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Many clients have been asking me recently whether they should wait until the spring to put their homes on the market. Here are a few considerations to make during this process:
- What is your timetable for sale? If you have children and would like them to finish school before moving, perhaps waiting until the spring would be a good idea. In this case, allow yourself at least 4 months for this process (from listing to sale) to occur.
- However, keep in mind that 60% of homes are listed in the spring and summer. Putting your home on the market earlier will give you a competitive advantage if you don't have any time constraints to deal with. Plus, putting your home on the market when inventory is low will result in multiple offers and possibly a higher selling price.
- Consider interest rates. Right now rates are the lowest we've seen in 45 years, and the consensus is that they will probably rise by a point to somewhere around 5%. Because of this, if you have no reasons not to list your home for sale right now, then you should go ahead and put it on the market as soon as possible.
- What are the advantages of setting a time-table on your home? If you want to avoid owning two homes simultaneously, you need to plan your move-in and prepare to sell your property ahead of time. Owning two homes at once is tricky financially as well as logistically!
Have a great week!
