When is the best time of year to buy a house -- especially if you plan to live in Maine. You are likely to find plenty of conflicting answers in your research, so we’re here to set the record straight.
Here’s all you need to know, once and for all:
When is the Best Time of Year to Buy a House?
You’ve likely heard that the best time to buy a house is early in the summer. This is because many families prefer to start the moving process once the kids finish the school year and take the summer season to settle in.
Many people know this and follow this rule, so it’s likely that, as the weather begins to warm up, you’ll start to see plenty of great potential homes come onto the market.
You may be encouraged by the increase in inventory, but there will definitely be plenty of direct competition as well.
How Do I Beat This?
The actual best time of year to buy a house is a little bit later in the summer. This is because if a seller hasn’t been able to make a deal yet, they will likely be more open to negotiation as the weather starts to cool down.
As a buyer, if you wait until it gets a little closer to the start of school, you may find the more home listings with potential price reductions.
Should I Wait all Year for the Prime Time?
No, the right time is when it makes the most sense to you logistically and financially. Sometimes a job comes up or a family member falls ill and you need to move immediately, no matter the temperature of the weather...or housing market. Additionally, waiting for housing prices to come down can backfire by the risk of rising interest rates or higher costs of materials needed for your new home projects.
Always remember to partner with your buyer’s agent to create a personalized game plan.
If your move is more about finding the perfect house than moving within a timeline, then there’s no harm in waiting. And if your goal is to downsize or move closer to your current job, and you have flexibility, then there’s no harm in gaming the market just a little bit.
Just remember: stay in communication with your Realtor to maintain an accurate assessment of the current local market trends and what changes may be anticipated.
Need some help deciding when to sell your house? Our team of professional, experienced
Realtors can’t wait to work with you. Feel free to contact us today!