What You Should Know About Timing Your Home Sale

When you are getting ready to sell your home, one of the hardest parts is figuring out when you should put it on the market. There are many different factors that go into that decision, and you want to make sure you time it correctly. 

Once you have chosen the right time to sell, it is important to follow through and move forward towards the end result you want for your home.

Consider How Long You’ve Lived There

The first thing you want to think about when timing the sale of your house is how long you have lived in your home. There can be certain tax consequences to selling your home too early, even when you otherwise wouldn’t have to face capital gains taxes. In general, you need to have lived in your home for at least two years to be able to sell it without tax problems. 

If you haven’t been in your home that long you may want to wait to sell it. However, if you are planning on buying another home immediately, you don’t have to worry about this issue as much.

Know the Best Time of Year to Sell

The real estate market fluctuates from year to year, but it also experiences fluctuations throughout the year. A home is much harder to sell late in the year. Selling in the spring or summer tends to be the best since most buyers are looking to move around that time. 

People generally don’t want to deal with the stress and trouble of moving during the coldest parts of the year. If you are considering selling your home in the winter, you may want to make adjustments to your plan so you can sell at a better time.

Consider Your Plans

Your goals for the sale of your house and your plans for your future will often have a major impact on when you can sell your house. If you need to move soon, it is important to get your house on the market, even if it isn’t the ideal time of year. Many people need to move on a deadline because of work or school, or other obligations, and in those cases, you want to prioritize your plans over the general rules of thumb for selling your house. 

That way, you can make sure that your needs will be met throughout your time selling your home and after. The timing of selling a home can be difficult to navigate. But it is important to make sure that you are considering all the factors involved in selling your house. 

Everyone has different needs and priorities, so you just want to choose something that makes sense for what you need.

Did you enjoy reading this article? Here’s more to read. Should I Sell My House This Year?

 

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