All Thoughts Turn to ... Real Estate
Many of us think of winter as something to endure. Holiday bills to pay, icy roads and power outages and the days are simply dull and dreary. Winter blahs. But rather than hibernating with your town’s winter barometer, the groundhog, think again. If you want to sell your home, consider January, February or March - it’s one of the best times of the year to put your home on the market.
This information may surprise you, but read on, there are some very valid reasons why the winter months offer you some of the best opportunities to sell your home.
There are no hard and fast rules as to when people buy or sell a home. The decision to purchase a home is often based on reasons as personal and unique as the variety of homes on the market. However, some lifestyle and social circumstances will often dictate an increase in the number of closing dates for the spring and summer months. Situations such as rental leases and the school year have an impact on when houses are put on the market. Have you ever tried to rent a moving van on a Saturday from May to August.
Many first-time buyers coming into the market are renters and the most popular renewal date for leases are the early summer months. As a result, first-time buyers tend to go house-hunting in the first three months of the year to ensure that they can close on occupancy in early summer, and offer their landlords a 60 day notice. If your home is in the first-time buyer price range, the winter would be an ideal time to put your house on the market.
Soon after many first-time buyers have purchased their homes, it’s time for the move-up buyers, those who sold their homes to the first-time buyers, to enter the market. So during the early spring, move-up buyers are searching the market for a new home from March to the end of May, maintaining the home selling cycle.
Very few parents want to disrupt their child's education to move. For that reason, many homeowners try to select June, July or August for a closing date so that they may have time to move to a new neighbourhood without removing the children from their current school.
Again, these are the types of house-hunters who begin to look for a home during the winter and spring months. Would your home be ready for summer occupancy?
"But I Want to Go on Vacation"
If the winter months are the time of year you prefer to fly south, don’t despair. Vacating your home can often make it easier for your agent to show your home to potential home buyers.
Consider leaving your house keys with your agent who can show your home at the house-hunter’s availability. You’ll never experience the pressure or inconvenience of rushing to clean up the house for visits from potential home buyers or having to vacate your home during your precious personal time. In fact, your realtor will have many more opportunities to take prospective home buyers through your home in a relaxed atmosphere without pets or children underfoot while you're away.
So the next time you’re out there shoveling snow, consider digging a hole for a For Sale sign!