Selling or Buying a Home? Make Sure You Get The Timing Right.
Every seller wants the best possible price for his/her home and every buyer wants the best deal when buying a home. In the real estate market, there are certain months which are more favorable for buying, and months which are more favorable for selling.
Selling your home Most realtors will agree that the ideal time for selling your home is in Spring – this is the busiest time of year for home sales. Springtime is when many potential buyers have more money thanks to tax refund cheques, so you may get a higher price for your home.
Springtime also offers the best time to showcase your home. It is also easier to prepare your home during this season, especially when it comes to painting.
Thursday is generally regarded as the best day to list your home. This gives you time to attract buyers over the weekend.
Buying a home The ideal time to buy a home is January. You will not be facing much competition as this is not a busy time for buyers. Chances are that you may also get a better deal, as some sellers are eager to sell their home faster during this time of the year, and others may not yet have settled on a firm sale price for their home.
When do you make the offer? Plan on making an offer on the first Tuesday of the month. This is after the seller has made his/her mortgage payment and will not be looking forward to making another one next month. Some sellers may also be giving up on getting offers from potential buyers who looked at the home over the weekend.
There is no hard and fast formula that stipulates when you should buy or sell your home, but the timings just mentioned above are general rules of thumb that may give you a starting point.
Some properties will sell at any time of year – such as those aimed at first time home owners, especially condominiums and town homes.
We are leaders in constantly inventing and refining new ways, new facilities and new technologies to allow us to better serve our clients, when it comes to buying and selling homes. From our own distinctive visual identity to highly interactive and user-friendly websites, we embrace change – but never change for change’s sake.
To learn more about Virani Real Estate Advisors or to discuss a property, email us at [email protected], visit one of our offices, or call 604-913-1000.