Selling a house tends to be complicated if you don’t have the precise information. Besides, if you want to sell a house, you need to know when’s the right time to do so. Luckily, in today’s post we’re going to talk to you about when to sell your property, so make sure you read from start to finish to get all the details.
When do homes sell quicker?
Spring is the best time to sell your house. However, you need to know more about why spring is the exact time to sell your property. Here are the pros and cons of choosing spring to offer your property:
- You could sell your house for more money: Usually, if you sell your house during spring, you could end up obtaining more money for it. For example, The Mortgage Reports states that most North Americans who sell their properties during May can expect to sell it 17 days faster than any other month, and they could also obtain 5.9% percent more money.
- More buyers: Once winter is over, expect to see an influx of buyers near your area. Plenty of homebuyers, particularly families, start their homebuying research during spring months. This is because there are more homes available to purchase. Also, during these months is a lot easier to move with school-age children, and the weather is nicer.
- Curb appeal is at its highest: Selling a house during the spring is one of the most effective ways to capture the attention of buyers while also maximizing your selling price due to making your house attractive to buyers.
- The weather makes it easy to move: Compared to moving during winter, when the spring approaches you won’t have to battle snow and cold. Furthermore, you won’t have to worry about overheating. Springtime temperatures are warm enough to let you have an easier moving process.
- Moving company prices are higher: More people moving will mean more demand for movers, therefore higher prices for consumers. Since both spring and summer are the most popular times to organize a moving, don’t be surprised when you see the prices. Keep in mind that if you sell a house when spring arrives, it could also be harder to select a moving date.
- More competition: It’s extremely common to see more “for sale” signs popping up around the neighborhood around spring. Given that these months are the busiest when it comes to selling and buying properties, you may end up with a saturated market.
- You won’t be capable to find many realtors: Since there’s going to be more competition, it’s likely that real-estate agents will have other listings to keep them busy. This means that your property might not be the center of the attention.
- School could get in the way: If you have kids and you want to move, it’s not going to be a piece of cake. Nonetheless, if you were to move after the school year finishes, you would have an easier moving process. But if you do it during school activities, it will be a challenge. Not only can this affect your child’s learning, but it could also mean changing them to a different school during the school year.
Worst time to sell a house
Just like spring is the best time to sell a house, there are terrible times to sell a house. These can be days where many properties are being listed, meaning you will have to compete with a lot of sellers to get a good sale price.
In addition, they can also be times where buyers are not too invested in looking for properties. In some areas, this can be the holiday season, when people are busier with family gatherings.
For instance, Huerkamp shares that the real-estate market activity in the Twin Cities tends to slow down in winter due to the extreme cold. In fact, November came with a 12% decrease in cost of sales in Minneapolis.
Nationally, February is the worst month of the year to sell in terms of sale cost, while January is the worst month to sell a house in terms of speed.
How to sell your house during spring
If you want to sell a house the right way, you’ll need some help. Fortunately, you can work with a real-estate agent who knows the area, and they will help you implement a timing strategy that will meet your specific needs.
An agent can also assist you in comprehending the quirks of your neighborhood, city or county, so that you can achieve your goals, no matter if you want to sell rapidly or maximize the price.
On top of that, agents can also help sellers understand what goes into getting a house ready for sale, so they’re prepared to enter the market at the proper time with their properties.
But before a real-estate agent helps you make the decision of when to sell, you have to decide when to call your real-estate agent. Most of these professionals have the same response: “As soon as possible.” The more time they work alongside you, the more time they’ll have to get your house ready.
Here’s what your agent is going to suggest you:
Plan your target sale date
Knowing how much time you have to prepare your home to list is beyond important. This can inform about the rest of the time you have, whether that includes the moving process as well as purchasing another house.
At this point, you’ll have enough time between listing your home, receiving offers and accepting the best offer. To find out how quickly you can sell your house, ask your real-estate agent about your area’s average days after being listed.
This data measures how long properties remain on the market before going under contract, and this can change year-to-year as well as monthly.
The average days that your house remains on the market, will also help you determine is the listing price was the right one or not.
Update your home before listing it
Before listing your home, you should leave some time in your sale timeline to check if your house needs updates. However, you don’t have to pay attention to the tiniest details.
According to Huerkamp, “The only preparation you should make is to make sure your personal items are nowhere to be seen.” Furthermore, Huerkamp shares that people can picture themselves living in your property without worrying too much about small repairs.
Nevertheless, this doesn’t mean that you can sell a house with visible issues. You have to include a fresh coat of paint as well as fixing glaring errors. Consider that contractors won’t have time in the spring, so you’ll have to do everything you can to offer a suitable home for them.
List of common repairs
Your realtor can help you choose which repairs need to be done before listing your home. Some problems in your house can be detected during inspections, and they will definitely have an impact on your sale.
The list of most common repairs include:
- Foundation repairs.
- Electrical repairs.
- Plumbing repairs.
- Roof repairs.
First, filling a crack in your foundation can cost around $800 to $1,500. On the other side, if you want to replace an HVAC system, expect an average cost of $7,000 and this could take a week to a month to be finished, depending on the type of system you use.
While many buyers could overlook neccesary repairs, you should still repair those issues so that your house becomes more popular.
Uptades that sellers have to keep in mind
Among the most common updates that home sellers have to consider are a fresh coat of paint, cleaning all the carpets around the house and a deep clean of the whole property.
Painting your house’s interior can cost around $1,890. But you could save some money by painting specific rooms, or by doing it without help. In case you want to aim for more significant updates, then you can consider replacing old fixtures in the kitchen like appliances, countertops and even flooring.
Final aspects to consider if you want to sell a house
Ultimately, the exact timing of your sale has to meet yout individual circumstances. For example, in case you need to move due to a job relocation or a new military placement, you won’t have control over the timeline.
Even if you’re dealing with a lot of things such as your kids starting at a new school or moving to a different city, you don’t have to sell your house by yourself. An experienced real-estate agent can help you get the best out of your sale, even if you have limited time to do so.
There are excellent real-estate agents out there. You can always search for an agent online or ask a friend.
Thankfully, with the tips we prepared for you in this entry, you’ll be capable to sell a house the right way. Even if it takes longer than you expected, doing the process right will have better results, and you’ll obtain more money.