When it comes time to sell your home, you may be looking for a bigger space, relocating, or wanting to cash in on equity. Whatever your reasons, if you can sell when the market is hottest you'll get more for your property. Which will help you realize your home selling goals.
If you're thinking about selling during summer, here are five tips to help you maximize your profit on your home sale.
Seasonality Affects Home Sales
Seasonality can have a big impact on home sales. Listing your home during the best time of year for your market means that it could sell faster and for top dollar.
Most home buyers don't want to troop in and out of houses during the winter, or pack up and move when there's two feet of snow on the ground. But this will be less important in states that have mild winters. Couples with children try to avoid moving during the school year. Spring and summer are typically the strongest buying seasons.
According to Zillow, the best times to sell a home nationwide are the first two weeks of May. Another study found that home sellers received offers 5.9% above market value during this month. And some of the best days to list are at the end of the week through the weekend, or Thursday through Saturday.
But this can vary a lot depending upon your market. In Idaho, March is the best time to sell, but in New Mexico, it's February. If you're trying to time the market to get the most for your house you should work with a realtor who has experience in your local market.
Start Preparing to Sell before Summer Hits
It takes an average of two months to get a home ready to sell. If you plan on listing in June, count backwards and start prepping in March. Take care of all the small repairs you might have been ignoring, such as broken light bulbs and light switches, a loose railing, or peeling paint.
This is also the time to start shopping around for a realtor to help sell your home. You'll want to have the time to interview several prospects to find the best fit for both your personality and goals.
Price Your Home Competitively
While you'll likely get a premium on price if you sell during the summer months you still must price your home competitively. A premium is the amount above listing price that home sellers made, which doesn't mean that they overpriced their home to begin with. In fact, it could mean that they priced their home so competitively that they attracted many interested parties and there was a bidding war!
If your home is priced within the market's range, you'll attract a lot of interest. Potential buyers will add it to their showing list or attend open houses. Your realtor can help you land on a competitive price by preparing a comparative market analysis. The analysis compiles all the data on recent home sales in your area, including their list versus selling prices, to give you the best picture of your market.
Once you have this data, you can discuss with your realtor your home's similar features and unique qualities and pick the best price.
Keep Things Cool
Showing a house in the summer means saving on heat bills but spending money to keep the place cool. Definitely plan on having your air conditioning serviced before listing, as it should be in working order. You want buyers to linger in your home, not rush out of there sweating and exhausted.
Outdated or broken systems can be a huge barrier to a sale in a state that has an extremely hot climate. Talk to your real estate agent if you're concerned and wondering if you should upgrade or replace your HVAC before selling.
Up Your Curb Appeal
One of the reasons that summer is such a great time to sell a home is curb appeal. Flowers will be in bloom, trees will be green, and there's no snow on the ground. Play up your home's natural appeal and wow buyers when they pull up to the curb.
Tidy up landscaping and lay down some mulch. Trim bushes and trees. The good news is that you won't have to rake or stay on top of dead leaves, and the weather works with you this time of year.
If you want to sell your house for top dollar, try to get more than just the season on your side. Reach out to Clever to get connected to a top-rated, full-service agent in their area who can help you get a great price. And they can save you money on commission, too!