When to Buy and when to Sell: How to Get the Most Bang for Your Buck

“It’s a buyers market!” “It’s a sellers market.” It seems that this constant battle between buying and selling changes with the wind. If you are a homeowner, or prospective homeowner, and you want to buy or sell, you might find yourself asking these important questions:

  • Is it time?
  • How will I know when it’s time?
  • What do I do next?

The truth is, you are not alone in this unknown realm of real estate. If you are considering making a move in real estate, here are some quick tips from the top real estate pros on when it’s good to buy, sell, or even lease.

Market

When Buying

According to the HGTV stars of the hit show, Property Brothers, they give their list of things to do before buying to ensure you get the most bang for your buck.

  1. Run the comps in the neighborhood. Your agent can do this quickly so you can compare home value and costs in the area you choose.
  2. Never skip the home inspection. This is super important and helps uncover large unknowns that can essentially make or break the deal, like needing a new roof or AC unit.
  3. Give yourself some wiggle room. Whatever your budget, add 10k to cover any hidden costs that may come up. Things like closing costs, moving expenses, and just about a million others things come up and you need to be prepared.
  4. Start budgeting early on. Save money wherever you can by cutting costs on things you use everyday, like cell phones, cable, groceries, etc. You will need as much cash as possible when purchasing, so starting early helps you save the right way.

When Selling

Selling is a little different of a story. Here are some quick insider tips from a top residential real estate agent pro.

  1. The best time to sell your house is in spring.
  2. The best day of the week to list your house is a Thursday.
  3. Run the comps in your own neighborhood to ensure you are getting top dollar.

Make upgrades to key areas in your home as needed to make sure buyers cannot resist, i.e. kitchen and master bedroom.

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