Why is the Spring a Good Time to Sell Your Home?
Updated: 3 days ago
Are you selling your home for a new one? You can sell your house in New York any day of the week, but the high chances are that you’ll sell the property quickly when it's Spring. The Spring season comes with many activities as many people ditch their heavy clothes for lighter ones. Most people also see the season as perfect for doing what they couldn’t do during winter.
The peak season for homes may vary with your location’s climate due to fluctuating demand or bad weather. Generally, the demand for houses goes together with the economic outlook of an area. More expenditure in shops and online stores means that conspicuous consumers are also browsing the latest catalog for beach houses. Why should you aim to sell your property in the Spring season? How is the market different from other days? Here is what makes this season ideal:
Spring Attracts a Bigger Sale Price
The real estate markets tend to do well during springtime compared to other seasons, thanks to low interest rates and higher purchasing power. The Federal Reserve capped the interest rates at 2.5% and recently announces plans to maintain the same throughout 2021. Thus, the real estate industry will experience a boom in the 2021 spring season like in the previous years. If you’re planning to sell a low single-family property, then your chances are even better.
The market balance is slowly tilting to favor home buyers compared to the early years when it favored the sellers. That means getting a buyer shouldn’t be a daunting task.
Enhance Your Home’s Aesthetics During Spring
The Spring season comes with great weather for greeneries and flowers to blossom. You can mow your lawns at this time and plant more exotic shrubs to enhance the aesthetics of your property. You can also install a new lawn or expand on the new one to improve your property’s value. Another landscape remodeling tip that will give you a competitive edge over other sellers is installing outdoor landscape lighting fixtures to make the lawns functional around the clock. Doing all these changes can be pretty challenging during winters and summers.
Another aesthetic improvement during Spring can be interior changes. The warm weather allows paints to dry quickly and professional designers to work with ease. Most people hibernate during winter and go for vacations during summer. You’ll access endless renovation services during Spring.
Quality Time to Get a Head Start
Including your house in a reputable listing is one thing, but getting a successful buyer is different. So much goes on behind the scene to see a property change its ownership. Since time immemorial, springtime is always the best to sell your property. Besides buyers who contact you directly, you get access to reputable real estate agents who go the extra mile to meet all your selling needs. You can also use the same agents to hunt for another property whether you’re buying, leasing, or renting.
Generally, springtime gives you a heads start to put everything together before moving to a new neighborhood, something that can be challenging during winters.
Many Buyers at Once
Many things restrict home buyers in winters. Besides the chilly weather, there are school obligations that make buyers and sellers a bit busy to concentrate on listings. As the spring onsets, office work gets less intense, and kids are back home for holidays. This season comes with many activities that enhance the overall buying and selling experience of properties. Moreover, modern technology contributes largely to help buyers zero down to their most preferred properties in the comfort of their homes.
Spring would be a perfect time to list your property, thanks to many buyers who frequent various physical and online real estate agents. When the demand is high, prices tend to be a little bit favorable even if your home doesn’t have any exceptional aesthetics. The warm weather enhances high-quality photography to attract clients through various websites and social media pages.
Schools Are Off
Most home buyers are young families who want to give their kids a serene living environment that fosters a brighter future and prepares them for the good things life offers. Besides getting a nice-looking property, most parents have interests in school programs closer at heart than anything. No parent would want to interrupt their kids’ academic years in their current schools because they are relocating unless the circumstances don’t allow any more waiting. They would wait until the school closes and the kids are on a break.
Similarly, parents would want to finalize house buying paperwork and move in before schools reopen. This move creates ample time to settle and hunt for nearby schools. The spring season provides a perfect opportunity for such house buyers. If you list your home during this season, you’ll likely get offers from parents who are serious about buying your property, not just making empty inquiries.
Tourists Flock New York From Spring Onwards
Your next buyer doesn’t have to be a new homeowner emanating from the surrounding neighborhoods. The latest real estate trends show that most New York properties attract buyers from other regions as opposed to the earlier years. Moreover, tourists tend to have higher purchasing powers than locals because they are on a spree. Most come to New York planning to spend a few weeks but end up resettling permanently because of the irresistible property offers they receive.
It will be an excellent plan to coincide your house selling plans with the influx of tourists to your location. Accessing foreign buyers means you can dictate your prices or even get lucky to sell your property without a broker’s help. That means zero commission fees and more money into your pockets.
Real Estate Listings Are More Active
The availability of many buyers during the Spring season translates to more house sellers. Sales agents and real estate companies tend to be busier during this season. It will also help if you take advantage of the high-demand season to include your property in one of the most active listings. Properties listed in reputable listings tend to sell quicker than privately advertised homes. Any home buyer would want an experienced real estate agent with access to variety.
Moreover, there are many benefits of selling a home through a reputable real estate agency. Transacting through a broker comes with professional indemnification that shields you from unnecessary lawsuits in the future. You get to complete the paperwork and receive the money in your bank account without meeting the buyer. Other benefits include leveraging the extensive knowledge and professional network of real estate agents to enhance your selling experience. The services may include remodeling tips to increase your property’s value.
The Availability of Tax Refunds
Many factors affect an individual’s ability to purchase a new home or move to a bigger and better place, including the availability of disposable income to increase purchasing power. Most people will not touch their savings for house purchases unless they have something to top up upon. New York residents and buyers from other parts of the country will likely receive their tax refunds during Spring or towards the end of the season if they filed their taxes on time.
Tax refunds often end in luxurious purchases like cars. A planned family may choose to combine their tax returns and use them for the downpayment of their next home. The spring season makes the perfect moment to time buyers who depend on tax refunds to make significant purchases. However, it can be a gamble because not everyone gets to enjoy hefty tax returns. Some buyers may have to pay additional taxes to the federal government instead of receiving refunds. In that case, buying a new home will unlikely be a priority to them.
Moving is Easier with Warm Weather
Homebuyers like to move with all their belongings, including old household goods that can be good tools for a house remodel project. Other seasons like winter and summer may not provide a perfect time for moving. For instance, no one wants to carry furniture buried in snow and ice. Besides being a little bit heavy, you can risk damaging delicate appliances with moisture. Similarly, no one wants to walk with heavy household goods during the unbearable summer heat. The only thing that clocks in your mind during summer is vacation.
The spring season provides ample time for moving, both for you and the prospective new homeowner. The bearable weather makes it easy to carry boxes and furniture from one neighborhood to another.
The Bottom Line
Selling a home in New York can be quite a daunting task, especially if you’re doing it for the first time. Besides meeting buyers who offer lowball prices, you might also find it hard to value your property after a couple of renovations. The Krug Team is your caring partner when it comes to selling and buying properties. After selling, you’d want to resettle in a better, more serene environment offering the same or more luxurious amenities than your previous neighborhood. Reach out to us for valuation and quick listing to sell your home without much hassle. Selling a property shouldn’t be as complex as buying a new home. We got you!