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When Is the Best Time for Home Buying?
Buy / Sell

When Is the Best Time for Home Buying? 

A house is the biggest purchase a family will make in their lifetime. This is why most people will look for ways to strike a good deal on it.

You don’t need to shoot an arrow in the dark when looking for discounts. Although it may seem like an impossible task, you can find a home that meets your standards and your set budget. Just make sure to find enough information about the house and location you are looking to buy to get the best deal on it.

Believe it or not, there are specific dates that are considered the best time for home buying. Backed by data and research, real estate companies have discovered clues when you can make a good buy without maxing out your finances.

Spring and Early Summer

Spring brings more than just good cheer and fair weather. It also makes future homeowners optimistic about the future, especially when looking to purchase their own homes.

When more buyers are on the lookout, there’s a greater likelihood you’ll get a bargain. Sellers are willing to reduce their prices to sell a property.

But there’s a caveat. Some sellers will increase the prices because of the high demand.

But you can counter this effect by waiting until the latter end of spring and in the early stages of summer.

During this period, sellers get nervous that they won’t be able to liquidate their property before the cold weather approaches. Since when winter kicks in, the sale of real estate has become really difficult.

So make sure to be actively seeking during this season.

Best Day of the Week

While most employees dread Mondays, those looking to buy a home seem to find delight in it.

According to a 2015 study, buyers get discounts at about 2.3% below market value every Monday. But if you’re not available on that day, you can look to Friday to purchase a home as it brings discounts on home sales at an average of 2%.

Best Day to Buy a House (According to Data)

Are you ready for this? It’s a day after Christmas.

According to the study, buyers are willing to make a deal on a home purchase the day after Christmas. This analysis is from more than 18 million real estate sales over the past five years.

After Christmas day, people are in a good mood. They are still celebrating with the family and having fun. Only a handful of people are looking to purchase a home after this holiday, which makes the chance of multiple offers on a home very low.

But you would have to look for an agent who will work on this day. It may be difficult, but some agents can help you if you’re serious in purchasing a home, even on a holiday.

Conclusion

You have to remember that other factors weigh in on the price of a home. While some would think that specific dates can reduce a home price, it wouldn’t hurt to consider these factors.

What’s important is that you educate yourself with the current market price of the home in your preferred location and find a reliable agent who will be able to help you find your dream home and meet your budget on it (or at least without breaking the bank.)

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