As the year comes to a close, you may be considering selling your house. However, the question arises- should you wait until January or sell it now? It’s a good question, but there are several compelling reasons to make your move before the new year arrives. In this blog post, we’ll explore three reasons why selling your house before the new year could be the right choice.
Get Ahead of Other Sellers
Typically, during the holiday season, people are less likely to think about selling their homes, which means that competition may be lower if you decided to sell your house now. It’s an excellent opportunity to get one step ahead of your competition. On the one hand, it’s tough to identify the right price for your house, especially if you decide to sell it yourself (FSBO). Therefore, hiring a real estate agent now to get your house on the market before others is the right first step. They offer professional advice on pricing your house, market trends analysis, and staging your house.
Motivated Buyers
People who are looking to buy homes towards the end of the year tend to be keen to close the deal as soon as possible and are more likely to agree to your terms. For instance, purchasing a home in December may sound attractive to buyers as they may claim them as their primary residences for tax reasons in that year. Hence, selling your house before the new year can attract more motivated buyers who are more likely to close the deal soon.
Your Equity Gains
Every month you continue to hold onto your home, you are inching closer to the next periodically scheduled mortgage payment. Selling your house before the new year may allow you to capture your equity gains before you would have to pay another mortgage installment. This additional equity can help you purchase your next home in cash or put towards other plans.
Less Competition
Selling your house before the new year helps you reduce the competition and get a better price for your home. Fewer homes on the market mean that yours has a better chance of standing out compared to others. Thus, you may be able to price your house a little higher than you initially thought.
So, while it may seem tempting to hold off until the new year, selling your home before the year-end may be a smart decision. By doing so, you may get ahead of other sellers, attract motivated buyers, increase your equity gains, and face less competition in the real estate market. Ultimately, by taking action now, you can make a confident move towards achieving your home’s selling goals. So, if you’re ready to put your house on the market, contact a local real estate agent to guide you through the entire process.