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.
The Time Of The Year Can Make A Difference
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.
When Is The Best Time to Place Your Home on The Market and Why?
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:
- Tax Refund Time – Although not a primary cause, some people who receive a large tax refund, can be looking to make use of that extra money, to put towards a deposit, so placing your home on the market in early March, is a well thought out logical decision.
- Parents Are Contemplating New School Choices For The Fall Semester – For many people their choice of property is dictated to a certain extent, by the school choices they want to make for their children. They may want to be closer to a particular school, or at the very least have an easier school run, and March and April tend to be the time that most families begin their search.
- The Days Are Getting Longer – Again this may sound like an unexpected factor, but as the spring approaches, and the days get longer, people are not only more inclined to go out property hunting, but there are also many more hours in the day when it is possible. When the sun is shining, and the climate is more moderate, more people are likely to come out of their homes and view other properties, than if the weather is cold, wet and miserable.
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