Why Selling Your Home Before the New Year Makes Sense
As the year comes to a close, you might be contemplating the idea of putting your home on the market. But, is it better to wait until January or take action now? While the holiday season may tempt you to postpone, here are three reasons to consider making your move before the new year arrives.
1. Stay One Step Ahead of the Competition
Traditionally, the end of the year sees fewer homeowners listing their properties for sale. The holiday season tends to keep people busy, causing many to delay selling their homes until the start of the new year when life regains its normal rhythm. This situation presents an opportunity for you to get ahead of the game.
By choosing to sell now while others might be waiting until after the holidays, you can position yourself as a market leader. Start the process by engaging a real estate agent today, giving you the edge of having your house on the market before your neighbors even begin.
2. Reach Eager Buyers
Although the inventory of homes for sale has seen some growth compared to previous years, it remains relatively low. This means there's a limited number of homes on the market. While some buyers may postpone their plans until January, others have pressing reasons to move, such as changes in their personal circumstances.
These motivated buyers will still be active in the market later this year, and they are often driven to act because of their immediate needs. The challenge they'll face is the shortage of available homes that match their requirements. An article from Investopedia points out:
"...if your home is listed for sale during the winter, and someone is considering it, it's a strong indication that they are a serious and committed buyer. Anyone looking for a new home between Thanksgiving and New Year's is likely a genuinely motivated buyer. Placing your home on the market during this season and attracting a serious buyer can often lead to a quicker sale."
3. Utilize Your Home Equity for Your Next Move
It's worth noting that homeowners today possess substantial equity in their homes. CoreLogic reports that the average equity per mortgage holder is approaching $290,000. This means that the equity you've built in your home can potentially cover a significant portion, if not all, of your down payment on your dream home.
As you consider the idea of selling your home by year-end, it's crucial to remember the original reasons that ignited your desire to move. Perhaps it's time for a new home in a location that better suits your lifestyle, one that offers the ideal space for you and your family, or maybe your requirements have evolved over time. We can help you evaluate your current home equity and determine how you can leverage it to fulfill your goal of moving.
Listing your home before the new year arrives offers distinct advantages. Less competition, motivated buyers, and the potential for capitalizing on your equity gains all work in your favor. Reach out to us, and together, let's strive to achieve your goals before the winter season sets in!
