1. As a lot of you know, the spring market in Lafayette real estate is usually one of the busiest times of the year. However that doesn't mean it's the right time to list to get the most out of your home.
If you wait until April or May to put your home on the market you'll probably have more competition with other homes that compare to yours.
2. More competition means you might get less out of your home than expected. Say you have a 3 bedroom 2 bath with 1500 square feet and are listed at $135,000. Two of your neighbors down the street with the same floor plan decide to sell and are listed at $125,000 and $130,000.
Unless you've made some upgrades or have a better lot it is likely yours will be the last to sell.
3. If you are holding out for the price you want and are competing with your neighbors that have a lower list price, that will likely effect your days on market.
The longer your home sits on the market the more a buyer might wonder if something is wrong with it.
4. You should have less competition if you list before spring. Less competition a lot of times means a better sale price.
Say a buyer loves your neighborhood but there's very few homes for sale. They'll probably pay closer to what you're asking since there aren't other options.
5. If you list your home in January and and it sells in early spring or before then you'll be a buyer when there's more homes available. So if there's more homes available as I mentioned earlier, you should be able to buy at a lower price.
Ever heard of buy low sell high? Listing your home in January or February could help you achieve that.
For more tips check out some of our other real estate topics.
Kirby Parker has lived in West Lafayette since 2001 and has been selling residential real estate at Keller Williams Realty for the last 12 years.