Did you know that a good amount of home purchases are made in the winter months? Sure, many of the homes purchased are in the south where the climate is desirable; however, it also holds true in the north – despite the cold weather and snow. In fact, last November, pending sales were up 7.4% nationally compared with the previous year.
Some believe that December is too close to the holidays and January may be too soon after, which is why November is the ideal winter month to sell your home. So, if you’re wondering if you should put off listing your home until spring, why wait? There are many reasons – and advantages of selling your home in November.
Technology
Thanks to modern technology, nothing is holding back buyers from searching for a home. Most buyers search online, via computer, smartphone or tablet and it doesn’t matter what the temperature is outside. Buyers are instantly notified when new homes are listed, prompting them to keep searching for the home of their dreams.
Less competitive
Most homes are purchased in the spring and summer months so many people think that’s the best time to sell. With that in mind, selling in the winter months means there is a lot less competition and gives you a much greater chance to sell your home faster.
Motivated Buyers
Some buyers wait until the winter months hoping to get a better deal, but if someone is looking to buy a home in November, chances are they may need to move based on their circumstances. They may need to relocate due to a change in employment, military PCS – or it may be due to a family situation. So, if your home is listed and available, you are more likely to get a generous offer.
Year End Tax Benefits
Most Americans look for ways to save money – and buying a home before the end of the year can afford some substantial tax deductions, such as deductions for points, interest and property taxes. Additionally, buyers (notably investors) may be motivated to purchase a new home to avoid paying capital gains on the proceeds from a previous purchase within that year.
So, as you can see spring and summer isn’t necessarily the best time to sell your home – November might prove to be an even better time to sell!
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