At some point, we all wanted to be homeowners and not just pay rent every month or move from one place to another to find an apartment that can suit our personality and budget too. People who have their own homes now know all too well what a struggle to finally call a house your home. Some people determine the best time to buy a house according to market conditions. Sure, it’s one thing to consider, but everything else about buying a house is all about you.
Timing is a big factor in determining the best time to buy a house. Of course, assuming that you are financially and emotionally well-prepared for the big day, there are other important factors to help you decide when. If you time your purchase just right, pretty sure you can catch a great home perfect for you.
What is the Best Month?
There’s no such thing as a guaranteed best month. But, as mentioned above, timing is everything. Real estate is local, so determining the best time ultimately depends on market conditions. However, there are some reasons why other months also affect the market and how it could turn out to be the best time for you.
- January to March means lower competition. During the winter seasons, there’s less inventory, fewer homes for sale, so lower competition. During this time, home prices are typically the lowest they’ll be throughout the year, so pretty sure you can catch some good deals at this time. The drawback is that the weather can be a real challenge. It would be pretty hard to drive around and view the actual look of the house. A home inspection can be quite challenging during this time too.
- April to June means spring is in bloom. Springtime is, no doubt, a home buying season. Open houses are also more enjoyable during the warmer months. Houses and landscapes are easier to view and evaluate. Most importantly, home inspections are also easier to conduct, which you need before buying. However, because it’s a fairly enjoyable season, most families move when kids are out of school so expect a good number of competitions during these months. Bidding is much more common, and prices tend to pick up. You’ll also have less negotiating power during this time.
- July to September is the summer fever. If you think you can handle the summer heat and a little competition on the side, then this might be the time for you. The spring home-buying craze is over, so prices may start to return to normal and save you a lot. Open houses are pretty enjoyable during these months, and just like spring, home inspections are ideal. The hot weather is a pretty good time for testing the air conditioning units and how they can hold up to the heat.
- October to December, where the market is quieter. It’s not like you can’t find anything but the market may not have enough inventory. Price reductions are pretty common in autumn, though. For sellers whose houses did not sell during spring, the prices may start to reflect the seller’s motivation to find a buyer.
To Buy Now? Or Wait a Little While?
There’s no ideal age, year, or month for you to consider buying a home. Just take into account these three important factors:
- Finances. Can you afford it now?
- Stability. Are you on the stable financial ground?
- Lifestyle. Buying a home means aligning with your life goals, and settling down in a community you can strongly build a relationship with is pretty important.
So again, everything is up to you. After all, there’s nothing better than having a place to call your own and customize it all to your heart’s content. Once you’ve decided when is the best time to buy a home, never forget to give a Chicago IL home inspector a call at (708) 329-8625 or Click Here to Schedule Online for your home inspection needs.
Xcellence Inspection Services has been one of the most trusted home inspection companies in the South and Southwestern suburbs of Chicago, including Flossmoor, Oak Lawn, Orland Park, and Joliet area.
“Dedication to excellence” is what our professionals at Xcellence Inspection Services stand by. Our certified home inspectors will conduct a thorough 3 to 5-hour evaluation of the property you’re looking to buy so that you will have an understanding of its current structural, health, and safety issues. The more defects we find, the better you will have the best ballpark value of the property and make your most confident buying or selling decision. We also highlight positive features.