The winter months can be slow time of year in the real estate industry. You may think that fewer people are looking for homes due to the fact that moving in the snow and cold is less than ideal. However, depending on the market, you’d be surprised how much seasonality might not affect getting the most for your money when selling.
Here are some things to consider...
WHY IS YOUR HOME ON THE MARKET?
If you are selling your home because you are being transferred to a new job or for any other time sensitive reason, you shouldn't hesitate to put your home on the market. In the event that you can't find a buyer quickly, you can always use your home as a rental property until you are able to sell it. You'll be surprised the number of people that will be searching for a new home right after the holidays.
DO YOU HAVE AN INTERESTED BUYER?
Has someone contacted you about selling your home? If there is an interested buyer willing to make you a reasonable offer on your home, you shouldn't hesitate to sell it now. If you have received offers that are less than satisfactory, it is in your best interest to hold off until you find the right buyers. Keep in mind, though, that there’s not nearly the fluctuation in home values from winter to spring as people would think.
WHAT IS THE HOUSING MARKET LIKE IN YOUR AREA?
The housing market in your area is going to be a deciding factor in your decision to sell now or sell later. If houses in your neighborhood are listed and selling quickly, it may behoove you to sell now. The winter selling season is prime for many housing markets across the country, so deciding whether or not to sell during the winter months varies. Check with a local Realtor to determine whether the time is right for your market.
DO YOU NEED TO FIX THE HOUSE BEFORE IT IS SOLD?
A new roof, a fresh coat of paint and beautiful flowers lining the front of the house instead of snow and ice can increase home appeal, so keep in mind that if you have major repairs to make that the spring is an easier time to do so. In the grand scheme of things, pre-sale repairs and upgrades are always beneficial in adding to the overall value of your home, regardless of season or market conditions.
For more advice about selling your home check out our blog.