It’s never too early to start looking ahead; most of us do it countless times a day and don’t even think about it. That said, one thing worth consciously looking ahead to is the timing of your next home sale or move. It may not be for months or even years, but just as you meet with your financial advisor on a regular basis, the largest investment most of make requires our focus and attention consistently as well. Many people will meet their financial consultants over the next few weeks to review 2015- dissecting tax implications, investment successes and failures, etc.- and setting goals for the coming year. These types of things are less commonly done with our houses, but are equally as important.
Real estate is a common cocktail party topic, seemingly because it is always top of mind. If it isn’t, I would argue that it should be; since it is, for most, where the greatest share of our money is spent. Hopefully though, the time spent thinking about your home brings a smile to your face. Whether it’s the thought of new renos, the value appreciation its experienced or the memories you make there; it’s especially likely that you have warm feelings about your home if you give it the care & attention it deserves from physical & financial perspectives alike. If either of those lenses shed a negative light on your home; then it may be time to consider alternative options be it a move or a change from owning to renting & vice-versa.
The spring market represents the pinnacle of each year in terms of the volume of homes that change hands. Often, due to the school calendar, we don’t see these transactions close until June or July; but these deals are made as early as February or March.
The saying, “the early bird gets the worm” applies as well to sellers in the spring market as it does anywhere else. They can capitalize on the largest pool of buyers with less competition than people who list later in the spring once some buyers have already found their new homes.
It’s important, then, to pre-plan for a move before you’re forced to scramble. Even if a move may only be a possibility- consulting a Realtor can give you the information to sit down and appropriately plan your next steps. Knowing your home’s current market value, expected commissions, and other costs you may incur provides both yourself and your financial team with important information in laying out the upcoming year.
If a move is absolutely in the cards, then you can use the month of January to meet with home stagers, design experts, moving professionals & more; to line up your ducks & have your home ready to look its best when the sign goes on the lawn. In the spring, with so many properties on the market, a little pre-season work can go a long way in making your home stand out and exceed buyers’ expectations. Ultimately, that is what will pave your way to a positive sale & allow you the freedom to move forward with a simultaneous purchase or other move, on time & on budget.