Buying a home is easily one of the most significant financial decisions you’ll make throughout your life. It requires planning, saving, and the right timing. But what factors should you consider when planning the timing of your home purchase?
Here’s a quick guide for you to reference as you prepare to enter the home buying process:
- For the most choice in home selection, shop in the spring or summer. This period usually kicks off around March and tops out in June. You might pay more, but you’ll also be more likely to find your dream home.
- For more negotiating power, shop in the winter. Inventory will be lower, but if you strike before demand outstrips supply, you should be able to find a great deal.
- Always consider your financial situation. You’re best equipped to take advantage of the market conditions when you’re fully prepared, having planned ahead and saved for a down payment. Make sure your personal finances are the primary driver in any home-buying decision-making.