The most common question I get as a Realtor year over year is "when is the best time to sell my home?" The simple answer is the best time is when you and your family decide it's time. Sound too simple? The truth is people move every month of the year for many reasons, family size change, job change, death, divorce, marriage, birth, estate planning or just because...
Timing the economy is challenging but there are things you can do to get the most for your home. This might sound cliche but there are tried and true measures you can take that don't cost a lot. Declutter! Go through and decide what do you want to take to your new home. Everything else gets donated or discarded. Start today. Goodwill, St Vinnies and Habitat for Humanity (Take everything!) are the easiest. If you have big items, some organizations will pick up. Note - if you don't want it, the buyers probably do not want it either.
Prices are not going up like they did a few years ago so if you are waiting to sell to get more money, stop waiting. The good news is that the gap between the low interest rate you might have and the interest rate for your purchase is shrinking. Todays rates are 5.75% - 6.125%, if you look at a rate chart for the past 50 years, that is a below average rate.
The equity you have in your home is not working for you while locked in your homes value. Selling can allow you to take some of that equity and put it to work in another investment and still have enough for a generous down payment.
The average time it takes to sell has increased to about 60 days on market, some areas take even longer. Keep this fact in mind as you make your plans because there is also 1-3 months of time from initial offer to close. The days where buyers made an over ask offer in the driveway with a 2 week close are behind us. There is more inventory and buyers are taking longer to make their choice. Also expect buyers to request an inspection.
If your home has little items that can be easily repaired like a broken door knob, unattractive front door, unfortunate color choice on a wall, old water heater, this is the time to consider taking some time to fix minor items to prevent equity thieves.
My team is here to help, give us a call with your questions as you decide if the time is right. 781-783-2963 Debi & Ashley 508-367-1014