So, you have made up your mind to buy your first home or get a new place for your family.
Buying a new home can be daunting, yet exciting, and a couple of things will come into consideration—your budget, preference, and market conditions, for example.
The most critical game-changer is the timing of the transaction, though. Areas have different trends due to the weather patterns, for example, but these are the best times to look for a new house:
Spring or Summer
During spring and summer, the weather is pleasant. Most home buyers are working tirelessly to secure a place while it is still warm and uncomplicated to relocate.
Parents are also preparing to move out before schools open, and listings for new homes are likely to go up in February and March.
The strong demand and supply trends give you plenty of options as a home buyer. Competition is stiff, though, and you will most likely have to buy at the listing price. The room for negotiations will be limited, especially on the approach to the peak season in June.
By August, most of the buyers have already secured a new home. Few people will be left in the market, so if your dream home is still available, the owner will be more open to negotiations.
You may even realize that the owner has included a discount to attract a quick buyer. The aim here is to get the house off the market before winter. Low demand means that prices will drop drastically, and you can buy within your preferred price range.
Winter is off-season in real estate.
Nobody wants to leave the house on sale during the cold season, and few sellers are listing homes during unless there is a pressing need, such as an impending relocation for work.
The other listings did not sell during summer, and these owners are no longer looking for a profit so much as a willing buyer. Such sellers are working with a timeframe, and do not mind giving discounts as long as they secure a buyer.
Most buyers do most of the search online rather than leave the comfort of their warm living rooms. If you are looking for cheap house deals, winter is the time to buy. Sellers forego a lot of interest because the competition has eased.
Few people will be moving from one home to another during the holiday season. Everyone is in a celebratory mood, preparing the home to receive guests during the festive season.
If anybody is selling, the price is likely to be attractive. Moving into a new house during the holidays can be hectic, and any home offers in the market are worth checking. Thanksgiving to Christmas season is a great time to buy if you live in a mild region, where the weather does not influence supply and demand as heavily.
While finding a good realtor can be stressful and intimidating, finding the right home at the right price is rewarding. Team Couch will ensure a seamless home-buying process, no matter the season, so contact us today.