When Is The Best Time To Buy A House

You have your down payment ready to go, your credit report is in good shape, you’ve found a real estate agent, and your have a mortgage application ready to go. Despite all this preparation, you may find yourself wondering, is now the best time to buy?

The right time to buy a house is an important question. Your ability to buy a house that you love at the right price isn’t just affected by your own finances. It’s also affected by the real estate market at large. 

The season, month, and even day that you buy can impact many parts of the process of buying a home, including the amount of choice that you have and the price you end up paying. 

Best Time Of Year

Real estate markets are more seasonal than you might think, which means there are ups and downs throughout the year. 

Summer tends to be the peak time for the home buying market, and winter is often slower. This makes sense. In Summer, children are in between school years, so moving won’t disrupt them as much. The weather is also better, so moving is easier without worrying about your belongings being damaged by rain as they’re unloaded from the moving van. 

Spring and Summer

The market is more active in the spring and summer, so you will have more choice of homes. However, there will also many other buyers also looking for a new home at this time of year. 

If you’re looking for properties in popular areas or that sought after features, then expect a lot of competition to get the house you want. High-end neighborhoods and downtown areas usually have the most competition. Get ideas for other areas with less competition from real estate sites like The Lifestyle Collection website. 

Winter

There are fewer homes on the market during the winter, but the homes that are being sold often offer more potential cost-saving opportunities if you’re savvy about buying your home. 

Shopping for a home in the winter can be ideal for two reasons. 

There are fewer shoppers looking for a new home, so you will have less competition for the property you want. There won’t be other buyers driving up the price, and sellers know thar there they will attract fewer potential buyers. This means they may be more open to accepting a lower offer or adding something else to the deal, like a more generous contingency period. 

Buyers who choose to sell a property during the winter are also likely to be more driven sellers, so they will be more likely to accept your offer and move out quickly, so you can get in your new home much sooner.

Most people don’t sell in winter unless they have to, so you have the upper hand when it comes to negotiation. 

The best time to buy will depend on your local real estate market and your own goals for buying a house. Do your research, and check prices and property availability throughout the year.