By, Lisa Roberts
Selling your house in spring may get you the best profit, but you must be aware of some downsides of selling in this season as well.
Even though there are eager buyers available in every season, spring and summer are considered the best seasons for sellers, and it's easy to understand why. It's all about new beginnings and longer days with fabulous sunshine, which might trigger potential buyers to start looking for a new home. Putting your home on the market in the spring months is an excellent opportunity to get the biggest return on your real estate investment. Of course, each season comes with some pros and cons, and here we'll focus on the pros and cons of selling your house in spring.
Spring is the peak home-selling season since the inventory of homes for sale is at its highest, and the buyer pool is at its largest. The weather is warming up, and the school year is coming to an end, so families with school-age kids start their search. It's good to know all the pros of selling your house in spring before you list it.
Homes sell faster and for more money
Since buyers are flooding the market and looking for their new abode, there's a greater chance that your home will be caught up in a bidding war. That's great for the sellers as it increases your chances of getting top dollar. As buyers offer better and better deals, you can make an evaluation and eventually choose the best (the safest and the fastest) deal. Buyers who urgently need to move in may even come with a cash deposit which is also great for sellers.
Better curb appeal
Spring comes with lush grass, foliage returned to trees, and stunning blooming flowers, which all mean enhanced curb appeal. Those who admire a beautiful garden full of color can clearly see if it was maintained well and your property at its best. Buyers can get a much better impression than they'd get in another season when everything may look dry and sparse. Nice weather also allows important features to stand out, such as your patio, decks, fountains, pools, gazebo, large windows, etc.
It’s easier to stage your home
Before putting your home on the market, there are many things to do if you want to stage it and increase your home's value. Many of those things are easier to do in the spring months when it's not too hot or too cold outside. Some things that should be on your list when staging the home are:
- Tidying up your front yard
- Removing any clutter from your backyard
- Pruning the trees
- Cleaning the gutters
- Painting the fence, etc.
With sunshine and moderate temperature, it’s much easier to accomplish all of those.
Better closing date and moving date
Those who sell their home in spring are able to move when the weather is warmer and more conducive. There's no risk of freezing or overheating. Kids are out of school and when it comes to choosing the moving date, there’s a big chance that the weather will be decent. Nobody likes to fight snow, ice, and cold temperature when moving to a new home.
You can be picky
Some sellers have a hard time with the idea of someone else living in their home. Hence, they tend to be pickier. Selling your house in spring means having more control over who will live there. When there are many buyers to choose from, there is a better chance to find the one you know will probably treat your home like you would, with love and care.
Caption: In spring, you may have many buyers interested in your home.
There’s more competition
Even though the buyer pool is more extensive in spring, so is the competition, so the market can be saturated. This is often the busiest selling season, so you need to be prepared for some tough competition. That means putting in the extra effort to make sure your house stands above the rest. You need to arrange for all required repairs and ensure everything is properly maintained. Staging your house in the best possible light is crucial for winning over the competition. Whether you choose to update your kitchen and bathroom or to re-landscape your yard, it's essential to find the right way to increase your home's appeal before listing it.
Buyers are also picky
If there are many houses on the market in your neighborhood, potential buyers will have more options so they may be pickier as well. They aren’t just looking at your home, but they’re considering other options as well until they find the best deal.
Buying a new house for yourself at the same time may be pricey
If you're buying and selling a home at the same time, keep in mind that home prices are usually higher during the spring months, and it may be tricky to find a good deal.
Real estate agents are extra busy
Since there's more competition during the spring, your real estate agent will probably have plenty of other listings and be extra busy. They may have multiple open houses on the weekends and numerous showings for different listings. However, you need to ensure that your home gets the attention it deserves and is prioritized if needed.
School may still be in session
Moving with kids during the school year is very complex. Depending on which month you’re moving from your former home, you have to plan all logistics around the school schedule. Moving can be disruptive to learning, and changing schools during the school year is even more challenging. To avoid all these worries, list your home at the very end of spring or the beginning of summer.
Hiring professional movers may be more expensive
When more people are moving, it means an increased demand for movers and their increased rates. As spring and early summer are the most popular seasons to relocate, movers may be slightly more expensive than usual. Finding an ideal moving date during these months may be more challenging since their calendars can get booked very fast. However, if you choose the right service and hire them in advance, there's a better chance to fetch a reasonable price and get the desired moving date.
All in all
Spring is the time when homebuyers are ready for a significant life change, prepared to make a big purchase, and ready to have a fresh start. They are also eager to act quickly. Considering all pros and cons of selling your house in spring will help you decide when it's the best time to list it.