As a homeowner that wants to sell, you might be wondering when to sell your house. Deciding to put your property up for sale isn’t inconsequential. It isn’t like ‘what should be for dinner this night?’ or utilizing some strategy to solve logos with your children. It’s calculated, methodical, high stakes. Ask (and get answers to), the following questions before you hammer the ‘for sale’ post onto your front lawn.
- Is it a sellers’ or buyers’ market?
A sellers’ market is when more individuals are looking to purchase properties than the properties that are actually available. Houses then sell quickly and frequently quite close to the asking price. Conversely, a buyers’ market is when there are lots of properties on the market; actually, there are much more properties available than there are buyers that will buy them. They then sit on the market for much longer and might go for much lower than the asking price.
- Do you have varying space need?
Whether your teenage kids have left for college and it is making you settle in the large and silent house as empty nesters or your family is expanding and you require a couple of more bedrooms, a change in lifestyle could steer your thought towards moving.
- Can you actually afford the move?
If only moving happened to be as easy and convenient as going to bed in the old house and waking up in the new one. Even after selling a house without an agent, the costs of moving still add up. Ensure that you have first taken the following features into consideration (and crunched the numbers);
- Security deposit.
- Utilities.
- Debt and equity.
- Adjustments in the cost of living.
- Physical moving.
- Costs of closing.
If you’ve not planned for any of these yet, develop a plan before taking too many steps forward fast and falling flat on your face.
- What is your timeline?
If your children just gave you grandchildren, you could be hurrying to sell to move in their direction. Or if you’ve just retired, spent the immediate past six months travelling and you now need a more permanent space than the hotel you are presently set up in, you could be in some hurry. Remember, a strict timeline provides the buyer with negotiating power. The more flexible you are able to be the more selective you are able to be with your offers.
- Is it an ideal time to move?
Some market research has shown March and April as the most ideal months in the northern hemisphere to list properties for sale – at least in the majority of places. Sunshine and temperature are critical elements when selling your property. Also, think about the roughness of physically moving during very hot or very cold weather. You could get heat stroke, slip on ice, or even ruin your properties as card boxes can’t hold up to some seasons.
These are the 5 questions you should ask yourself to work out when to sell your house. The answers to the questions should certainly give you an idea of when you should actually do it.
