BUYING A HOME DURING VALENTINE’S DAY
Valentine Day can be a red-letter day for home buying. Many smart homebuyers wait for February before they buy a home. February is a favorable month for buying, owning, and selling homes. It is a more fruitful time for residential estate bargains than fall or spring, which are traditional home purchasing seasons. This month is when you should find your homebuying edge because there is lots of competition and a low number of properties.
In the past sixteen years, there have only been a little over 3 Million houses have been sold in February. Other months of the year have at least 4 Million houses sold. The median PPSF (price per square foot) in February has been 103.90 USD since the year 2000. During known months of homebuying, the PPSF is usually 114.10 USD for every square foot and 111.10 USD in May for every square foot. It is evident that homebuyers who purchase during the love month are always treated to a bargain.
Low median prices such as 168,000 USD are given for houses in February. These low prices are better by 20,000 USD during June (189,000 USD) and July (190,000 USD). Just because you’re buying a house in February, you get unbelievable savings—about 7.2% median discount.
Since you know it’s best to buy a home in February, determine which day it is best to sign those papers and seal the deal. The known days home buyers get the best prices are February 4, 5, 7, 11, and 12. Since it is very close to Valentine’s Day, why not make that new home the perfect Valentine gift for your loved one or for yourself (In advance, of course)? February 7 has been known to provide the best conceivable price for every square foot (Only 98.40 USD). You get a hefty 12.1% discount at 159,000 USD median price.
The weather in February has a lot to do with the decrease in home prices. The northern part of the US is affected by the cold weather during this time. During winter, it is extra challenging to attend good open houses. That is why only a few homebuyers compete against each other. They also chance upon amazing deals.
Home sellers also have a tough time showing their homes during this cold season. The mess of snow and mud tracks in the house is a horror to anyone who wants to show off spotless floors. Even if they are more than eager to show their homes, potential homebuyers would rather stay warm indoors.
Home buying can be daunting. It can take a toll on your body, mind, and pocket. Try to prepare for February home sales. Perhaps Valentine Day is the best day to start again with a new home.