Financial Tips

When is the Best Time to Sell Your Home?

A lot of people live in the same home throughout most of their life. This can be a great thing, but for us, you know this is not the case. This story goes way back to my childhood to when I lived in six different homes in the same town over a period of about ten years.

My dad enjoyed building homes and this was actually a side business for him. It was a way to make extra money and probably what paid for my first car, college, and many other things as I was growing up. He wasn’t a doctor, nor had a job that made very much, so this was a way to provide some of the extras we enjoyed growing up.

Why we have Built and Sold so Many Times

I think building homes is just in my blood. If you have read our story, you know that Henry learned lots from my dad along the way. Henry and I realized we both had a love for homes and design. This is where our journey began.

Henry and I have both had full-time jobs in the past. I taught school for several years and Henry was always in the digital design field. Like my mother and father, we too always had a side project going, either remodeling our home or building one.

After starting our Instagram account a little over a year ago, we started talking about what our next project would be. When doing some major thinking about being smart with our money, we decided that building another home would be a great idea. Not only would it be a good investment, but it would also give us some really good hands-on content, and of course allow us to do what we enjoy at the same time. So, here we are only two to three weeks from finishing our home and current project.

Of course building a new house meant that we would also have to sell our current house. This is actually the sixth house we have sold. So we have learned a few things about selling a home over the years, including the best time to sell.

Right Time Of Year

Does the time of year you put your home on the market really make a difference? I think it truly does. Think about it. The more people looking for a home during a certain time period will allow your home to be shown more to potential buyers. Research has proven that homes that go up during the spring and summer months have a much higher success rate at selling quickly and getting a higher purchase price.

Lots of factors can go into spring and summer being a better time to list your home. One of the biggest reasons is that the weather is much more pleasant and therefore intrigues people to want to look at homes.

Another factor is that children are out of school for spring break and summer. This allows families to take time to look for new homes. Some may even be moving into the area and will use the breaks to travel and look at properties during that time.

When Interest Rates Are Low

Although we can’t always wait around for the lowest rate, it is always a good idea to try and sell your home when interest rates are at their lowest. At this point, you will see the market full of potential buyers eager to take advantage of the low rates. And this will benefit you as well. Buyers may even be willing to pay a little more on the purchase price if they know they can afford the monthly payment.

Before It Becomes Outdated or After Updating

I can understand why you may think this is a crazy one, but to get top dollar out of your home this is actually a good idea. As much as we love to think of our home as being timeless, there are some things that will always go out of date and need to be updated. You have two kinds of buyers, the one who is looking to get a home cheap and then update it or the one who will pay more for a home that is already updated. For you to maximize your profit, it is best to keep this in mind.

We have found that an updated home can actually move very quickly. It will attract buyers that are willing to pay more for a home that is ready to move into versus a home that needs updates. Homes that are aesthetically pleasing drive prices up and sends more people to view the home. Keep in mind that it is smart to live in a home at least two years before selling it. This will prevent you from paying capital gains tax on your home.

Share
Previous Post Next Post

You may also like

6 Comments

  • Reply Amanda

    Such good tips! I’ll miss seeing this beautiful home!

    January 28, 2020 at 3:06 am
    • Reply Brooke

      Thanks Amanda! We will miss sharing it.

      January 28, 2020 at 3:13 am
  • Reply Amber Dahl

    We are building and going to be selling soon too. Thanks for these tips. I’ve been painting our current home and trying to shine it up, and this gives me more motivation to do it. Best of luck as you move!

    January 28, 2020 at 1:37 pm
    • Reply Brooke

      Hello Amber!
      You are on the right track. It’s amazing what some paint can do to in giving a home a more updated look. First impressions are everything!

      January 29, 2020 at 6:03 pm
  • Reply Teresa

    Enjoyed reading this post and getting your insight on selling. I agree that Spring/Summer is the best time for selling and I think a house just shows better during the warmer months when things are blooming and every thing looks greener and fresher.

    I have noticed that while there are fewer listings during the winter months in our area (central VA) things are still selling fast if the homes are updated, in desirable areas or priced right. I am still seeing flips in our area as well just not as many.

    January 29, 2020 at 2:20 am
    • Reply Brooke

      Hello Teresa!
      I agree, something about warmer weather that really just makes people want to buy and look at homes.

      That is so great that you all seeing a market for updated homes. I also see this in the area we live in. More people really want something to where the work is already finished and move in ready for them to enjoy.

      January 29, 2020 at 6:07 pm

    Leave a Reply

    Join

    OUR COMMUNITY

    Enter your email address below to become part of the Plank & Pillow community. We’ll let you know about all of our new content and what we’re up to.