The decision to buy a house is not made within a day. It takes several days of planning and research that finally results in a decision that changes your life forever. While investing in a property, home buyers predict if the property value is rising or falling; at the same time, they give attention to mortgage rates. While there are important metrics that determine the right time to buy a home, the real estate agent Cary NC believes that the right time is when you can afford to buy.
When Is the Best Time to Buy a Home in North Carolina?
A lot of factors influence the fluctuation of the real estate market. It is rightly said that the best time to buy a home is when you can afford it. When you are prepared, you know what you want and what you can afford to buy. Your ability to buy a house is affected by your financial circumstances. It is also affected by how the real estate market is doing in the area that you seek to buy your home.
As per top real estate agent NC, home buyers must be aware of the seasonal variations in the prices of real estate if they want to land on the best price for the home they wish to buy. You may be surprised to know how much of an impact seasonal changes can have on the purchase of the house and its closing price. Depending on the time of the year, the median sales price fluctuates by nearly 7% to 8%. If you want to land a beneficial deal, it is crucial to work with the best real estate agent NC.
Seasonality is a major factor that influences the real estate market. It means that there are some ups and downs that you will experience in each season. While the market is at its peak in summer, it tends to be slower in winter. Some of the best and professional real estate agent NC will tell you that finding the best home will mostly depend on your priorities. It is important to understand what is important to you- the largest selection of houses, the lowest prices, or both.
Largest Selection of Houses
If a wide choice of homes to choose from is more important to you than the price, then the best time to buy a home would be in the spring. April, May, and June are the most popular months for a new listing, and April has the most listings of any month. Spring is an expensive time to buy, but it offers more choice than any other season.
If the price is important, then the best time to buy a home is during the fall. You must aim for late fall or early winter as there are fewer homes and fewer buyers in the market, and the rates are low as well. During this time, November to February, homeowners are selling because they have to and not because they want to.
Largest Selection at Low Price
If you don’t like the chaotic summer and the stagnant winter, then the end of summer is just right for you. You will have a large selection of houses to choose from, and the houses will be priced to move as homeowners offer a discount as well. Sellers would want to move before the weather gets cold, and hence the rates will drop down towards the end of summer, making it an ideal time to buy.
As a buyer, just make sure that you access your needs, set out your goals, and find the best real estate agent NC before you proceed to buy.