Homeowners sometimes are confused about when to put up their home on the market for sale. To deny the importance of timing in relation to sale can make the home selling process very stressful which brings us back to the big elephant in the room which is TIME. It is quite important to observe changes in your environment directly impacted by seasonal variations. In Nigeria, there is the rainy season and the harmattan season. Changes in the environment like flood will most definitely impact negatively on properties in the environment.
Often times new homeowners rush and put up their property for sale because of information about price hike on the real estate market. Do not rush the process. If you do not prepare your house before putting it up for sale then the tendency that your house will stay longer on the market is higher which in turn will indirectly lead the homeowner to reduce the asking price for the property.Trying to manage the situation of having your property to stay on the market for a long period will cost you more money and time. Instead of the scenario of medicine after death, why not clean, organize, redecorate and fix up your house before putting your home up for sale? The benefits of revamping the whole house are that the house sells itself because it’s appealing and let’s not forget the first impression may lead a potential buyer to purchase or not buy your house.
Festive period like Christmas or new year is usually accustomed to a lot of excitement but if you are considering putting your house on the market at one of the festive seasons, it is quite advisable to wait a while so you can enter the real estate market when you are going to get the maximum amount of attention from potential buyers because the market tends to be flooded with many buyers during the festive period. More attention to your house means selling your home soon and gives you the power to increase your asking price as the seller because you have a larger pool of potential buyers but on the flip side the lower the attention the higher the probability your home stays longer or you may be forced as the seller to reduce your asking price due to other competition.
Most potential buyers will be in form of singles, young couples, parents, older couples or single parents. Young couples and singles often begin their home search very early in the year maybe they have spent the holidays too at home with their relatives and realized it’s time to move out. Parents or single parent tend to buy at school term period because potential buyers with children don’t usually like to go for house inspection during the holidays with their children because it is very stressful. Hence, parents tend to wait until the children are in school, so they can view the house in peace. Older people don’t want to venture out to look at homes in the rain or harmattan which means these buyers tends to look at fewer properties especially when the weather is a bit warm and make up their minds up more quickly.
In reality, there is no fixed best time to sell your home. The best time to sell your house is based on the location and the readiness of the homeowner to sell the property. Talking with an experienced agent who knows your market might help you decide what’s right for you as a homeowner.