We get asked a lot about when the best time to buy a home is, so we’re taking the time to answer that question today.
The first thing to consider when buying a home is financing. You’ll want to take into consideration your financial situation, as well as the current interest rates, to determine when it makes the most fiscal sense to purchase.
It’s important to understand the difference between a buyer’s market and a seller’s market.
The next consideration is how the real estate market is doing. It’s important to understand the difference between a buyer’s market and a seller’s market and how far your dollar will go in each.
The final consideration is the season. Since real estate is a seasonal market, you’ll see a lot more inventory during the spring. At the same time, you’ll be competing against a bigger pool of buyers, which can drive up home prices. During the late summer and fall, you may get a better deal as there is less competition.
Since every situation is different, there’s not a “perfect time” to buy. You can, however, use these guidelines to determine the best time for your personal situation. If you have any questions for me in the meantime, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.