Times are changing and you’re thinking about moving the family into a new home. But before you start searching for your next dream home, you’ll need to figure out when you’re going to sell your existing home. The decision is a complex one, especially considering the unpredictable economic environment you’re living in. And while there’s no magic formula for determining the best time to sell a home, there are several factors you should consider.
The wrong time to sell
In today’s market there really isn’t a wrong time to sell, but if you are still living in your home, the holidays can get hectic for keeping the house “Show Ready”. Tensions run high during the holidays and budgets run low. The result? Buyers are fewer, and offers that do come in are sometimes low. So as a general rule of thumb, avoid the months of December and January when selling a home, unless it’s already on the market or vacant. On the plus side, inventory is low in the winter months and those folks out looking for property will be glad to find a house willing to accommodate a showing. If you are planning a special family party or guests, tell your agent to take the home off the market for a couple of days until it’s “Show Ready”. If your home is vacant, be sure that it stays impeccably clean and fresh, free from odors and dust, and welcome all showings from your agent. Do I recommend moving out? Of course not, but do keep an eye on clutter. Overwhelming the house with lots of holiday décor can seem homey to you and your family, but can be a bit of a distraction to potential buyers, so keep it modest during the holidays, at least while your home is up on the market.
The best season for selling
Conventional wisdom dictates that spring is the best time to sell a home. In spring, the holidays have past, the new school year is still a while away, and gardens and other outdoor spaces tend to look their best. And while spring is the season that sees the largest amount of buyers, it’s also the season when inventories are highest. This means lots of competition, so if you’re going to sell in spring, you really need to get your property to stand out with effective marketing and staging.
The best day for selling
According to research, Thursday is the best day of the week to list your home for sale. By listing your home for sale on a Thursday, you can make it available immediately for weekend showings. Come Saturday – the busiest day for real estate – your home will have only been on sale for two days, which is great for attracting full-price offers. In general, the shorter amount of time your home remains on the market, the higher the offer you’ll receive.