“When is the best time to sell your home?”
I often get asked when is the best time to sell your home. In Northeast Ohio, typically Spring marks the busiest home buying and selling season, with warmer weather, more daylight, and the desire to get a home before the next school year begins. As long as the most recent data for comparable homes sold for less during the winter isn’t “holding you hostage”, all usually balances out. On the contrary, offering more data from the prime robust spring season will help when selling in the Summer and Fall.
However, I feel the best time to sell your home is when it is the right time for you. The fact of the matter is that the best time to sell your home is when your need or desire to sell, exceeds your need or desire to remain in your home. Consider the following –
When your current home is no longer the best fit for your needs.
Maybe your current home isn’t your “forever home?” I consider homes to be more like stepping stones. Our needs change as we go through life. You may want to move, because you need more space for a growing family. Your children could have moved off to college and you could be “swimming” in your home. You may have aging parents who need to move in and need your help. The commute to your job may be killing you, or now you work from home and discover you do not like your neighborhood. When your home no longer fits your life situation, it is a time to consider selling.
Your current interest rate is high.
Interest rates are at historic lows. If you are carrying a high interest rate mortgage on a home, and refinancing won’t help or is not an option, then selling may be worth a consideration.
When the market favors the seller and the seller’s wallet.
The real estate market always shifts to a buyer’s market, a seller’s market, or a balanced market. If the market is favoring sellers, you may want to consider putting your home on the market. Especially if your home is paid off, every dollar you earn over what you paid for is pure profit.
Every single day, homeowners become new or former homeowners for all kinds of different reasons. There are no invalid reasons to sell your home; there are only the reasons why it may be the right time for you. In my opinion, the best time to sell your home is when it’s the right time for you.