The Best Time Of The Year To Buy A Home

Winter time is the best time to buy a home in Colorado

Most potential buyers study different economic factors when making such a significant and life-changing decision, such as the increase in the cost of living and how inflation rates vary. Newly married couples, for example, typically delay looking for a new home until mortgage repayments become more reasonable. If 2014 is the year in which you want to finally find the perfect dream home, there are a few tips to keep in mind that might be able to save you a lot of time and money.

Since the recent economic downturn of the past few years, the housing market has thankfully started to bounce back and regain its stability. In some housing markets, sales have continuously held steady and prices are often on the rise in certain states. Consequently, you might find a tempting deal. There are times throughout the year when it is more likely that you can find a larger number of homes available on the market, although naturally your own personal situation may limit when exactly you can buy what you find.

There are certain things that can maximize your chances of finding the ideal property for you and your family to settle down and enjoy for years to come. Many Americans choose the months between April and July to sell their homes, characteristically because a long vacation period means nicer weather and an all-round easier time trying to pack up and ship everyone's possessions. Parents who want to move are also wary of the problems that result from taking their children out of school for long periods of time, and it is these facts that discourage sellers from putting their homes on the market.

Since sellers know that spring is probably the most popular time to offer a house for sale, the market is sometimes flooded with numerous new houses hitting the market at the same time. Therefore, as spring is the optimal time for house hunters to start looking at their options, it can be a double-edged sword. With so many properties made available in a comparatively short amount of time, countless buyers complain about too much choice as opposed to too little, as well as noting that the average price of a house may rise during these months.

One of the most basic things to consider is whether you can wait until the off-season before you start your search. This is because both prices and overall levels of demand are lower than normal. During the winter months, early-bird-catching-the-worm sellers start listing their houses for sale, which means you may be able to find a bargain. Just think: some sellers may not have settled on a firm sale price and could be open to negotiation! When demand has decreased, mortgage lenders every so often drop some of their fees so that they can attract new customers. Handily, this means that you should start looking for an off-season purchase sooner rather than later.

Another time to find a bargain is after the summer rush has just subsided and, if you are prepared to wait, the latter part of the year isn't necessarily going to only offer you the leftovers. Many people are too busy to even contemplate looking for a house when the weather gets colder, especially during Thanksgiving, Christmas and the start of the new year. House prices hit a 12-month low in the fall due to unpleasant weather and you might just chance upon a seller filled with festive cheer who is willing to settle on a price that works for you both.

Thankfully, the days of a failing economy are fading, and housing prices around the country are nowhere near as rock-bottom as they once were. As Denver online magazine reported, "Not long ago, real estate in Denver was in the weeds. In January 2009, the average home price in the Mile High City hovered around $225,000, a 30 percent drop from the market’s peak in June 2007... But this grim picture is now history; in fact, Denver home prices have almost climbed back to their '07 highs."1 The Denver Post agrees, adding that "while rising prices make homes less affordable for buyers, they also boost their confidence that they won't lose value as soon as they buy.

When timed right, good deals on homes of all shapes and sizes can be found wherever you are; in the real estate industry, everybody wants a great deal and no one wants a slow sale.

From luxury homes to condos and everything in between, Cityside Real Estate Group offers property management services to those looking for local investment properties in Utah, including Enterprise, Pine Valley, Saint George, Santa Clara and Washington City.

Other Articles