by Bella Scotton
A very common question when a homeowner is going to put their house on the market for sale is “When is the best time to sell”? A better question is “When is the best time for ME to sell”.
The general advice that is given in the real estate market industry for home selling is to sell your house when the market is hot. That’s fine in theory and it is tempting to make a good profit off the sale of your home, but what happens when the market is hot but the timing is not ideal for you. Is the profit you are going to make worth the sacrifices that you may have to make in your personal circumstances?
For example, it may be half way through the school year and the kids are at a pivotal point in their education. Or, will selling your home at a great price mean that you will have to buy another home in the area at a steep price because otherwise it may not be convenient to move elsewhere because of work purposes.
Then you may be thinking that you can sell in a hot market and buy a fixer upper at a lower price so you don’t eat into the equity profits you have gained from the sale. However, what happens if you happen to have a very hectic lifestyle at the moment and there just isn’t any time to take on the home handyman role? But, if your personal circumstances will allow for it there are plenty of houses on the market for under $100,000. and depending on your flexibility this may be a golden opportunity for you especially if finances are big factor in your personal situation at the time.
These are just a few of the things that you need to think about when it’s the best time for YOU to sell your home.
Then there are times when you need to sell because of circumstances and the market may not be hot. Does this mean that you just have to bite the bullet and take a loss? Maybe not, as there is one success story when it comes to home selling that is quite unique in many ways but one significant way was in which the neighbors played a role in getting the house sold at a reasonable price.
In a nutshell the sellers lived in a very close knit community, and had reached a point in their life where they had to sell because of work reasons. The timing was definitely not right as far as the housing market went but this was a necessity and when the neighbors became aware of this they were split in their thoughts about the sale. The house needed to be prepared for presentation so half the neighbors pitched in to make this a reality. What it really came down to was presentation. Some felt that this was important while others didn’t. The conclusion was that presentation did play a very important role in this success story.
The bottom line is when you are thinking about selling your home, it has to be for the right reasons, and that the outcome of a successful sale is going to be a positive experience based on your personal needs. Plus, having some neighborhood support can be a great resource as well.
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