Why You Should Sell Your House Before the New Year
As the year comes to a close, you may have chosen to make a change and place your home on the market. Should you, however, sell now or wait until January? While it may be tempting to postpone your relocation until after the holidays, here are three reasons why you should do so before the new year.
Get One Step Ahead of Other Sellers
Homeowners are less likely to offer their homes around the end of the year in the residential real estate market. Because individuals are busy throughout the holidays, they may put off selling their home until the new year, when their schedules and social calendars have calmed down. However, this provides you with an opportunity to go one step forward.
Selling now, when some homeowners may wait until after the holidays, might give you an advantage over your competitors. Begin the process with a real estate professional immediately so you can list your home before your neighbors.
Get Your House in Front of Eager Buyers
Even though the quantity of available houses for sale increased over the previous year, it remains low. This suggests that there aren't enough houses on the market right now. While some customers may postpone their intentions to relocate until January, others will need to relocate for personal reasons or because something in their lives has changed.
Those buyers are still going to be active later this year and will be seriously motivated to make their move happen because they need to. Unfortunately, the challenge they'll face is a shortage of available inventory to meet their needs. A recent article from Investopedia says:
“. . . if your house is up for sale in the winter and someone is looking at it, chances are that person is serious and ready to buy. Anyone shopping for a new home between Thanksgiving and New Year’s is likely going to be a serious buyer. Putting your home on the market at this time of year and attracting a serious buyer can often result in a quicker sale.”
Use Your Equity To Fuel Your Move
Keep in mind that today's homeowners have historic amounts of equity. The average amount of equity per mortgage holder has risen to over $290,000, according to CoreLogic. That implies the equity in your property right now might cover part, if not all, of the down payment on your ideal home.
And, while you assess the benefits of selling before the end of the year, recall why you want to relocate in the first place. Perhaps it's time for a new house in a better location, one with more space for you and your loved ones, or perhaps your needs have changed over time. A local real estate agent can assist you in determining how much home equity you have and how you may use it to accomplish your objective of moving.
Listing your house before the new year might have certain advantages. Less competition, keen bidders, and equity increases can all work in your favor. Reach out, and let's work together to reach your goals before winter arrives.