooner than the rest.
You’ll also want to take a look at your neighborhood and houses for sale that are comparable to yours. There are two kinds of markets when it comes to this part of selling your house: a seller’s market and a buyer’s market.
- Seller’s market: This is the market you want to be in when looking to sell your house. A seller’s market is one where there are more buyers looking for homes in your area than there are houses on the market. It’s not a bad idea to keep an eye on local housing listings to assess how many homes are on the market in your area.
- Buyer’s market: A buyer’s market is just the opposite of a seller’s market. This is one where there are more homes listed in your area than people looking to buy. If you notice there are lots of homes for sale in your neighborhood, you might want to wait another six months to a year to sell your house.
Keep an Eye on Current Mortgage Rates
Mortgage rates change just as quickly as the seasons. Work closely with your real estate agent and bank to figure out when mortgage rates will be the lowest. This will be a huge factor in deciding when the best time to sell your house is.
Buyers will be shopping around not only for the best deal in a home. Also, for the area with the best mortgage rates. If you have a good team at your disposal, you’ll be able to find the best time to put your house on the market without it sitting there for too long.
Assess Your Home to Sell
Just because you’re ready to sell doesn’t mean your house is. The most important things to fix before you sell your house are:
- Paint: a good paint job can really do wonders for your home. Buyers like light; neutral colors that make the home feel airy. Removing wallpaper is also a good idea. Wallpaper makes a home feel and looks outdated. Wallpaper isn’t something that buyers can envision a home without. They’ll see that as another task that they have to worry about upon moving in. If you take care of it for them before they even know it’s there, you’re golden.
- Furnishings: It’s always a great idea to stage your home. If your personal furniture will be in the home, consider renting some new and updated furniture that is more appealing to buyers. If you have already completely moved out of your home, staging will give potential buyers inspiration and a better idea of what their own belongings will look like in the house.
- Exterior: Curb appeal is huge when selling your house. It might be worth it to hire a landscaper right before your showing to give the outside of your house the extra oomph it might need. Assess the condition of the roof and the exterior of the house itself. It might need to be pressure-washed before your house goes on the market.
- Bathroom: Fixing any leaks, broken tiles, or broken fixtures in the bathroom is huge when selling your house. A change in a light fixture or toilet seat makes a bigger difference than you might think.
- Kitchen: The selling point for many buyers is, in fact, the kitchen. If your kitchen is way outdated, they might look at the home as too much of a “project.” Just update the lighting fixtures, faucet, and sink and get a quote on updating your countertops. Granite or marble is not a requirement to make your kitchen look brand-new.