Real Estate Guide: The Best Time to Buy a House

  • By EasyMove
  • 15 Apr 2019
Buying a home is one of the best life decision as well as the most stressful. This is because you are excited about owning a property and at the same time you are stressed about getting the best property that suits your
budget.

This is the main reason why people tend to wonder what is the most suitable time to buy a home. The biggest mistake you can ever do is ask a real estate agent a similar question.

He or she will simply tell you? Now, because they are more focused on closing deals than giving the right answer.

First-time buyers are usually the ones with a more difficult time since they have no idea how the market operates. The best advice anyone will give you is to be patient.
There are a number of things you need to observe when buying a house. You can’t just wake up one day and decide to buy a home. The process needs to be gradual whether you have the money at hand or not.

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This way you won’t end up making a mistake of buying a cheap home expensively or make a bad choice just because you were in a hurry to own property


 

When is the best time to buy a house?

According to statistics, those people who bought their homes in 2008 were so lucky because they ended up paying less for more. This is because the real estate industry had taken a slump thus reducing the price for purchasing a home.

Since then the industry has had an upward trajectory. The only thing you can now depend on when buying a home is timing, but first, you will need to come up with a house-hunting plan.
This should be based on which neighborhoods you would want to own property and what kind of property you would want to purchase.

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You also need to know your budget limit. This is because the last thing you want to do is go for a home that is way beyond your budget. The home you pick should rather lack a single thing that you wanted but never go beyond the amount you are willing to spend.

This is the only sure way you'll be able to pay for your home comfortably without any problems. It also eliminated chances of skipping a payment just because you did not have the money to pay.


Is it a good time to buy a house | Real Estate Statistics.

According to research carried out for several years, it was noted that the best month to purchase a home is usually the period when most homes have stayed in the market for quite some time, and the owners are desperate to sale them.

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This is where you find that a home for sale has been on the listing for three months or more. This means that you have the chance to negotiate for the price and get a good deal at the end.

The statistics indicated that January is usually one of this moths and thus the best time to purchase a home.

The research indicated that most houses that are available for sale in January have been on the listing for at least 104 days. This means that they have stayed longer in the market than they should and this gives room for negotiation.

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If you are a sweet talker, you may end up saving thousands of dollars and getting just the best house that will check most if not all your expectation boxes.

So if you want to end up with the best deal, wait for January.


The best time to buy anything for your home, according to HGTV's 'Property Brothers'
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                                         Source: HGTV

The worst time to buy a home.

Statistics indicate that the worst time to buy a home is usually in June. This is usually a transition season and usually has more homes for sale in the market. Junes is when everyone is out purchasing a home.

This means that the demand for houses is high and this leaves little room for negotiation or no room at all. If you purchase a home during this month, you will end up spending more than what you should, and this may end up messing with your budget.

This is also the month when the real estate industry is considered to be at its peak.

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In June, you will find quite a number of townhouses for sale since sellers tend to list their homes during this period, the median sales price at closing is also high. It is also the period when you can easily come across houses for sale that best suits your need and checks all your boxes.

Whether you have a sweet mouth or not, there is nothing you can tell the seller to convince him or her to lower the price significantly. They always know that there is a high chance of getting a buyer who will pay handsomely.

Another factor to consider when buying a home.

If at all you have the money and you are willing to spend on a home that meets all your needs then you should wait for May. This is usually when there are so many listings of new homes in the market.
With
numerous listings available, you will have just enough time to find the home that will best suit your needs.

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You will, however, get to miss out on the huge discount that you would have gotten in January but you will land a good home that is not only incredible but also well situated.

The above information has been derived from a number of researches that were carried out for several years.

The analysis has revealed that the best month to buy a home is in January and the worst time to buy a home is in June.

There is also the period when the number of new houses for sale crop up significantly, here you can see the chances of getting your dream home is high.

You are however advised to be very patient when shopping for a home since you have no idea when you will end up with the best deal.

Try negotiating with the seller before settling to a certain number.



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