If you feel you’re ready for a new start and are looking to move away elsewhere, the first step is to think about putting your current home on the market. While it may seem that the best time to do this is as soon as possible, that certainly isn’t always the case. There’s a lot more to it if you’re looking to make as much resale value as possible and achieve a quick sale!
So, when is the best time to sell? Here are just a few things to consider when looking to sell your home in preparation for moving.
Don’t Do It Before Christmas
Putting your home on the market as we head into the festive period is a sure-fire way to ensure you receive very little interest in your property.
The holidays are perhaps the most universally expensive time of year for families everywhere, so putting your home up on the market at this time is more than likely going to lead to a lack of any interest from potential buyers. Those who are looking to buy a house will more than likely be leaving it until the start of the next year, with far too many other tasks and costs to consider before the end of the current year.
You’d be best to follow this advice yourself, too – there’s not a lot of point to listing your house until mid-January at the earliest.
Take Care Of Home Improvements First
Before you put your house on the market, ensure you’ve carried out any necessary home improvements that may otherwise put people off. If there are any glaring issues within your home that could be picked up on by potential buyers, you’ll struggle to find anyone willing to take them on – and even if you do, you’ll make far less on the resale value of your home.
It’s best to have every issue fixed within your home before you put it on the market. While having good quality, working plumbing won’t exactly add money to your asking price, broken plumbing will send your resale value through the floor.
Don’t forget to also take on any further home improvements that you think could increase your resale value – repaint your living room, refresh your garden, fix your shower. Every improvement you make to your home before you sell will go some way towards increasing its resale value once you find a buyer.
Keep A Close Eye On The Housing Market
Keeping an eye on trends and changes within the housing market in your area is a good way to determine whether or not it’s a particularly good time to sell. For example, if the homes in your area are selling for much higher prices at a particular time, it may be a good time to capitalize on this and put your own home on the market, too. However, a market rush such as this could mean that there is a little more competition within the housing market too.
Keeping your ear to the ground and routinely checking what the housing market situation is in your area will leave you better informed and feeling more confident about the time when you do eventually decide to put your home up for sale.
What Do The Statistics Say?
All of the above advice is worth following in order to ensure you’re selling your home at the best possible time. However, what about the statistics? What time of year, statistically, is the best time to sell your house?
The best month to sell your home, according to data gathered from the sale of other homes, is May. Data showed that homes sold within the first two weeks of May sold an average of 18.5 days faster than other times of the year – and they also made an average of 5.9% more on resale. If you’ve wondered how to sell my house fast in Philadelphia, contact us for more details.
It’s not known why exactly this is the case, but there are a few reasons that could be behind it. For example, buyers with school-age children will be looking to move into a home over the summer, so that their school-age children are settled by the time the semester begins. It’s also thought that the fact tax refunds tend to come in during the late winter/early spring means that some people have more money to spend, making them more likely to make a purchase.
These are just assumptions made based on the statistics, which are not the same everywhere and may be coincidental, but it certainly makes a springtime sale appear like a more promising option.