Pros and Cons of Selling Your Home During the Month of November

Pros and Cons of Selling Your Home During the Month of November

Many homeowners believe that waiting for the new year or the springtime is a better time to sell a home. This is not entirely true. The month of November could be a great month to sell your home at a price that is attractive. Here are three reasons why you should put your house on the market during November.

Less Competition

Many home sellers get nervous about putting their house on the market during the winter months. They may worry that listing their home in November, December, January, and February is not worth it and is a waste of time and money because there are fewer people shopping for homes. Home sellers worry that buyers will not schedule showers and there will be no turnout at open houses.

Real estate agents can reassure November sellers by telling them that there are always people looking for homes no matter what season it is. More importantly, if you are selling during November, there will be less competition with less homes on the market. When inventory is low, it is easier to catch the eye of prospective buyers and can speed up the home sale process.

Buyers are Motivated

If homebuyers are out shopping for a house in November, chances are that they are highly motivated and ready to buy. In most cases, buyers during this time have a reason for moving including a timely life event, recent job relocation, or free time to shop before the new year begins. Buyers during November are motivated due to the prices of homes and the inventory that is available. During the winter months, sellers normally price their home to sell, which gives buyers the opportunity to buy a home at a better price. Fall is prime time for serious buyers who want the best deal and sellers who want to sell fast.

Year-end Tax Breaks

Homes that are purchased during November may come with tax breaks including deductions for points, interest, and property taxes. Your real estate agent can inform you of all the possible tax breaks and deductions that are available when buying and selling a home in November. Once buyers talk to their agent, they will realize that the summer months are not always the best time to buy and sell. November can be the ideal time to sell your home, especially if you have an agent who is experienced in selling homes during this month.

If you do decide to sell your home during the winter months, always remember to:

• Protect your flooring during showings – potential buyers may drag snow through your house. If you do not normally use rugs, consider purchasing some inexpensive ones for high traffic areas in your house.
• Decorate for the holidays – keep your decorations neutral and tasteful that will make your home feel inviting.
• Put on the heat – during the colder months, make sure your home is warm while potential buyers walk through your home.

Looking to buy a home and do not know where to start? Contact AnnieMac Home Mortgage today to learn more about the mortgage process and how to get started.