A client asked me, “When is the right time to buy?” This is a very interesting question, and goes hand-in-hand with the question, “When is the best time to sell?”
Over the years there have been theories about winter, or spring, or fall. Growing up in Canada, where winter temperatures can sink to -40C, I came to realize that there are definitely times when house hunting is not at the top of anyone’s list.
However, now that I live in Southern California, an area where ten months of the year the temperature ranges between 65-80F, it’s an adjustment to realize that there are home-buying seasons, and times when buyers and sellers might benefit from the season. I have developed my own theories.
The Best Time for Families
In neighborhoods where schools drive the prices, families with children would prefer to move when school is out.
If you want to move in June, July or August, home shopping in March and April makes sense. This is the time to find a house, bid, rebid, and win so you can close in 45 days. So, the active season starts in March and continues until June or July.
If you have a large family home that you want to sell, then consider putting your home up for sale starting in March.
The Best Time for Singles and Couples
If you don’t have a big family or don’t care about schools, then school-year driven timing really doesn’t apply. Condos, for example, usually have single people or couples as buyers who are not attached to the school year cycle.
Maybe they buy when they have time. Maybe they don’t buy in summer, when they are travelling.
There is definitely a drop in all categories at the end of the year, so you wouldn’t want to sell your home during this time of the year.
Who wants to clean the house, get ready for an Open House, or show your home in the middle of the holiday season? This is the time of visitors, guests, parties, holiday decorations, mess, etc. In snow country or rainy season, it’s also messier to have people tracking into the house—but they do it anyway.
So when is the best time to buy? When you are fully qualified, have the cash ready, and find the property you that makes you feel, “This is the One!”
And when is the best time to sell? When your buyer is fully qualified and ready to buy.
Want to buy or refinance a home in 2015? Then contact me for your FREE 90-minute, no-obligation consultation. Give yourself the gift of peace-of-mind.