If you were to ask a real estate agent about the best time to buy a home, they would probably tell you “right now.” After all, prices are about to go up, so you should act while homes are still relatively affordable. A good salesperson might be able to make that sound convincing, but the truth is that prices are always “about to go up,” so you cannot always trust that notion. Instead of simply asking a real estate agent who wants to make a sale, consider some of these tips about when you should be purchasing a home.
Buy In December
If you want to buy a home at a lower price, December is probably the best time to do so. It’s close to the holiday season, so people are often too busy to worry about buying a new home. Sellers tend to leave the market in droves during this time, so anybody who lists a home for sale close to Christmas will be highly motivated to make a sale. You might be able to take advantage of that and buy a great home at a reasonable price.
Buy When There are Plenty of Options
If you want more options when shopping for a new home, you might want to shop around during the late spring and early summer. This is the “traditional” time for people to buy new homes, so you’ll most likely find more listings in your area. Families are looking to purchase a new home close to a good school in the area, and more people will be willing to sell since there will be more buyers. The only problem with this strategy is that prices will most likely be higher during this time, but if you’re willing to pay a little bit more, you might end up with a home that is more to you and your family’s liking.
Always Do Plenty of Research
Even though the rule of lower prices in the winter and more options in the spring and summer usually applies to most markets, you still need to do some market research on your own in your neighborhood. Look into pricing trends, when homes have been available before, the amount of time it takes for homes near you to sell, and anything else that might influence your decision to buy a home. Things can change quickly from one market to the next, so always take some time to do your homework if you want to make the best decision possible for your new home.