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Is
There A Particular Time Of Year To Buy?
“SPRING
AND SUMMER SEEM TO BE THE MOST IDEAL SEASONS TO BUY A HOUSE (AND TO
RELOCATE), BUT ARE THERE ANY ADVANTAGES TO BUYING IN EITHER THE FALL OR
WINTER?”
Although
the general market conditions ultimately determine when you should buy
or refinance, fall and winter are often overlooked times to make a
purchase. Why? First off, you may have less competition from other
buyers simply because home shopping is less favorable in the colder
months. No one really wants to be out home shopping (or worse,
relocating) in the middle of winter. Also, many people are reluctant to
move during the school year; a great number of prospective home buyers
prefer to uproot only between the months of June and September. This, of
course, may work against you in that there may be less of a selection of
houses for you to choose from. Second, since fall and winter are
typically slow periods, many real estate agents and mortgage bankers are
able to offer you more personalized service. They’re not swamped with
outstanding loans to process (see the summer of 2003 as a perfect
example of this). Finally, many people who put their homes on the market
in the off-months of fall or winter have a need to sell their
home as soon as they can, for whatever reason. This can definitely work
in a buyer’s favor in terms of a lower final price. Remember this,
though: Never rush into buying. Take your time and do your research—no
matter what the season. ∆ |
