When Is the Best Time To Buy A Home?
Homebuyers often ask the question, "when is the best time to buy a
home?" Here's the best answer we can conjure up. When you need to buy a home! That's
right. If your present home is bursting at the seams and you've obviously outgrown it, now
is the time to put up the for sale sign and begin the hunt for a new one. If your wacky
neighbor is driving you nuts, why wait. Get on with it! If you've been transferred to
another market, now is the time to sell and buy. It really is that simple.
Real estate values really aren't seasonal in nature. Rather, the price of homes will be
affected by current market conditions, more than anything else. There is a belief that is
held by many buyers that spring is the best time to sell. Buyers know that many sellers
list their homes for sale in the spring months. Yes, there are likely many more homes
available to view in the spring months. But guess what! Many other buyers are thinking the
same way. That means that there are also more buyers available to look at those homes.
More competition amongst buyers can often mean higher selling prices.
If you are in a position where you must purchase a home in the dead of winter, you'll
undoubtedly find that there are fewer homes to choose from. On the other hand, there will
likely be fewer buyers vying for the homes that are available.
The simple fact that many buyers and sellers feel that spring is the best time, is an
indication of a flaw in this philosophy. Can it really be the best time to buy and sell,
at the same time? Is there some kind of magic balance that comes into play during April,
May and June that adds a measure of fairness to the real estate market?
Timing the purchase and sale of real estate is every bit as difficult as timing the
purchase and sale of stocks. For most people, it's impossible to know for sure when is the
best time to buy or sell.
Buy your home when it makes the most sense to do so. Winter, spring, summer or fall. It's
a very unique market indeed when a few months time will make a difference that's really
worth worrying about. Unless you are in a market that is experiencing some fast changes in
property values, it likely doesn't matter that much.