I saw some interesting stats the other day about a group being referred to as sidelined buyers. These are the potential home buyers who are waiting for market conditions to improve before jumping in. A survey of 1000 of these sidelined buyers was done to see what exactly they’re waiting for. While a third of them are waiting for the miracle of sub 5% interest rates (ain’t happening), another third are ready to go if rates are in the 6’s (and the remaining third want 5.5% or lower). Right now, today, rates are running in the high 6’s, so seeing some softening toward the high 5’s/low 6’s in the next twelve months is reasonable.
Also, they’re ready. 78% of them are at least somewhat prepared to buy:
This is all a way of illustrating that there’s a realistic chance that a surge of new buyers come onboard in 2025. So, if you have been what we’ll call a sidelined home SELLER (waiting for market conditions to improve before listing), things may be looking better for you.
That being said, being prepared for the market to take full advantage is key. Buyers still have options and will compare your house to others. Mercilessly. If you want to get the maximum price for your home with the least amount of headache, now is the time to start preparing. Your plan includes:
- Maintenance (the little things): What projects have you been putting off? Redoing caulk or grout, fixing scratched up floors or baseboards, doing some touch-up painting, addressing any plumbing leaks, and having your HVAC serviced are all fairly manageable and will make a difference when people are seeing your home. When buyers see small stuff that hasn’t been addressed, they wonder more about the big stuff.
- Maintenance (the bigger things): Been in your crawlspace or attic lately? When was the last time you had your roof or chimney serviced? Are your gutters and downspouts clean and working as designed? Again, these are things that buyers notice, and also things that buyers might freak out about (and even terminate a transaction over). It will always be cheaper and easier to address major maintenance items on your own terms rather than waiting until you’re in contract. Get on the calendar with contractors now for these items.
- Clean and declutter: Start getting rid of stuff now. When in doubt, throw it out. Join your community’s BuyNothing, go find the nearest Goodwill, figure out how to use Facebook Marketplace without getting scammed, get in touch with Habitat for Humanity, have a garage sale. Those are all good ways to unload stuff you don’t need (and you don’t need it, trust me). Another pro tip: go down to Home Depot or Lowe’s and get a whole bunch of medium-size moving boxes. Those never get too heavy, and they’re easy to stack. Start filling them up and put them in the garage.
- Value: While the market may be different in six months when you’re actually listed, get an idea of what the house is worth today. Realtors will provide what we call a Competitive Market Analysis (a report that compares your home to others, and makes monetary adjustments for the differences) to determine the value of your house. You can get a refreshed CMA when you’re ready to go, and as I often tell sellers determining the list price of your house is literally the last thing you have to decide before going on market.
- What’s next: You might have an idea what your plan is for where you’re going, but work on tightening that up. Figure out your needs and wants, and learn what you need to learn about the market from the buyer’s side. Assuming financing is in your future, talking to a lender now is a good idea.
Those are some general ideas for long-range planning. Once you’re in sight of your market date, there’s another list of things to be doing to get your house camera ready. It’ll probably involve buying new light bulbs.
It’s never too early to enlist a Realtor’s help with this process, as they can offer specific guidance on each of the steps above. Everybody and every house has different needs, so having an expert walk through the house with you to point out what a buyer will notice is pretty valuable. So is having someone to sit down with at the dining table to discuss the mechanics of selling and buying at the same time, and to go over any other potential head-scratchers.
The bottom line: spread out the hard work over months instead of weeks. Your sanity will thank you for it.
