Saturday, January 15, 2011
Why January is the Best Time to Buy
If you are looking to buy a home, then you probably want to get the best deal. January is the best time to be purchasing a home. Let me explain why.
A lot of people put their homes on the market in January. In addition, there are very few people looking to buy a home in January. This is because most of the people transferring for a job have already bought a home. Their companies want them to have purchased by the end of the year so they can write it off on the corporate tax bill.
The remaining buyers are usually waiting until Spring to go house hunting again. This gives you 2-3 months of prime negotiating time.
It is more than likely that you will be the only offers most sellers will see until Spring. But, guess what happens in Spring? All of the other buyers start looking at homes and making offers. Those home sellers now have other options. Your offer isn’t the only one they have on the table. As a result, the seller might pass on an offer that they would have accepted in January. So, if you are looking for a home, get out there and start looking. Don’t let the cold stop you from finding a great deal.
You probably won’t find home prices this low for a while. Everyone is expecting the economy to finally pick up in 2011. This will drive home prices higher..