Questions for the Potential Seller in the Greater Waterbury CT Area: When Should I List My Home?
If you are a potential seller in the Greater Waterbury, CT area (that would be Waterbury and the surrounding towns of Watertown, Plymouth, Wolcott, Prospect, Naugatuck, Middlebury and Southbury), then the question of when should I list my home is one of the most important questions that you can ask yourself before you actually put your home on the market.
The question of when should I list my home is very much dependent on the question why am I selling my home?
Just as buyers have specific needs and wants that drive them to buy a home, you as potential sellers also have specific needs and wants that compel you to put your home on the market for sale. And just as needs always trumps wants as motivating factors for why people want to buy a home, the need to sell always trumps the want to sell.
The potential seller who has a time element attached to their need to sell is the most motivated seller that we as Realtors meet. Whether it is an impending foreclosure, job/military relocation, or any number of life changing events that require you to divest yourself of your most important possession, the key to answering the question of when should I list my home depends on how much time you have between now and your scheduled move. Your answer for when should I list my home, along with your answers to what price should I list my home at, and how can I prepare my home to be sold, will be the deciding factors that determine if your house will actually sell, no matter what market we are in.
But what if I don’t need to sell, but still want to sell my home?
There are several scenarios which can conceivably create the desire to sell a home – financial distress, desire to downsize, burden of home maintenance, divorce, among other things – that make selling your home at any time seem like a worthwhile proposition. However, there are some issues that you should consider first before listing your home (and some of these also apply to need to sell sellers, as well):
§Condition. Is your home ready for sale right now? Your home being ready for sale typically includes maintaining the outside of your home for maximum curb appeal, and addressing any needed repairs inside the home. If you do not need to sell, then you can use the time before you actually put your home on the market to start and complete any major upgrades or renovations/repairs. This aspect will be discussed more fully in Part III: How Can I Prepare My Home For Sale?
§The Value of Your Home. The market determines what price your house will sell for, and a Realtor will inform you of that fact. The fact is, need to sell sellers are more willing to list at the correct price than want to sell sellers. Are you willing to let your home sit on the market with possibly no activity, and require a price reduction? This aspect will be discussed more fully in Part II: What Price Should I List My Home At?
§Selling seasons. Typically, the majority of sellers anticipates a rush of buyers during the spring and summer months, and so they list their homes for sale in March-April. The problem with following this mentality is that you now have more competition for buyers’ attention to deal with. In the buyer’s market that we are in today, that can absolutely be detrimental to your chances of selling your home.
The bottom line for you as a potential seller in deciding when to list your home for sale is that if you must sell your home, then time is of the essence for you to do what it takes to make sure that your home can be sold in the least amount of time for the most amount of money. The Realtor of your choice will (or at least should) give you guidance on what things need to be done to ensure the outcome that you desire.
If you do not need to sell your home, it would be advisable to wait until it becomes necessary for you to sell. You will be able to place your home on the market when there is considerably less competition, and you will have used the intervening time to help prepare your home for its eventual sale. However, the choice is, of course, up to you whether to list your home as for sale.
Next in the Questions for the Potential Seller in the Greater Waterbury, CT Area Series: What price should I list my home at?
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