Did you know that last year over 5 million homes were sold? The real estate market is active and shows no signs of slowing down. With so much competition for houses, it can be hard to get an edge.
Are you looking to join the housing hunt? Certain times are better than others when it comes to purchasing a property. Check out this guide to learn more about the best time of year to buy a house.
When Is the Best Time of Year To Buy a House?
If you were wondering when to buy a home, there is no firm answer. Certain seasons like winter can be easier because there is less demand than in the springtime when most people try to buy. There are often certain months on the cusp of seasons like August and November that can offer good deals while there is still inventory.
Another thing to know about the real estate market is that location matters. Places that stay warm year-round may not be affected like cold-weather spots by the seasonal shift in demand. The markets there may heat up even more as the temperatures rise and snowbirds arrive for the season.
Team Up With a Real Estate Agent
One of the top home-buying tips is to join forces with a licensed real estate agent. They have a good understanding of the market and can guide you throughout the process. Choose a realtor that is familiar with the neighborhood that you would like to live in so that you can benefit from their experience there.
Consider Other Factors
While the seasons play an important role in the competitiveness of the market, there are other factors to consider. Low interest rates on mortgages can heat up the market since they offer an incentive for buyers to purchase a property and get locked into good rates. But if the economy is poor or other significant world events are taking place there may be less demand.
Get Pre-Approved for a Mortgage
If you are a first time home buyer one of the most important things you can do to have an edge in the home buying process is to get pre-approved for a mortgage. This shows the sellers that you are serious and are ready to go in terms of financing. It can make you more attractive as a potential buyer than someone who does not have a pre-approval in place.
Ready To Buy a House?
Now that you’ve learned the best time of year to buy a house you can plan accordingly. Be a savvy shopper and prepare by getting a pre-approval on a mortgage and teaming up with a real estate agent. Remember, the best time to buy a house is when it is the right time for you!
Did you find this article helpful? If so, check out some of the other similar topics on this site for more useful tips. Did you find this article helpful? If so, check out some of the other similar topics on this site for more useful tips.