If you’re thinking of moving, take a look at why this could be the best time of the year to kick-start your plans.
Preparing your home in the winter to sell in the spring typically makes sense because people tend to start looking for properties when the weather warms up. It’s understandable why spring is often the busiest season for buying and selling because people have their tax refunds in hand, the weather will be good for moving, and the kids’ summer vacation will soon arrive.
Over the past five years, research has shown that March has been the best time of the year to sell a home.
Why is March the best time to sell?
This time of year, the number of purchasers inquiring about properties for sale is generally at its peak. More purchasers are wanting to relocate in March than any other month of the year, according to our data. Buyer competition for available houses is usually at its greatest.
And the good news is that buyers have more homes to choose from in March than at the start of the year, as the number of properties for sale tends to also be highest. There are more homes being listed for sale this year compared with last year.
And lots of home-hunters are keen to move into a new home before the start of summer, with things like gardens and outdoor space at the top of many home-movers’ wish lists.
So, if you’re thinking of putting your home on the market this spring, it could mean you’ll have a better chance of selling, and sooner, because more buyers are looking to move, and there’s more competition for every available home.
How to be in the best position to buy when you find the ‘one’?
If you’re planning to buy, you may prepare by researching recent sold prices in the locations you’re interested in, setting up property alerts, and obtaining a mortgage preapproval letter.
If you’re thinking about selling your house, you’re probably also seeking to buy a new one.
Another piece of guidance from estate agents is to make sure your home is on the market or preferably sold subject to contract, before starting your property search. This is because many sellers will want to know if their buyers have sales already agreed on their homes. If you have a home to sell, you can arrange a market valuation with an expert local agent.
Sell when you’re ready
When it comes down to it, the best time to sell is the best time for you. All kinds of personal factors can play into your decision to sell, from job changes to family changes to just generally feeling ready. Keep the following factors in mind:
Lifestyle changes: Job changes, relocations, a growing family, and downsizing are the most common reasons people decide to sell. Job-related moves often require a stricter timeline, whereas family-related moves can sometimes be timed to take advantage of beneficial market factors.
Emotional preparedness: No matter the reason for your move, it’s important to make sure you’re emotionally prepared. Even if you’re moving for a logical reason — for example, you’re a recent empty-nester downsizing after your kids are grown — it can be hard to let go of the memories associated with your family home. Give yourself time.
Financial benefits: If your home has gained substantial equity, the value you’ve built may be enough to get you a healthy down payment on your dream home or give you a comfortable cushion for retirement.
Bottom Line
Let’s connect to determine how much equity you have in your current home and how
you can use it to help you make your next move today.