Could choosing the best time to sell a house make you more money? For real estate investors, and homeowners choosing when to list your home can make you more money. Listing your home for sale at the right time can help you sell faster, and for more money.
Real estate investors can also list their rentals in peak season to grab higher monthly rents and have an easier time filling their spaces.
So when is the best time to sell a house? Does it make a huge difference in the closing price? What about those renting, could listing at the wrong time lose your money? For those looking to take advantage of peak seasons, listing at the right time can earn higher paychecks!
The Best Time To Sell A House
For many real estate investors, knowing which is the best month to sell a house can profit their flips! It turns out, that the hotter the weather, the hotter the sales price for flips. 30% of homes sell in the summer months, making it the perfect time to list your flip! House flippers can sell their houses for larger premiums in the late spring and summer months.
ATTOM Data Solutions announced after analyzing more than 33 million single-family home and condo sales over the past nine years when it is the best time to sell a house.
The best months to sell a home with the highest sellers premiums were:
- June 9.6%
- May 8.3%
- July 7.3%
- April 6.8%
- February 6.7%
According to the study, home sellers average premiums 9.6% percent above market value in June and 8.3% percent above in May. Not only is June the best month to sell your home. June also boasts 3 of the best days for selling a home, with the highest premiums, and higher sales prices.
The top three days to sell a home were:
- June 22nd (10.5%)
- June 21st (10.5%)
- June 29th (10.5%)
Great month for home sellers and home buyers, June not only offers the perfect time to move, with schools out, and vacation time making it easier to relocate. With longer daylight hours, making it easier to schedule viewings of flips. More companies begin to hire in spring, making it a primetime to relocate.
Late spring and summer are peak home-buying season, making it the best time to sell a house. Combined with the top money-making repairs, flips listed in the summer can sell for more money!
Top Repairs To Sell A House For More
Choosing the best time to sell a house can sell your flip for higher premiums. If you combine it with the top repairs you can even sell your flip for more money if you make the right repairs.
When you know the best time to sell a house and make the right repairs, you can see higher sales prices and bigger returns on your flips. For real estate investors using hard money loans, making the right repairs can lead to even larger paydays.
While the right repairs might change from home to home, picking crowd favorites will make your home more appealing when it is time to sell.
HGTV listed the top home updates that pay big!
- Minor Bathroom Remodel: While this repair can be costly, it boasts an average return rate of 102% at resale. Making it one of the best ROI repairs any house flipper can make before selling a home. Some musts for this update are replacing the tub, adding tile, flooring, a new toilet, sink, vanity, and fixtures.
- Landscaping: Landscaping is a must for house flippers looking to sell a house. Proper landscaping can average a 100% return rate at resale. Trimmed plants, pops of colors, and a walkway will greatly enhance your flip! These changes can make your flip picture perfect for any home buyer.
- Minor Kitchen Remodel: Any homebuyer will want a perfect kitchen! The kitchen is often referred to as the heart of the home, and is a must for any house flipper to add to a home. Adding new appliances, sink, and fixtures, countertops and flooring can average a 98.5% return at resale!
Make sure your flips don’t go over budget and get our home rehab valuator here! So when is the best time to sell a house? After making these top-earning repairs!
The Best Time To Rent
For many investors, finding the right time to sell a house isn’t the only way to see large paydays. For many who are renting, listing rentals at the peak seasons can see larger returns as well. The best time to rent can see larger monthly payments on your rentals. Real Estate Investors can find tenants easier when they list!
RentHop released a study on the best time to rent. For real estate investors, May through October showed the highest rental prices. Warmer months are the best times to list your rentals,while colder months showed the lowest rental prices.
The top findings for the survey showed:
- Peak-to-trough (most expensive month versus least expensive month) differences are between 2.0% to 4.7% for 1-bedroom apartments and 1.6% to 7.1% for 2-bedroom apartments across the top 10 metropolitan areas.
- College enrollment as a percentage of the metro population doesn’t seem to have much of an impact on rent variation. The correlation is even a slight negative at -0.23. However, the 5 cities with the highest enrolled student percentage had an average seasonal variation of 3.7% vs 3.0% for the 5 cities with the lowest student percentage.
- The weather has an impact on rental prices as well! A correlation of 0.61 between peak-to-trough temperature variations in a city and peak-trough rental price variations (average of 1 and 2 bedrooms).
Picking the best time to rent your listing can help you earn more as well. Summer and Fall months see higher inventory than other months due to turnover, but Arizona on average has a low vacancy rate. When you list in the summer the chances of your rental staying vacant are significantly lower than listing in the winter.
The best time to rent will depend on your ideal tenant, and the repairs you make to your rental. Combined, you can earn top dollar for your rental when you list at the best time to rent.
Must-Have Rental Upgrades
When you choose to list your rental, having the right repairs and upgrades will help you avoid a longer vacancy. Having an upgraded rental will make it easier to earn higher rents from tenants!
Choosing the right upgrades can depend on your location on the price range. For many tenants, the following repairs can have a huge impact on if they will rent with you
Top must-have rental upgrades are:
- Appliances: Many rentals are slow to upgrade or replace old appliances. A common compliment amongst renters is that the appliances are old, broken, and dated. Adding new sleek appliances to your rental can attract new tenants. Most appliances will need to be replaced every 8-10 years. Opt for modern and timeless appliances, such as stainless steel models.
- Countertops: Tastes in countertops can change quickly, but modern countertops will make your rental more appealing to tenants. Laminate stones are a great and cheap option for investors looking to beautify their spaces quickly. Gray and white stone options will have mass appeal among trendsetters and traditionalists alike. A countertop is a great way to unify your rental and catch a tenant’s eye within seconds of viewing your rental.
- Hard Floors: Many tenants and landlords alike love hardwood floors. Not only is it easy to maintain and upkeep, but dark floors are a trendy favorite to many. Whether stone, hardwood, or laminate, with countless options will make your rental easier to list and attractive to new buyers.
When you choose the best time to sell a house or list your rental, making the right repairs will make it easy to earn more from your investments.
For any house flipper wondering how to sell a house, choosing the right repairs, and the best month to sell your home is a great way to make more money!
Whether you choose to rent or sell your investment, summer months can see higher returns. Combined with the top repairs, summer flips see high returns and larger sales prices!
Looking to make the right upgrades for your flips and rentals? Hard money loans offer flexible, asset-based loans perfect for your investments. Learn more about our hard money loan programs here.
When real estate investing:
- The Best Time To Sell A House: Late spring and summer are the best times of year to sell a home.; For those looking to make the most money, the best time to sell a home is in June with 3 of the best days with the highest premiums.
- Top Repairs To Sell A House For More: Minor bathroom remodels, kitchen upgrade and landscaping see the highest returns for flips and homes sold.
- The Best Time To Rent: Once again, summer months are the best time to rent your listings. Winter months see the lowest rental prices, and summer shows the highest rents, especially in towns with large college populations.
- Must-Have Rental Upgrades: New appliances, countertops, and even hardwood floors can help you rent and attract more tenants. With these upgrades you can even charge higher rents for prospective tenants looking for a more modern rental.
Do you think June is the best month to sell a house?