Private mortgage insurance (PMI) can be an expensive requirement for your home loan, as it adds more to your monthly payment costs. This is a safeguard that your lender will take out to cover a portion of the amount you borrowed in case you default. Up Next: P.I.T.I.: Understanding The Parts Of Your Mortgage Payment […]
Selling Your Home? Consider The Fall Off-Season
It is accepted that there is a “best” time to sell your home, with the selling season generally falling in mid-March to mid-April. This time is popular because people aren’t as busy and will take the time to search for homes.
While there is a “best time” to sell your home, consider the benefits of selling in the fall off-season:
There Are More Motivated Buyers In The Fall
Buyers in the fall are more motivated to purchase a home and move in quickly, especially those buyers who held off on making an offer during the busy season, are new to the area, or a demographic such as millennials and empty-nesters.
These buyers also know that you are also eager to sell the home and will be willing to work with them to seal the deal. These buyers aren’t just shopping for homes—they are looking for a commitment.
There Is Less Competition In the Fall
Because you are selling your home in the off season there will be less competition from other sellers attempting to attract buyers to their home. This will help your home stand out to buyers and will be a powerful bargaining tool to help you close the home before the end of the year.
The Fall Offers More Time For Home Improvements
Because you are not selling your home in the busy season you have more time to do improvements on your home, be it fixing the roof, fixing drippy faucets, or refinishing those scratched hardwood floors.
You will also have time to improve the home’s curb appeal, a very important part of attracting buyers, improving your home’s worth, and making your house look like a home. Fall is also an excellent time to get into the spirit of the season and decorate with warm and homey fall themes. Just remember to keep decorations to a minimum to allow buyers to see themselves in your home.
Remember To Price The Home Right
When selling a home, be it in the fall or summer, always remember to price the home right and fairly. If it is priced higher than the market price and for more than what it is worth you will not sell. Your real estate agent will help guide your through the process of selling your home and navigating the waters.