The NWM Blog
Written by Northwest Mortgage
Published on Fri, Sep 11, 2020, Last Updated on Sun, Nov 1, 2020
Buying a home is stressful, difficult, and the search for the perfect home can even keep you up at night. You may even have a sense of excitement whenever you tour prospective homes to buy. However, the longer it takes you to find your dream home, the more stressed you may find yourself becoming.
How can you find the right home to move in?
It’s all about the season.
What’s the Best Season to Buy a Home?
You need to start house hunting either in spring or summer. The months of March and February are ideal, as that’s when most homeowners decide to put their home for sale. Most single-family homeowners are parents, and their goal is to move out before the new school year begins.
Potential buyers prefer spring and summer to find their ideal home because of the pleasant weather. You’ll have the largest selection of homes available for sale through March to July. That gives you five months to find a home, which should be plenty of time.
Is There a Downside to Buying a Home during This Season?
Yes, there is. You won’t be the only buyer who’s searching. That means more competition for you. Sellers tend to sell their home in March, April, and May at list price or above it. Out of the five months, the best month to find the most homes is in June, as it’s the busiest home-selling month.
As we said before, be ready to compete, as it’s the busiest month and season. You may have to pay full or more if you want to beat the competition. Although the prices may be high during the season, you’ll have a higher chance of finding your dream home due to the large range of options available on the market.
What If You Want to Buy a Home at an Affordable Price?
If you don’t want to pay more for a home, don’t buy it in the spring and summer. Look for a house in the winter instead. Houses that go on market in the winter may be the result of the current homeowners needing to move out fast due to a job transfer. This means that they may also be willing to sell their home for less so they can move quickly.
If you want to buy a home at an affordable price and within your budget, you’ll want to brave the cold and book a tour in the winter.
Whether you start house hunting in the summer or winter, you’ll want to stay competitive with a pre-approval. Contact us to learn how you can get pre-approved today.