When is the BEST time to BUY a house
When is the best time to buy a home? While this is a relative question depending on your circumstance, I talk about seasonal and historical trends of the market and when the best time to buy a home is if you're looking for the best deal.
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When should you buy a home?
The easy answer is once you have been pre-approved and the right home presents itself but it's all relative to your situation. Trying to time the market is a lot like trying to buy/sell a stock at the top or bottom, it's very difficult to do so my suggestion to anyone looking to buy a home is make sure you are comfortable with the monthly payment associated with the home you are interested in and don't settle on a home just to buy one. Historically speaking, the fall/winter market in California is a good time to purchase as you have lower buyer demand (less buyers looking) and motivated sellers. That doesn't mean that you can go in and offer significantly less for the home because it's on the market during this time but it likely means that there is room for negotiation because anyone who has their home on the market during this time of year, either has to sell or is generally very motivated to do so.
Keep in mind, this time of year is also the time when inventory (available property for sale) is at it's lowest so finding the perfect home during this time can be a little tougher than the spring market when inventory is usually at it's highest point of the year.
What is the 1st step in buying a home?
The 1st step in buying a home is getting pre-approved. This should be done prior to ever looking at homes because not only does it tell you that you are fully capable of purchasing a home but also gives you an idea of your monthly payments based on a certain purchase price. This will allow you to start your search in the right price range from the beginning versus going out looking at home that are above/below the price point in which you are comfortable.
If you have additional questions about buying a home, please contact me directly at [email protected] or 714.376.2711.
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