Buying a home is a major purchase that requires time and patience. Most people spend their entire lives building up enough savings in order to be able to acquire their piece of the American dream. Of course, a home can be purchased at anytime once the money saved up, but there may be a more strategic time to buy. Keep reading below to for more information on the best time to buy a house.
A new home for the holidays
Hardly anyone is looking to purchase a home during Christmas season. Most are focused on holiday shopping, spending time with extended families, or vacationing. This means that if you do come across a home for sale you will most likely have a good chance of your offer being accepted on or around Christmas day.
Here are a couple of reasons why Christmas day is the best time of year to shop for a home:
- Prices generally drop to a 12-month low during the month of December
- Everyone is in the Christmas spirit and are more likely to be generous, even if that means dropping the price of their listing to make someone else’s holiday more merry
Spring into action!
Hibernating isn’t only for bears. During the winter season, most home sellers put away their for sale signs and only take them back out of storage once flowers begin to bloom and the Spring season begins. The Spring sale season is like none other in real estate. Houses tend to sell faster and here a couple of reasons why:
- There are more homes on the market during the Spring than any time of year
- Most downsizing occurs as families are preparing for children to make their transitions into college.
Pro tip: Keep in mind, even though Spring is the best time to buy, there will be a lot of competition for buyers and sellers alike. If you plan on buying during the Spring sale season, be prepared to go in with your best offer!
The Christmas holiday is quickly approaching and before you know it, Spring will arrive. Take advantage of best time to find your dream home.
Happy house hunting!