by Jeff Glover
on Tuesday, April 3rd, 2018 at 5:01pm.
If your family is growing and your business is booming, you may be considering moving to a bigger home. Upgrading to a bigger home is the best way to obtain the extra space you need for the children you are adding to your family, and winter is a great time to sell your current home and get started on the upgrading process. Here are a few reasons why.
Houses Valuations Are Better Just After Summer
Statistically, more homes are listed and sold in the summer months, which means fewer homes sell in the winter months, but there is one key benefit of putting a house up for sale in the winter. The prices of homes sold in the summer is typically higher than the price of those sold in the winter; however, this can actually be a benefit for you as you try to sell the current house you are in.
If home prices are high in the summer, the price of your home might actually be higher if you list it in the winter. Appraisers base home values on recent sales. When you list your home in the winter, the appraiser will be basing the value of your home on the sales that took place during the summer months.
The result of this is a higher value on your home. Had you waited for spring, the appraiser’s value would be based on the sales of homes in the winter months. This likely would result in a lower value on your home.
With a higher valuation of your home, there is a good chance you will reap a higher price for the house.
Winter Buyers Are Motivated
You’re probably wondering why houses even sell in the winter. After all, winter is not the most convenient time to move; however, houses sell in the winter for a totally different reason.
People that purchase homes in the winter do so because they have to. Often, the reason is due to a relocation.
In other cases, people might be buying in the winter due to selling their homes in the fall. It often takes a month or two to close on a house. If a person sells in the fall, that person would probably close on the deal by November or December and would then be ready to buy.
The point of this is that people buying in the winter, for whatever reason, need homes. These buyers are motivated. They are ready. They not only want to buy a house, they actually need to buy a house. If your house is listed with a good realtor that gets the word out about your home, these buyers might come to see it and end up in a bidding war for it. This is how winter sales of homes often operate.
This Puts You in Place to Purchase a New Home in the Spring
If you take the right steps to stage your home, set the right price, and hire a realtor that is aggressive and competent, you should have no problems selling your home in the winter. A winter sale of your home will put you in a position to be ready to purchase a new home in the spring, and buying a house in the spring is one of the best times to buy.
Because house valuations are based on current sales, the houses for sale in the spring might be listed for slightly lower prices. This puts you, the buyer, in the perfect position to sell your house for the best price and buy a house for a potentially discounted price.
By spring, the snow on the Michigan ground is generally gone and the air is beginning to warm up, and this makes it the perfect chance for you to upgrade to that new home you really want and need.