Buying a home is a daunting task. While you may be excited to start shopping for your new home, there is the matter of when is the best time to buy a house. Coincidentally, certain times that just might work in your favor to get you the best house for the best deal.
When you start shopping for the house of your dreams, consider the time of year before you jump right in.
Does the Time of Year Matter?
If you’re ready to buy a house right now and it’s simply not feasible to wait, then don’t let the trends stop you. There is certainly some information that alludes to the fact that inventory and even purchasing prices adjust by season, but that doesn’t mean that season is the only time you should buy.
Generally speaking, inventory is more plentiful in the spring. People are making changes and new beginnings, so homes get put on the market in preparation for those changes. On the same note, there are also more buyers looking at inventory in that timeframe.
Then, you have wintertime, which is the opposite. You have more opportunities to choose from any home on the market because there are fewer buyers in the winter. People are settling in and hanging tight for the winter. However, there could quite possibly be less inventory to choose from in this timeframe as well.
Don’t just plan your purchase for the season. You can potentially make any seasons work for you. Choose when to buy a home based on what works for you, be aware of the varying factors, and don’t let that dream home that just joined the market get away from you!
Winter and Fall Home Buying
If you’re looking to buy at the best price point, winter is a great time to buy. It’s also a time when sellers are more motivated to work with you, not just on price but even on potential requests that you make. When a home is on the market at this time of year, it’s typically because the seller desperately needs to unload the house.
This can also be a slow time for real estate agents, so you could potentially even get a better deal on commissions from the agent for the sale. There is no guarantee but it certainly might work in your favor.
Just keep in mind that you might not have as many options to choose from. You may not be able to find something that you really like or want and you might also not be able to attend open houses to try to narrow down the market.
If you’re able to find a home and move on, it’s likely to be a quick and efficient process since it’s a less busy time.
Spring and Summer Home Buying
Spring can be an exceptionally busy time of year when it comes to the housing market. More people are listing their homes, more people are looking for homes, and the real estate agents and mortgage companies are loaded with work.
You will have so many more choices, but you will also find that you have more people to fight for a chance at your dream home. You could end up in a bidding war, driving the price and costs up even farther for you.
You’re coming out of a slow time, and people are anxious to get out there, leaning to heavy demand. You probably are not going to find a bargain, but you are more likely to find the perfect house.
Home Listings in Stillwater and Surrounding Areas
When you’re ready to buy a house, you might want to consider the timing but you shouldn’t let that be your deciding factor. Consider the current housing market and whether or not you are ready to purchase a home and then work from there. Wendy Gimpel, a top listing agent in Stillwater, is ready to help you find a forever home. Contact her today for the latest listings.
Happy house hunting to you!
