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The Best Time To Sell Your Home

The Best Time To Sell Your Home

As with any investment it is sometimes difficult to determine when is the best time to sell. It can be even more difficult when trying to figure out when is the best time to sell your home because it isn't as easy as cashing in stocks or liquidating bonds. There are multiple considerations which should give thoughtful evaluation prior to making a decision to sell your home because in the housing market timing is everything.


The rule of thumb for purchasing a home is that if you're not going to be living there for five years or more then it isn't a worthwhile purchase. Houses should be purchased and sold according to living conditions and not as investments. If you're going to be in the home for less than five years you'll probably lose money than if you had just rented. A possible exception is when a home buyer has initially made a substantial down payment of 20% or more and their monthly mortgage payment is more than the required minimum such as making double principal payments. If this is the case then it is possible to sell a home in a shorter time frame without taking too much of a loss or possibly even turning a profit.


Selling a home isn't as easy as just slapping a for-sale sign on the front lawn and calling it a day. The best time to sell your home is when you have the time and money available to properly renovate and prepare a home to be placed on the market. This might require working on weekends and spending money to install or upgrade landscaping. It may also be necessary to repair any damage that may have occurred for the duration of your current occupancy. It is recommended for homes that are on the market to be kept in like new condition so perspective home buyers feel like they're moving into a brand-new home.


Even if you sell your home that's only half of the solution because you'll still need a new place to live. Most families and individuals are normally unable to afford two mortgage payments or a mortgage and rent to live somewhere. Decoding the logistics of where you're going to live either during or after the sale of your home is an important consideration. The best time to sell is when other living accommodations have been figured out and an appropriate budget is available to maintain that living condition until you sell your home.


There are numerous financial considerations involved when selling your home and even the best laid plans can be ruined when unexpected costs turn up. Do you have money for repairs? Can you afford to pay for shipping of furniture and other possessions? Is your current work situation stable and willing to tolerate a move? Do you have a sufficient cash cushion should the house stay on the market longer than expected? These and many more questions must all be factored in when determining the best time is to sell your home. Talk to friends and family and a realtor as they may be able to point out certain finances that you may not have calculated when looking to sell.


Like many other industries, housing tends to be cyclical and goes through boom and bust periods. Not everyone has the choice of when they want to sell their home either because of divorce or a forced relocation do to work. But if you do have the choice then the best time to sell your home is during a sellers market. This puts home sellers in control and can demand top dollar for like new properties without having to make too many compromises or sacrificing profit. A realtor will be able to provide an instant snapshot of the current trends in the housing market. A quality realtor will listen to you and give you good advice about whether you should wait six months to a year or if now is the right time to sell.


The best time to sell your home is when all of the above considerations have been thoroughly analyzed and the consensus is that now is the right time. Selling a home will almost always have complications and roadblocks but thoughtful planning and preparation can turn the odds in your favor to maximize your investment and come out ahead in the real estate market. There may be additional considerations which could be pertinent to selling your home so speak to a realtor and others you trust and they will be able to tell you when the best time is to sell your home. Home ownership is considered a monumental decision when buying so just as much care and effort should be given when selling.

Image by: Photo Dean