Answering the question, “When is the best time to purchase a house?”
Is back to school the best time to buy a house? People usually think early spring is the best time to sell a house, but I argue that there is no best time to buy a house and that it just depends on your situation. Here are a few factors that you should consider before purchasing:
1. The school year. If you have kids in school, it makes sense to look for a house around April or May to be moved into the new school district by the time school starts in August. This may not apply to you if you don’t have kids or if they’re homeschooled.
2. Financial preparedness. Do you have the money saved up for the down payment? Have you budgeted for closing costs and moving? Will you have to make some repairs to your new house? These all need to be considered and accounted for.
“There is no definitive best time to buy a house.”
3. Don’t settle. Find the right home. Inventory is still limited, but it has risen over the past few months. If your dream home comes on the market, you may consider overlooking the higher interest rates or that school is about to start. Go for your dream home.
I'd love to talk to you about your situation. Feel free to reach out to me by phone or email, and we can talk about whether now is a good time for you to buy. I look forward to hearing from you.
