When is the Best Time to Buy?

For most home buyers, Memorial Day to Labor Day is the time to look. If they have families, this is when they have the most free time and the kids are not in school. Summer time, also known as the Peak Season for purchasing houses is a crazy time. Its a crazy time for realtors, movers as well as financial institutions. The buying process in the summer may take longer than expected and may not go as smoothly as you had hoped. The Summer season also creates a sellers market where the sellers are in control. The buyers are typically trying to buy in the summer and get all moved in before fall so that they are settled when school starts. Well, if you can get through the summer preparing yourself, your family and starting the loan process, Winter is the buyers market. Why? Winter is when there are fewer homes for sale and fewer buyers. With fewer buyers on the market, homes stick around a little longer therefor sellers are willing to negotiate more on their asking price. Another benefit of buying in the Winter is that lenders have more time on their hands due to the fact that there are fewer buyers and sellers. This makes the loan process move a lot more smoothly.

When looking at homes in the Summer, you may not pick up on the little things that need fixing. You may not notice drafty windows or water leaks due to snow melt. These are important issues that you will only find during the Winter season! Home buying is a lot like shopping...... you can always find a bargain after the Holidays!