author:John Carle & Sharon Gregresh
As Realtors, we are often asked, “When is the best season to move?” This is a tough question, one we cannot answer for you. Most people are asking about price, do they fluctuate throughout the year? NO. Just the number of homes on the market changes; of course the number of buyers changes as well. Hopefully this article will help you make this decision for yourself and your family.
Time of Year
A common “urban legend” is that you get more money for your home in the spring. This is simply not true. Seasons have no bearing on how much you get for your home, but it does affect how much competition you have. True, more people look to purchase a home in the spring. At the same time, there are more homes on the market for you to compete with. Unfortunately, this is also the time of year when all the “window shoppers” are out. These are people looking for renovation ideas, or who are just “killing an afternoon” looking at open houses. In the winter you will have fewer showings… but they’ll be serious buyers. So, should you NOT sell in the spring? Not at all. There is no good or bad time of the year to sell your home. The best time is when you are financially and emotionally ready to move. Not before, and not after.
Many parents wait until the end of a school year before moving the family. At first glance, this makes a lot of sense. Let them finish the year in comfortable surroundings, and don’t disrupt their lives until summer holidays have begun. But consider this… Children need friends to play with. By moving the kids a couple of months BEFORE the end of the term, they have the ability to meet their new friends in the new neighborhood. By having these friends, the move will be easier and less confusing for the children. And parents?!? If the kids have friends to play with… they won’t be underfoot while you’re trying to unpack and organize the house!
Time is on your side
The very fact that you have time on your side could save you thousands. Many sellers that have waited have put themselves in a “have to sell” situation, and have had to accept offers for less than what they wanted. The fact is, when you have time on your side you won’t feel pressured to accept an offer that’s less than what you want.
Your next property could cost more
If you’re buying a new property that’s more expensive, you could cost yourself plenty. For example, let’s say you’re selling a $100,000 property and looking to buy a $150,000 property. If both properties appreciate at the same rate of 3% over the next six months, you gain $3,000 on your existing property. However, the $150,000 property will now cost you $154,500 or a net loss of $1,500. The best suggestion is to get into the home you want; before it gets out of reach for you!