Although the purpose of your home is, and should always be as your residence, increasingly home owners have also come to view their home as a substantial investment. Although this might sound cold and calculating, the fact remains that your home is also your biggest expenditure, so it only makes sense that when the time comes to sell you want to maximize that potential.
Everyone is well aware of the usual stories about getting your home ready for a sale. It makes perfect sense to ensure that all decorating and repairs have been completed correctly, that the yard is well maintained, and of course that there is a smell of freshly brewed coffee to greet your potential purchasers upon their arrival. But what a lot of people are unaware of, is that the time of year you put your home on the market can affect how quickly it sells.
Obviously, there are certain distinct times throughout the year when the property market slows down a little bit. Just before Christmas, for instance, tends to be a very slow period for real estate, as people enjoy the festivities and spend every last penny on presents and traveling to see friends and family. But research shows that there are also certain times of the year when demand for properties peak, thereby increasing the price you might receive for your home, and the speed with which you manage to sell it.
The optimum time to place your home on the market would appear to be late March. There are various reasons for this:
It is important to point out that statistics highlight May 1st to May 15th as the optimal selling period. However, in our opinion, it is better to get your home on the market that little bit earlier. This allows you to get ahead of the competition – there may be eager early buyers in the marketplace, and with fewer properties being listed in March, shrewd sellers can get a run on the competition. Not everyone will buy a house instantly, some people will take their time thinking about the purchase, so although figures show that the best time to sell is May, many of those buyers that the statistics are highlighting may have initially viewed the properties in March
If you are trying to sell your home, ensure your property is looking its best and aim to place it on the market in early March if possible. Hopefully, if all things go well, your home could be sold by the end of March, enabling you to move into the home of your dreams
© 2016 Connecticut Real Estate Investors Association. All rights reserved.