What's the Worst Time to Sell Your House?
Are you thinking about selling your house in the near future? If so, there are multiple factors that will play a role in how much money you can get for your house. One of the most important factors is timing. If you sell your house at the right time, you can significantly drive up the value of your house. On the other hand, if you pick the wrong time, you could end up with significantly less money. What is the worst time to sell your house? Take a look at a few important points below.
When There Are Lots of Houses Available
When you try to sell your house, you will be competing with every other person in your local area who is trying to sell their house. If there are a lot of houses on the market, you may have a difficult time getting noticed because of all the inventory available. For example, if you put your house on the market, and there are ten other houses on your street that are also on the market, how are you going to get a fair price for your house? Therefore, if there are a lot of houses on the market, try to avoid selling your house during that time.
On the other hand, it is also a bad time to sell your house if there are not a lot of people looking for a house. If you don’t have a lot of buyers available, sellers will be competing for the few buyers that are out there. Therefore, consider selling your house when there are a lot of people looking for a home.
When Interest Rates Are High
You should also try to avoid selling your house when interest rates are high. Nobody wants to pay more than they have to for a house, and if interest rates are high, they can significantly increase the amount of money someone has to pay to purchase a house. Therefore, you should try to keep an eye on interest rates. If mortgage rates are very high, it makes it much harder for someone to afford a house. As a result, someone will think twice before they decide to apply for a mortgage. If homeowners know they can save money by snagging a low interest rate, they might be willing to pay a bit more for a house. This could drive up the value of your home.
During the Holiday Season
Finally, the holiday season is also one of the worst times of the year to sell a house. This means that you should try to avoid selling your house during November or December. There are several reasons why people are reluctant to buy a house during this time. First, people are tied up with a lot of holiday plans. Nobody wants to ruin their Thanksgiving or Christmas travel plans because they are stuck moving. Second, a lot of people who buy a house have children. Parents do not want to relocate their children in the middle of the school year, particularly if it means they need to switch schools. That is why a lot of people will try to wait until the summer to buy a house.
Finally, because the days are shorter, people are less willing to spend time looking at houses. The lack of daylight can make it hard to see the exterior of the home. Therefore, if you decide to sell your house during the holidays, you may have a hard time finding a buyer.
Sell Your House Fast With Frank Buys Houses
Instead of having to wait for the right time to sell a house, you should get a guaranteed offer on your house today. At Frank Buys Houses, we buy houses in the local area. It would be our pleasure to come to your house, take a look at your home, and make an offer. You do not have to worry about spending a lot of time getting your house ready for showings, and you don’t have to worry about waiting weeks for your house to sell. We can get you to the closing table as quickly as possible. Contact us today to learn more about the cash offers we make!