When is the best time to sell your house? Timing can make a big difference in terms of selling your home quickly and for the most cash. But here’s the thing: The rules on pinpointing that best time might not be what you think.
The assumption that spring is always the best time to sell is not necessarily true. The general direction of your local economy and mortgage interest rates come into play as well. There’s no crystal ball for reading the housing market, but there are ways to stack the deck in your favor. Here are five things to consider before putting your house on the market, according to https://www.jokaroom.net/en/online-pokies/.
- Spring isn’t always the best season to sell your house
Though conventional wisdom maintains that the spring home-buying season (April to June) is the best time to sell, that’s not always the case. In fact, one recent study even found that sellers typically net more above asking price during the months of December, January, February, and March than they do from June through November. Surprised?
One reason may be that the spring home-buying season generally means you’ll have more competition from other home sellers—and that may require you to price your home more aggressively in order to attract buyers. Just as how us casinos online attract players across the globe.
- Keep an eye on the local economy
The strength of the U.S. housing market as a whole certainly plays a role in home prices. According to a realtor.com analysis of annual price growth rates, a home’s value generally increases 3% to 4% a year when the economy is strong, driven by inflation and natural population growth. From 2011 to 2016, the national housing market was recovering from the bubble at a slightly higher speed: 6.3% a year, on average.
- Mortgage rates matter, too
Generally, more people buy homes when mortgage rates drop, historic data shows. As a result, prospective sellers should be monitoring the mortgage market, says Jack Guttentag, author of “The Mortgage Encyclopedia.”
- Wait until your home’s in good shape
To fetch top dollar for your home, the property must show well. This may require you to take time to make repairs to your house. Keeping up with your neighbours is also important. If all the houses on your block are beautifully furnished and landscaped, then it’s likely worth it to spend the extra cash—and the time—priming your own home for sale.
- Your personal preparedness is a priority, too
Yet no amount of timing should eclipse what time is right for you—personally, professionally, and otherwise. Are you ready to move on, or up into bigger digs? Though most experts advise you to live in your home for at least ten years, there are circumstances where it just makes sense to sell. Many homeowners sell when they change jobs or when their children switch schools, or when the kids fly the coop and the parents are ready to downsize. So, take stock of your own situation when deciding whether to put your house on the market now or wait.