Though there is always a rush to buy and sell homes during the summertime, but there can be advantages to selling your home after school starts. If your home is ready to go on the market, and you understand your potential buyer, there is a chance you could get a good return on your investment.
Prepare for the Market
As always, before putting a house up for sale, you want to make sure that you have done everything you can to prepare it for the market. This can include painting, updating older fixtures and making sure your home has good curb appeal. It is always recommended that you speak with your realtor before making any updates or upgrades to make sure you are only spending money on items that will offer a return on your investment.
Oftentimes, those who purchase homes after school starts are motivated buyers. They chose to wait until after the summer-rush to buy their home, and now they are ready to get the process started. It is not uncommon for first-time home buyers to buy during this time period either, as they often don’t have children and are not bound by the academic calendar.
If your home is in a suburb, in a good school district, chances are your listing price might be lower than it could have been during the summertime, but not by much. However, if your home is in a downtown-area, your listing price will most likely remain consistent throughout the year. But for this specific market, one of the best ways to sell your house is to know your buyer.
Selling to Motivated Buyers
While summertime is busy in the real estate world, there are also buyers looking to purchase homes after school starts. Though these buyers are not pressured to purchase homes before the school year begins, they can still be motivated for a number of reasons.
If the buyer has procrastinated on purchasing a home all summer-long, they could be anxious to finally buy a home. This is good news for you, as the seller, because the buyer won’t want to waste time in the purchasing process. The buyer’s first offer could be respectable to your listing price, as they are serious about purchasing the house. Of course, it is always in your best interest to ensure you choose a listing agent who is experienced in the market & will negotiate for your maximum benefit.
Because there are fewer buyers in the market during this period of the year, there is less competition in the market. While this can sound like bad news for you as the seller, it doesn’t necessarily have to be. Those who buy during the summertime have a lot competition between other buyers, so they might be motivated to make an offer on a house that they only like. However, because the market slows down after school starts, there is the possibility that the buyer is making an offer on your home because they love it and can’t imagine living elsewhere. For this reason, it is crucial that you showcase the features of your home appropriately & market it in as flattering a way as possible.
If an offer on your house is made, and it is too low, you can discuss with your agent to negotiate, of course, but you also have other options. For instance, if the buyer feels as if your house is listed too high, you may offer to update old appliances or contribute to closing costs instead of lowering the overall price. While buyers are as motivated as you are, this doesn’t mean you have to sacrifice your return on investment. Again, having an experienced & reputable listing agent working for you can put any doubt out of your mind.
If you have more questions about selling your home in the Dallas and Fort Worth areas after school starts, fill out the form to the right or call us at (972) 992-1471 to schedule an appointment today.