Timing can be all. And, according to some estimates, selecting the correct time to purchase or sell a house might save you tens of thousands of bucks.
Best time to sell
While there is a tendency for customers to choose from more inventory in the spring, there is generally more competition as well, which is good for vendors.
After evaluating states some Experts concluded actual property information, the Experts up with that report. It showed that May had the largest sales amount compared to any other month of the year and that prices tended to be greater.
Possible reasons for that is that aside from nicer weather, a home tends to show better in spring and summer. More buyers may also be ready to buy as they might be using their tax refunds for the down payment. Plus, if they have kids, moving in summer means schooling isn’t interrupted.
Report added that selling in May can get you $60,000 more than if you were to sell in January, on average over the past five.
Best time to buy
“If someone lists a house in the winter, it’s a pretty secure bet they’re keen vendors and more open to negotiation. If not, they’d wait for the spring, a Reporter said”.
Also, sellers may be more driven to accept an offer in January as the holiday credit card bills start rolling in, Reporter said. Purchasers can also enjoy the holidays themselves.
“The house of somebody can be an emotional attachment, so the vendor thinks, ‘ If they are prepared to create an offer on Christmas Day of all days, they must really enjoy this house.’
“And another factor that comes into play is … individuals are in nice and generous moods on Christmas Day so they might very well be prepared to accept less cash than they usually would any other day..”
During the holidays, people who are just sick and tired of shows can be another motivator, like B.C. Realtor’s point was made. She said she had some “very nice offers” about Christmas for customers.