By now, you probably know that selling or buying real estate requires a lot of patience. You have to think, evaluate, and look at the relation between quality and money you’re investing or considering. One of the key things potential buyers need to decide is when it's the right time to purchase real estate. You can try to time the real estate market or buy when interest rates are low, or you can buy at certain times of year when you're more likely to get a favorable deal or find the widest selection of homes. Ultimately, though, you'll also need to make sure that you're buying at the right time for you, which means you need to take your personal situation into account as well. If you're interested in exploring what time of the year is the most advantageous time to buy a home, Richard Josephberg, founder of Almorli Advisors has the answers.
Unfortunately, there is no one perfect home buying date or even month that includes everything that home buyers want. Summer and winter are very different home buying seasons, with advantages and disadvantages to both. Here are some of the details you need to know.
According to Josephberg, the best time to buy is when you can afford to do so, regardless of the market conditions. Usually the marketplace is filled with inventory. From its experience as the CEO of Almorli Advisors, Josephberg has found that there is more on the market in the spring than any other time of the year. However, it can also the worst time to buy a home. The spring selling market often results in way too much competition for the same homes.
The factors that should be considered when timing your home purchase typically fall into two categories: market factors and your personal life factors. Market factors are things like interest rates (lower rates will offer lower monthly payments, which helps you save money on the cost of paying off your mortgage), and whether you are shopping for a home in a buyer’s market or a seller’s market. The other most important factor in deciding whether it's time to buy is whether you're personally ready to make a home purchase. That means you'll need to have your financial life in order.
