Most people buy homes in the spring and summer. However, the winter can be a fantastic time to buy a home because:
- You are competing with fewer buyers. One main reason why most buyers wait until the spring or summer to buy a house is because they don’t want to move their children to a new school district in the middle of the school year. However, this shouldn’t be a limiting factor for you if you don’t have children, or if your children are too young (or old) to go to school.
- You are positioning yourself to benefit from price increases in the spring and summer. Housing demand and house prices tend to increase in the spring and summer because that’s when most people buy houses. Therefore, if you get a good deal on the purchase of your home this winter, you’ll likely benefit when prices go up later in the year. This sure beats getting stuck on the losing end of a bidding war or price increase!
- Interest rates and your mortgage payment may go up if you wait. Nobody has a crystal ball, but most economists are expecting interest rates to increase later this year. You may benefit by locking in a low rate now.
Contact me to explore your options!