Do I wait until spring to put my house on the market?

The simple answer to this question is NO! Here is why…

Most people think that spring is the best time to put your house on the market, simply because the snow is gone (hopefully) and your house will show better. Families often like to wait until spring to list their homes so they can plan to move once school is out, and be settled in their new home once school begins. This can be even more important if a child is required to change schools.

While all of this makes sense, let’s look at the bigger picture…

Most of the time inventory is at it’s lowest around the holidays and the beginning of the year. Therefore, by listing your house in January you will have less competition, and often times see a higher sale price. While this may not always be the most convenient option, financially it’s probably your best bet. In some rare cases you may be able to ask for extended occupancy of your home, but I wouldn’t bet on that. Your best option would be to make arrangements ahead of time so you have contingency plans in place, should your house sell before you have located a new one.

Here are the risks you take by waiting until spring to list your home…

  1. More competition.
  2. More days on the market.
  3. Lower sale price.
  4. Possibly losing the new house you wanted.

Every situation is different…

While this strategy of listing your home now may work for some, it doesn’t work for everyone. In order for you to get top dollar for your home, the same old rules apply. As a reminder, here is a list…

  1. LOCATION, LOCATION, LOCATION! If your home is not in a desirable area, it doesn’t matter when you put your house on the market, it may still be a struggle to sell. This means that every other aspect of your home will need to be perfect.
  2. CLEAN! Make sure your home is spotlessly clean, and any necessary repairs are made ahead of time. Think about it, you don’t go into a store and buy damaged product without getting a discount. When Buyers see a dirty house, or repairs that are needed, they automatically discount your asking price.
  3. PRICE IT RIGHT! Everyone thinks their home is worth more than it is. But at the end of the day a house is only worth what a Buyer is willing to pay. So make sure you price your home realistically based on the comparable properties out there. If your asking price is above where the comparable sales are, why would anyone bother looking at your home? Odds are you wouldn’t either if the situation were reversed.

At the end of the day, if you are still unsure of what to do, give me a call. I’m always happy to meet with you and together we can determine what the best plan is to sell your home. In most cases a home is our biggest financial instrument, so it needs to be protected.

Happy New Year!

~ Keith