It is important to know the best and worst times to sell your home. When you go to sell your home you are going to want to sell it for the highest possible price, so knowing everything you can, to give yourself an advantage when selling is a smart thing to do.
For many, their house could well be their most valuable possession. As a result, the sale price they achieved for the house will likely significantly impact their financial and future housing prospects. Knowing the best time of year to put your house on the market can increase the number of people that come to look at your home and result in a higher contract price.
Choosing The Best Time of Year To Sell A House
One of the best times to try and sell a house is late spring to early summertime. A few factors make it favorable to market your house in the springtime. First, after the winter, people are usually emerging from their winter slumber and are more likely to be considering a change in their surroundings.
Second of all, houses come across to potential buyers much better in the springtime. Think about it. In the springtime, you can do landscape design, plant flowers, and paint your house with a fresh coat of paint. The skies are brighter as well as free from the dark grey shades of cold weather. You can open your home windows and welcome visitors right into your home.
On top of that, at this time of year, people have had a windfall on their tax affairs which enables them to have a lot more money to spend. They can make use of that money for deposits or improve their credit score, allowing them to qualify for a mortgage.
Spring is also a good time of the year to buy a house for families with young children enrolled in school. Most purchases that take place during the late spring will not settle and finalize until early summer. This would work out to be a natural time for the young people to stop at their current school and potentially enroll in a new school closer to their new home. This is preferable to having to leave school and their friends midway through a study period.
Lastly, Spring and Summer bring longer days with more daylight in which to go and inspect properties which brings more people to inspect your home and hopefully, more people to inspect and make an offer to purchase it.
The Best Month For Selling A House
If you wish to get a top sale price on your house, the most effective months to open your house are May and June.
At this time of year, demand is at its highest and as a result, it is easiest to sell a property. These are peak months because of the warmer weather, and also it’s less complicated for households to relocate school-aged children, as we previously discussed.
If you want to get a head start preparing your residence offer for sale, you can obtain a pre-inspection. This is when you pay for your own assessor to come into your house and locate any type of potential problems that might frighten purchasers.
A pre-inspection can help you identify and fix problems both large and also small, and they’re also valuable to show a possible buyer since they can see all current repairs and enhancements you’ve made to your home. A house that has been recently upgraded can be sold very quickly during these peak months, particularly when mortgage prices have been as affordable as they have been lately.
The Worst Month To Sell A House
The worst month to sell a home is December, quickly followed by January and February. At this time of year, most potential purchasers have vacation plans or are visiting family, thus not looking for a house.
The cold weather also makes it expensive and cumbersome for individuals to tour many houses. In addition, in the cold weather, you have to take many extra precautions to invite potential purchasers to tour your home. If you live in an icy location, you have to keep your sidewalks clear of snow and ice to avoid injuries and potential lawsuits.
When in mortgage stress and struggling to meet your repayments, you could risk foreclosure of your loan. That is why, if you are planning to sell your house, you want the top dollar for your house to satisfy your financial obligations, you should avoid selling in winter at all costs. This useful foreclosure article outlines the risks and options available to you if you are at risk of foreclosure.
Conclusion
Due to the combined influence of people emerging from their winter slumber, enjoying the warm weather, and looking for a change in between school terms, the spring to summer period is the peak time to try and sell a home.
Winter should be avoided where possible because people are often on holiday, and not thinking about buying a new house, and it’s also a lot harder to facilitate the various inspections, and show your house in its best light.
