Home Improvement

Questions and considerations to make before deciding on the right time to sell

While many home sellers prefer to sell during the warmer months, the spring market isn’t the best time for everyone. If you’re trying to decide whether you should wait until spring or go ahead and sell now, there are several considerations that can help you make your decision.

The main advantage of selling in the spring is that more people want to shop for a home at that time of year. In fact, over 40% of all homes are sold between May and August. That’s twice as many as are sold during the winter months.

The reason is simple: The weather is better, which allows people to look at homes in comfort and see the house and its surroundings at their best. Another benefit is that children who are moving with their parents won’t have to change schools in the middle of the school year.

However, while it may be easier to sell your home in the spring, it also means you’ll be competing against every other seller who wants to sell at that time. That can drive down prices as buyers have more choices and will probably be able to find what they’re looking for elsewhere if they don’t like your price or terms.

In addition to competition from other sellers, you’ll also have competition from new construction homes being built for spring buyers.

It’s a good question and one that is not easy to answer. There are many factors to consider before deciding when the right time for you to sell is. The first thing that people ask themselves is, “What do I want to buy next?” If you don’t know, then it’s probably not the right time to sell as it’s difficult to determine if your home has increased in value enough if you have no idea what your next home will cost or where you will live.

Find more information here on questions and considerations to make before deciding on the right time to sell:

  • How much have property prices risen since the last time I bought/sold?

  • How much my property has taxes raised?

  • Have home values been rising or falling in my area? What will they do in the future? Are they predicted to rise or fall?

  • What state is the economy in now and how will it affect me in the future?

  • Is there a way I can take advantage of current market conditions and reduce my tax bill (e.g., 1031 exchange)?

  • Do I need all of this space anymore, or does my family size dictate another choice for a new home?

  • Is it easier for me to move