Buying a home is nerve-wracking. Buying your first home ever is nerve-wracking, exciting, stressful, terrifying, amazing, and every other mix of emotions you can think of. If you are a first time homebuyer, you probably have a list of questions swirling around in your head. How much money can I afford to spend? What will my down payment be? What about property taxes? Mortgage? Do I get a discount as a first time homebuyer?
While we can’t answer all of these questions, we can answer one important one: when is the best time of year to buy your first home? We’ll give you tips on the best home-buying seasons as well as certain times of year you should avoid (if you can) in order to get the best deal on your new and very first home.
Avoid Spring if You Want to Save Money
Once spring has sprung, you are probably going to start entertaining ideas of owning your first home and enjoying watching the greenery come to life. Well, join the club, because you and everyone else in town are going to start entertaining notions of moving as soon as spring hits. Why?
Spring is a popular moving time, especially for couples who are either in school (or teachers) or who have children in school themselves. Buying a new home in spring means they can relocate and resettle by the start of summer, just in time to get situated before the school year starts.
Do yourself a favor and don’t buy a house at the height of spring. Do go house shopping, visit open houses, and scope out the market. But don’t rush into a negotiation with the first home you fall in love with. You’ll pay a premium if you buy your first home in spring, since competition will be high and sellers know they can charge a premium for their properties.
Hot August Nights Make for Great Home Buying Season
If you do need to buy your first home in the summer, wait until mid to late August. You’ll notice that the homes that have been on the market for the whole summer will show significant drops in prices, meaning you can scoop up a great deal on your first home purchase.
Winter is the Best Time of Year to Buy Your First Home
If you can wait until summer is over to look into purchasing your first home, then do it. The dead of winter, when the weather is coldest, is when you’ll see the best prices. Not as many homes are on the market, meaning there is low competition and desperate sellers. Homeowners will lower their prices in fear of not being able to make a sale at all, so you could walk out with an amazing deal.
When is the best time of year to buy your first home? Winter is best, with late August coming in for a close second. Just know that patience will pay off, and regardless of what time of year you choose to purchase your first home, it will be well worth the wait. UNITS moving and portable storage offers portable storage in Concord, portable storage in Fremont, portable storage in Walnut Creek and the rest of the greater East Bay area.