As you look ahead to the winter, you’re likely making plans about what you want to accomplish before 2022 ends. If the location or size of your current home no longer meets your needs, finding a house that better suits your lifestyle may be a top priority. But with today’s cooling housing market, is this really a good time to sell, or should you wait?
If you’re ready to make your move, here are three reasons why you may want to decide selling before the holidays.
1. Get One Step Ahead of Other Sellers
Typically, homeowners are less likely to list their houses toward the end of the year. That’s because people get busy around the holidays and deprioritize selling their home until the start of the new year when their schedules and social calendars calm down.
Selling now, while other homeowners are holding off, can help your house stand out. Start the process today so you can get your property on the market and be ahead of your competition.
It’s also around the holidays that we often complete minor maintenance projects, because relatives and friends will be visiting. We paint the extra bedroom, fix a broken step on the back deck or give the guest bathroom a quick touch up. These are all tasks that will also help in marketing your home.
2. Get in Front of Serious Buyers
Even though housing supply has increased this year as buyer demand has moderated, it’s still low overall. That means there aren’t enough homes on the market today, especially as the millennial generation reaches their peak homebuying years. As Mark Fleming, Chief Economist at First American, says: “While not the frenzy of 2021, the largest living generation, the Millennials, will continue to age into their prime home-buying years, creating a demographic tailwind for the housing market.”
Serious buyers will continue to look this winter and your house may be exactly what they’re searching for. If you list your house now, you’ll be able to get in front of the eager buyers, who are hoping to make a move before the year ends or by early in 2023.
3. Seize a Great Chance To Move Up
Don’t forget, that as a homeowner you quite possibly have a substantial amount of equity. According to CoreLogic, the average amount of equity per mortgage holder has climbed to almost $300,000. That’s an all-time high. That means the equity you have in your house right now could cover some, if not all, of a down payment on your next home. (That’s what we did.)
As you weigh the reasons to sell before winter, don’t lose sight of why you’re thinking about moving in the first place. Maybe it’s time to buy a house that’s in a better location, has the space you and your loved ones have been craving, or simply gives you that sense of home.
If you’re thinking about selling your house so you can find a home that better suits your needs, don’t delay your plans. Let’s connect at 508-360-5664 or msennott@ todayrealestate.com so we can develop a marketing plan for your current home and begin the search for your new one.
The Friday, November 11, is Veterans Day, a federal holiday set aside to honor the men and women who have served in our Armed Forces.. We thank all of them for their service and sacrifices. We are forever grateful.
Mari and Hank