When is the best time to sell a house? If you said late spring and early summer, then you've been listening to all the right real estate TV shows...or have you? Although spring and summer are the traditional home selling months, there are several good reasons to consider selling your home in the winter. Let's look at a few.
Your Buyer Doesn't Care About the School Calendar
Many people suggest that homes sell better in the spring and summer so that parents can move before the start of a new school year. However, not all home buyers have children and not all home buyers with children care about the school calendar.
Your buyer won't care about the school calendar if they are:
- Retired
- Newly married / first-time buyers without children or with very young children
- Families that don't follow the traditional school calendar such as year round school or homeschool
Your Home Is Worth More Than Neighboring Homes
For homes that are valued more than 20% of surrounding homes, selling when everyone else is selling is not a good strategy. During this time, there will be many homes on the market. Buyers will automatically shift toward homes that are lower in price, leaving your higher-value home on the market with few lookers. Plus, people with higher incomes often go on vacation during the summer months.
Selling in the winter means that your home will have far less competition. Those looking to buy will be more likely to see it as a real option.
You are Selling a Condo or Townhouse
Those buying a condo or townhouse are often looking for amenities that have nothing to do with the seasons. For instance, they are looking for things like:
- Good transportation
- Walkability
- Restaurants
- Night life
Typically, those looking for these kinds of amenities look for homes throughout the year, rather than just in the spring.
You Are Looking for A Serious Buyer
Springtime is known for selling homes. This brings out people to look that aren't even considering buying a home. On the other hand, someone looking at your home during November is someone that is actually looking to find a home.
Keep in mind that jobs can change any time of the year. When this happens, a buyer will be looking – no matter what the season.
You Want Less Competition
During the winter, there are fewer sellers, mostly because they believe that the best time to sell a home is during the spring and summer. Because there are fewer homes on the market, a buyer interested in your home is not as likely to have a multitude of other homes on the short list. This will make it more likely for your home to be “the” home.
You Want To Save Money
If you need to make some home repairs or improvements before selling, then winter is the perfect time to do it. Contractors are less busy and can get to you faster. In fact, many will also work more cheaply during the winter months.
Additionally, moving into your new home after the sale will be cheaper. You'll find that moving company's charge less during the winter months.
Although spring and summer are traditionally known as the best months to sell a home, that is not always the case. Understanding what your buyer is seeking will help you sell your home no matter what the season.
