The spring housing market is generally considered the best time to sell a house in the US. Despite the effects of the coronavirus pandemic, it is still expected that there will be a high demand for real estate in the months of April, May, and June 2020.
Why Is Spring the Best Time to Sell a House?
Here are some of the reasons why the spring real estate market is the best time to sell your investment property or home:
- Convenient for buyers – Most property buyers want to acquire a new home and settle down before a new school year begins. Even people that don’t have children find spring to be a more convenient time for moving.
- Better curb appeal – Your yard, balcony, porch, deck, and patio will look more appealing in the bright spring weather. This curb appeal will help you attract more buyers in spring than at any other time of the year.
- Great weather – No one wants to look for a home when it is snowy and freezing, or when it is sweltering hot. The friendly weather of spring entices buyers to start going out to look at the housing inventory.
- Higher prices – Multiple offers from buyers in the spring results in bidding wars. As a result, you can typically sell your property for a relatively higher price.
Related: How to Get Multiple Offers on a House
How to Sell Your House in the Spring: 6 Tips
As a property owner, you must know how to sell your house in the spring in order to make the best return on investment. Here are some spring real estate tips to consider:
1. Make pre-inspection repairs
You can only set a high asking price if your home is well maintained. If a home inspection reveals that your property needs lots of repairs, potential buyers are likely to walk away. So before selling your home in the spring, be sure to take care of all the important repairs. Here are some of the main things you need to focus on:
- HVAC
- Plumbing
- Electrical
- Structure and foundation
- Roofing
- Presence of mold and mildews
Related: Property Improvement: 5 Waste Materials to Recycle for Money
2. Clear the clutter
Home staging is very important when selling a house in the spring market. You will want to make your property as appealing as possible to potential buyers. One of the things you need to do when staging your home is clearing the clutter. Nothing puts off potential buyers more than a property with clutter all over the place.
Here are some spring real estate tips for de-cluttering your home:
- Entryway – This is usually the first area potential buyers see. Remove all the shoes, umbrellas, and coats.
- Furniture – Be sure to minimize the pieces of furniture in the home. This will make your rooms appear more spacious.
- Bedrooms – Shoes and clothes should be put away and beds made.
- Kitchen – Remove everything from the countertops except important equipment like blenders and toasters. Make sure everything else is arranged neatly on the shelves.
- Closets, nightstands, cabinets – Remove unnecessary items such as tissues, medications, cosmetics, etc. Closets should not be stuffed with too many things.
There are different ways to get rid of clutter in your home. You can throw it away, sell items online, or host a garage sale.
3. Remove personalization
The idea of home staging is to help potential buyers visualize themselves living in the property. This is why it is important to de-personalize your home. You can focus on areas such as:
- Collections – Things such as figurines, books, artworks, and cultural artifacts might only put off potential buyers.
- Personal effects – Be sure to put away family photos, trophies, and certificates. In the bathroom, remove all the deodorants, razors, and other personal items.
- Wall color – According to color psychology, every color has a certain effect on people. You might have to repaint your walls using a neutral color.
4. Spruce up the exterior
The exterior of your property can make or break your efforts of selling a house in the spring. Therefore, one of the most effective spring real estate tips for grabbing the attention of buyers is to improve your curb appeal. Cut the grass, weed flower beds, trim shrubs, and throw away garbage and leaves. Planting more flowers in your yard can greatly boost your curb appeal in the spring as well.
A new paint job on your front door, porch, or patio can also make a huge difference. You could even hang a wreath on the front door and add potted plants on the walkway.
Related: How to Add Value to Your Home with an Exterior Makeover
5. Conduct a comparative market analysis (CMA)
Proper pricing is one of the most important spring real estate tips. Before selling a house in the spring, you must ensure that the price of your home is a good fit for the neighborhood where it is located. Comparative market analysis involves evaluating prices at which comparable or similar homes in the neighborhood were sold. Properties that are used for a comparative market analysis should be of similar age and should have the same number of bedrooms and bathrooms. In addition, they should have similar features such as a pool or guest house.
Real estate agents conduct a CMA for sellers to help them decide what price to list. But you can also conduct one on your own.
6. List your property for sale on multiple channels
Listing your home for sale on multiple channels will make it easier for potential buyers to find it. Try listing on the MLS if you’re working with a real estate agent and ask him/her what other channels are typically used in addition to the MLS.
Consider other real estate websites as well. One of the best places for real estate marketing is on the Mashvisor Property Marketplace. You will get your property listed for free and reach thousands of agents and real estate investors who are ready to buy. When buyers visit the Marketplace, they will be able to analyze the investment potential of your property based on metrics such as cap rate, occupancy rate, cash flow, and cash on cash return.
Besides getting your home on property listing sites, consider placing real estate ads on social media, as well as offline platforms such as newspapers.
Conclusion
If you have a property for sale, be sure to take advantage of the spring seller’s market. With a good strategy for selling a house in the spring, you will reduce your days on market and earn a high return on investment.