Many of us buy our houses, thinking we will live there forever. But sometimes our situations change, and when they do, we face the potentially tricky task of selling our house and moving elsewhere. If you are looking to sell your house, you might be wondering when is the best time of the year to do so. And several factors go into that equation.
Firstly, you have your own family’s needs to consider. You might want to time your move to coincide with the end of the school year, for which selling in the summer or spring makes sense. You must also take the local real-estate market into account and aim to list your property at a time that is likely to give you the most suitable sale price and appeal to a large number of prospective customers. For instance, if the number of houses sold in your neighborhood has historically peaked in April, then that is probably a good month to aim for.
Certainly, the art appears in when you work with a quite experienced real estate agent, who has a strong local market experience and knowledge and understands the market sale and purchase flow. And the science part is when you trace down the previous data, on which you make your choice. The following article will highlight the best time to sell your house.
Consider Property Condition and Price
Bear in mind, if you have decided to sell your house as quickly as possible, it must be priced precisely and must be in the best possible condition the day it goes in the market. If you are about to put your house up in the market in six months, three months, or even in a month, you should start working on your house from now. You would have to compete with other property agents in the market and win customers. Though, buyers expect to see a sparkling clean house, which gives them the feel of a move-in ready house. Make your house as clean as possible, make it clutter-free, and decorate it as much as possible.
This is about the condition of your house. When it comes to pricing, a professional dealer can give you a clear idea. They can examine the competing market. Moreover, based on the recent houses that are recently sold in your area and that match your listing. Bear in mind that if you overprice your house, it will take longer to get buyers for it, and ultimately, you will have to reduce the price, and customers will see it as if it has been on the market for a while.
Seasonal Affect
You might not relate to it, but specialists are of the view that seasons affect the real estate market. For example, in winter, when the year moves towards the end, people stop investing and wait for New Year to start. Thus, the summer season also slows down the activity as people do not just wait for the blazing heat to end, but they wait for the release of the annual budget as well. In the same year, the activity somewhat slows down in the holy month of Ramadan.
Though this does not mean that you should sell only in spring, you should keep in mind that some buyers are looking for houses during the above-mentioned time of the year, It is also true that you will encounter less competition.
Despite when you put your house on the market, you must always have backup plans with you, just in case the property lingers on the market.
Selling House Privately
There is no rule stating you must hire a real estate dealer to sell your house, so if you are willing to put in the legwork, you can save yourself a considerable amount of money by avoiding that commission. To sell on your own, you will need a way of letting people know your house is on the market, and the most reliable way to do so is to list your house on the MLS (Multiple Listing Service). The multiple listing service is a national database that lets potential clients search for houses based on criteria such as geographic location. You do not need to be a real estate dealer to get on the MLS, though. Several low-fee services allow owners to list their properties themselves.
But selling a house without an agent is not for the faint-hearted. Selling a house is some sort of a full-time job, so if you have a separate full-time job to go to, that might not work. Besides, when you sell your house solo, you risk pricing it too expensive or pricing it too low and turning potential buyers off.
Finally, when you sell your house on your own, it will be on you to determine what steps need to be taken to promote that transaction. For instance, you will probably need a certificate of occupancy before you sell, which is just one of the various hidden costs you might encounter. A real estate dealer can walk you through these requirements, thereby eliminating stress and guesswork, but if you do not hire one, you will need to sink even more time into the process.