Have you ever wondered what time of year you would get the best bang for your buck when buying a home? Does moving during the winter seem more of a hassle than in the summer? Does it even matter? Here are some of the pros and cons to buying a home during each season.
There are a few factors that make moving in the winter seem less appealing. Colder temperatures, inclement weather, and the many holidays that come with the winter months can make it seem like staying put in your comfort zone (and warmth of your home!) is the right choice. However, there are advantages to buying in the winter. Less buyers means less competition, and sellers may be willing to accept a lower offer. Additionally, if you’re buying before the end of the year, there are multiple tax benefits to buying before the calendar year is up. Mortgage and interest rates may change with the new year, and buying before then can be beneficial.
Spring means renewal, rejuvenation, and refreshment. After focusing on the holidays, a new home and fresh start may be just what you’re looking for. Unfortunately, that may also be what many others are looking for as well. Spring is generally the busiest season for home buying, but that doesn’t have to be a bad thing. More buyers generally means more sellers, especially after the winter lull. Do your research beforehand, come prepared when making an offer, and you should have multiple options to choose from for your dream home.
Summertime buying can be similar to that of the winter, in regards to people’s schedules. With winter comes holidays, traveling, and family time and summer brings more of the same. People may be less likely to list their homes during the height of summer vacation, but that doesn’t mean this is a slow season. Summer is still one of the most popular seasons to sell, so there are plenty of options out there. Homes that went on the market during the spring but have not yet sold are more likely to lower their asking price or make a better deal. You may also be able to avoid some of the bidding wars that crop up in the buying frenzy in the spring, with the market still having options, but starting to slow down.
Fall can traditionally be grouped with winter as a slower buying and selling market, but there are great reasons to start looking to buy in the fall. Families and people with school-age children generally like to be settled before the school season starts. This, along with people getting more into their routine and prepping for winter, lowers the buying pool. Real estate agents and brokers are less busy in the fall, and therefore have more time and attention to devote to you and your home search. Again, with slower months you can expect to find more serious sellers, and find prices that reflect the true value of the home, not just where the market is at the time.
Regardless of when you are ready to start looking for your new home, Perry Homes is here to help. With custom homes available year-round, rest assured that you will be able to find the right fit for you, any time of the year.