Anytime is a good time to buy a home. Sure, some people might try to convince you that one season is better than the others, but it’s not true. There are pros and cons to buying a home in any season. So, when is the best time to purchase a home? The answer is simple, when you’re ready, able, and willing to buy. Here are some Summer, Fall, Winter, and Spring home buying tips.
Summer is a great time to buy a home if you have children and are considering moving to a new school district. By purchasing and moving during the Summer break, you can minimize the interruption to your children’s lives. It’s also easier to involve the kids in selecting a home because they are usually out of school and able to tag along more smoothly. The downside to buying in the Summer is that it tends to be the busiest season for real estate, so there is more competition, which could drive up prices.
The best month to snag a great deal when buying a home is October, based on RealtyTrac’s analysis of more than 32 million home sales over a period of 15 years. The research data showed that, on average, October buyers paid 2.6% below estimated market value. For a house that would normally cost $300,000, a 2.6% discount translates into a $7,800!
Winter is an excellent time to purchase a home because you usually see it during it’s worst conditions. If there’s going to be standing water in the crawlspace, you’ll probably find it in the Winter. If the gutters leak, you wouldn’t know it if you viewed the home during a hot, dry Summer. Those gorgeous trees you in the Summer might make a massive mess in late Fall or Winter, so if these things concern you, Fall might be the best time for you to buy a home.
There tends to be a lot of new homes hitting the market in the Springtime. The reason is that often, people wait until after the holidays or tax season to sell. Sellers might also be trying to get a jump on the busy Summer season. Often the number of available homes on the market increases in the Spring. That will give you more options when looking for your ideal home.
The most important thing to consider when trying to decide when to purchase a home is your unique needs. When is a convenient time for you and your family? Are you ready, able, and willing to buy? Have you cleaned up your credit and saved money? Waiting until the time is right for you and your family can prevent a lot of potential hassles and issues. So, it doesn’t matter when other people think the timing is right. What matters most is when it’s right for you. When you’re ready to move forward, contact Primary Residential Mortgage. We’ll make the process as hassle-free as possible and guide you every step of the way.
Note: Opinions expressed are solely my own and do not express the views of my employer