The Best Time of Year to Buy a Waltham House
Does the time of year actually matter when buying a house? The short answer: yes and no. Seasonality tends to affect factors such as inventory and purchase price. During the spring time inventory is plentiful, but competition among buyers may cause prices to rise. By contrast, home prices may be lower during the winter months, but inventory is usually limited. Seasonality can influence the process of moving as well depending on the weather.
The best time to purchase a home is not always when inventory is at its peak or when price has hit its low for the year. Sure, these are important factors to consider, but the broader market conditions and your personal needs also play a role. The truth of it is you can find houses during any season. Determining the best time to jump into homeownership means understanding the pros and cons of buying a house at different times and deciding when it is best for you. Let’s look at how the time of year affects home buying.
Buying a Waltham House in The Winter
Winter is usually the cheapest time of the year to purchase a Waltham home. Sellers are often more motivated, which automatically translates into an advantage for you. Most people suspend their listings from around Thanksgiving to the New Year because they assume buyers are scarce. However, sellers that are listing during this time usually mean that they want to sell their home as soon as possible. Theft may even be more willing to throw in extra perks such as appliances and window treatments to get the deal done.
However, just because prices are cheaper does not mean inventory is at a high. Winter may also mean that you may have to navigate house hunting and open houses in less than ideal weather, depending on which part of the country you live in. You may not even see a property in full bloom during this time of the year. Winter season can bring inconveniences during the process. For example your inspector may have a hard time gauging if the roof is in good condition if there is snow all over it.
Despite these challenges during the winter season, the closing process tends to be speedier. Lenders
process fewer applications during this season as well. Waltham real estate agents are more accessible, and inspections have less backlog.
Buying a Waltham House in The Spring
Spring is a hot time of the year when it comes to the real estate market. The warm weather and end of the school year tends to draw out sellers and buyers in doves, which creates a healthy marketplace. This time of year has its pros and cons if you are looking for a new home. You will have plenty of inventory to look at, but that means so does your competition. You may even find yourself in a bidding war during this time of the year.
One of the simple reasons house inventory tends to increase with the temperature is because hoses show better. The trees and flowers are in bloom, and grass turns green again. Houses look much better in the spring sunlight. Home prices may be top dollar but buying in the spring is popular for a lot of reasons. Families are looking to get settled before a new school year, there is more time to shop for a home together and the weather makes it an overall more enjoyable experience.
Buying a Waltham House in The Summer
The summer season is still a busy time from the spring rush, but you can get a great deal if you are willing to sit tight until the end of summer. Expect to come in with a strong offer and not just on price. Sellers are looking for a serious buyer during this time of year, that leaves them time to sell their home and use it to purchase another. There is a better chance you can time your sale and purchase together since lots of buyers are on the hunt.
In most areas the market slows down a bit as it gets closer to August. Late August traditionally gives you a great opportunity to find deals, because sellers slash prices even further. Do not blow off the houses that have sat on the market during the spring and summer selling seasons. There are numerous reasons why a home might not have sold. Be sure to do your own research and walk of the property with your Waltham realtor to get a proper analysis.
Location matters when you purchase in the summer. The early days of summer are considered peak real estate season in the U.S., but it is not true in all areas of the country. Florida is a great example, the temperature and humidity in the Sunshine State skyrockets in July and August. Leaving you with a less pleasurable experience during these months.
Buying a Waltham House in The Fall
Outside of winter, a fall purchase can be ideal for cash strapped home buyers. Once summer ends, sellers get more motivated. During this time the market typically sees lower prices and provides an opportunity to get a deal done. The same as in the winter season there is less inventory. Many sellers want to avoid moving during the holiday season, which gives you more room to negotiate when you do decide to make an offer.
There is also fewer buyers during the fall seasons. People, particularly parents who have looked during the spring and summer typically want to be settled into a home before school begins. Once the fall kicks in, they tend to put home shopping on hold until the next spring. Being patient till October can leave you in a great opportunity to get the most bang for your buck. This is particularly true of sellers who want to sell their home and get a tax write off before the end of the year.
Contact a Waltham Real Estate Agent Today
If you are looking to find your new home and do not know when the best time to buy is, then look no further than Hans. He has decades of experience when it comes to Massachusetts real estate. Get in direct contact with him by calling him at 781-891-9993 or by filling out a contact form on the website.