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Pinpointing the Best Time to Buy a Home!

For first-time home buyers, the concept of there being a “right time” to buy a property may seem alien at first, but seasoned veterans in the market know how to exploit the market’s changes and shift every deal in their favor. 

As the seasons change, the market’s inventory does so as well, meaning that the number of available homes will fluctuate throughout the year, and without any outside help, you’d be on your own in figuring these changes out. 

Thankfully, the internet is a near-infinite resource of information when it comes to just about anything, and we’ll let you in on all the details regarding the surges and drops in home values that may happen over the course of a single year. 

While it may sound intuitive, buying a property when the inventory is full isn’t so great either, as there’s much more to consider than just the property’s selling price. 

Keep reading to learn more about what you can do to get the most bang for your buck in the housing market.

Wintertime home purchases

Usually, the winter months are known for having a number of properties listed at a lower value than normal, and with high seller motivation, you’re at an advantage. 

Most listings are suspended in the holiday season, and the few that actually remain will try to capitalize on the buyers that are fixed on securing a property by springtime, and these sellers will be desperate to close a sale as soon as possible. 

However, there are even more savings past the lower prices you may run into, as real estate agents that actually offer their service in this typically slow period are much more open to negotiating on the closing costs and commission fees. 

That being said, the limited inventory does mean that you may have a harder time finding a property that actually fits your needs, and unless you’re really open-minded, it may be best to wait for more listings to appear on the market.

The housing market in the lukewarm Spring months

More often than not, the housing market tends to heat up come springtime, and with the weather slowly warming up, both the buyers and the sellers become much more eager to interact with the market. 

However, depending on how you look at this, this can be either good news or bad news for you, because while the selection may be much broader than what you’ve seen in the cold winter months, the competition will be much more present as well, so be prepared to engage in bidding wars if you absolutely want to buy a certain property. 

One major downside to buying a home during this time is that sellers price their homes much higher compared to the other seasons, leading to people dropping numerous backup offers on homes should the winner of the auction pull out of the purchase. 

Buying a property during the Summer

While it pales in comparison to spring, the housing market can be just as busy during the summer as it was only a couple of months earlier, and if you’re willing to sit it out by the end of August, you may just end up securing a good deal on the property you wanted. 

The key to purchasing a home during this time is to come in with a strong offer, and you’ll want to leave a good impression on the seller too, as they’ll be looking for someone capable of closing the deal quickly and efficiently. 

On top of this, if you were planning on selling your current home in order to finance the purchase of a new one, summertime could be your greatest opportunity to do so. 

Due to there being so many buyers on the hunt for a well-maintained property, you probably won’t have too great of a problem selling your property within a reasonable time.

Properties on sale during Fall

Finally, the fall season may not be optimal for the average home buyer, at least not if it’s their first purchase, as the prices will still be up, but due to seller motivation, you may be able to negotiate on the purchase price. 

However, the added benefit is that you won’t have much competition on most properties you’re eyeing, as most buyers have either given up or have already secured their property before the next school year began.

If you’re able to wait it out until sometime mid-October, you may just be able to get the most out of the money you were willing to invest, as desperation tends to set in for those listing their homes on the market around this time. 

Gauge the opportunities you’re presented with and do everything in your power to negotiate the price down to a value you’re comfortable giving up for the property in question.


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