Most of us don’t have the luxury of waiting until that perfect moment to swoop in and snag the best deal on our next dream home. However, that doesn’t mean that with a little insight you can’t stack the odds in favor of getting a great deal. So, when is the right time to buy a home?
June is in the middle of high season, a time when there are the most homes on the market and houses are selling the fastest. This time of year you will have the best selection, but you will have little or no room to negotiate. In fact, the opposite is likely to occur. Multiple buyers will get involved in bidding wars which will raise the price of the house you had your heart set on. Because of this, if you are trying to get the best deal possible on a house, then it is best to avoid the spring and early summer all together.
The good news is that as winter and the holidays approach, as a buyer you can land a great deal on a home. This is because not very many people are out shopping for homes during this time of year. Often times sellers are put in the tight spot of being required to move unexpectedly and need to price the home to sell quickly. The day after Christmas is often singled out as the best day of the year to buy a house since sellers are eager to make a deal and willing to give discounts. Though there are deals to be had around the holidays, it’s difficult for most buyers to take advantage simply because of the nature of the season. The supply of homes is also very thin around this time so finding the home that is right for you is going to be hard.
This leaves us with a window of time overlapping summer and fall. By the numbers, the best time to buy a house is in the late summer or fall. This is because spring and summer are the busiest times of year for real estate which means prices go up from the increase in competition. Shopping at the tail end of high season still gives you plenty of homes to look at, but sellers are getting anxious to sell. They don’t want their home to be left on the market as winter approaches, driving away the pool of potential buyers. This leaves you with the highest value when home shopping, providing plenty of choices at good prices.
Timing for purchasing a home is affected by the seasons. Weather and school play a major role in determining when is the best time to move, which is why spring and summer become such busy times of year for real estate. Timing matters because you want to take advantage of the basic principles of supply and demand in the market. For example, with the flood of homes on the market in spring you may be able to find the perfect home in the perfect location. However, you will have to pay the highest price for it. On the other hand, you could get a steal on a house in the middle of winter, but with the limited selection of homes on the market you will more than likely have to make some compromises when it comes to the features you wanted. Good timing adds value to your purchase by essentially getting you the best of both situations: A great home at a reasonable price.
If you need to sell your home fast, but are afraid that the coming of winter will hurt the sale price of the house, we have a solution for you. Sell to an all-cash buyer! We are Gulf State Homebuyers and we buy homes for all cash at very competitive rates. This is because you get to skip the time and money it takes to repair, upgrade, and market the home for sale. We buy your home as-is, and we buy homes in all conditions, even if they have been damaged by a fire, flood, storms, or other natural disasters. Simply contact us for a free appraisal and we make you an offer the same day. Remember though, this is a no obligation appraisal, meaning you can take it or leave it with no worries. It’s that simple! Don’t worry about what time is the best time, contact us today and be ready to snag the home of your dreams at one of the best times of the year!