Buying a home is one of the biggest purchases you’re likely to make. It’s a major commitment since you could be paying for your home for something like 30 years. That’s if you take out a traditional mortgage loan. Along with this, once you purchase a home, selling it can be costly and time-consuming, which is why it’s important to do your research before buying one. When to buy is a key component. So, when is the best time of the year to look for a new house?
Best Time of the Year to Look for a New House | Presidio
The Best Month to Buy a Home
Part of determining the best month to buy a home is figuring out what’s important to you. If cost is a major factor, and for most of us, it is, then the best time to buy a home is in January. This means that the best time of the year to look for a new house is in October, November and December. However, be sure to check the market because if homes are selling fast, then you’ll want to start looking early but increase your shopping intensity later in December and early January. That way, you’ll get the best possible deal on your home.
The Worst Time to Buy
When considering cost, May and June are the least favorable months for buyers. During these months, homes sell fast, which means that sellers don’t need to negotiate to unload their homes. If you aren’t ready to buy a home early in the year, it may be a good idea to wait until the busy season has passed. Doing so could save you thousands of dollars.
House Hunting Tips
Ultimately, the best time of the year to look for a new house will be unique to you. For instance, if this is the first time that you’re making a home purchase, then consider a closing January date to get the best price. If you’re upgrading, downsizing or just want to shake things up a little, then wait until spring or summer to have access to the most inventory. This gives you more buying options.
The Best Time of the Year to Look for a New House
Knowing the best time of the year to look for a new house will make it easier to find the home that you need and want. Home buying can feel urgent and rushed. When it does, you may wind up purchasing something that won’t make you happy. Take as much time as possible when buying a new home. Patience increases your likelihood of finding the right one. If you’re need assistance in your house buying process, please contact Presidio, we have the experience and expertise to ensure your home buying is as pleasant as possible!