When is the Best Time to Buy a House?

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So, you’re thinking of buying a home, am I right? Let’s just pretend you are. You’re either moving out of Mommy and Daddy’s home and out into the real world, or you’re moving from an apartment into a home, or you’re just moving from one home to another. Whatever your case is, you’re still getting ready to buy a home. Buying a home and selling one actually happen at opposite seasons in the year. Selling a home is best during the months of March and April, while buying a home is best during the month of October. Isn’t that strange? I’ll go into more detail; keep reading, my friends.

 

THANKSGIVING IN A NEW HOME

Studies actually show that October is the best month to buy a home. The best day of the week to buy a home would be Monday, and the best day period would happen to be October 8th.  It’s been proven that homes bought in the month of October were actually bought with a discount of 2.6%. That’s more than any other month! You would think people just go out and buy a home the moment October hits, but actually, not many people go looking for a home during this time. Like I said a bit earlier, the best time to sell a home is during the spring time, so that’s when most people probably go out looking to buy. So, during October, not many people are out shopping, so therefore, the sellers are a little more likely to lower the buying price.

Other months that are best for buying a home are January, February, July and December. As you can assume, it’s best to buy a house mainly during the winter months; aside from July. In January, people got an average discount of 2.1% when buying a home. In February they saved an average of 2.4%, while in July, they saved 2.3%. These are amazing discounts for homes!

Now, the worse month to buy a house would be April. I know what you’re thinking; ‘why is it best to sell a home in April, but the worse time to buy?’ The reason believed that April is the worse time to buy is because everybody is trying to buy, so you won’t be getting a discount. There are so many people wanting to buy a home that sellers have many to choose from. It’s been said that buyers actually paid an average of 1.2% more than the market value. April is the only month out of the year that was actually in the negative discounted price.

 

WHICH WEEK DAY SHOULD I BUY

Let’s break it down even more. We know the best month out of the year to buy a home would be October. I mentioned earlier that the best day of the week to buy would fall on a Monday. Mondays usually end with closing deals of an average of 2.3% discount. Friday was the second best day of the week, saving an average of 2%, and then Tuesday was the worse day of the week, with an average of a 1% discount. It’s a safe bet to say the best day to buy a home would be a Monday in October, am I right?

 

SINGLE BEST DAY

So, a Monday in October would be best to buy a home. How about we break this down even more and talk about the single best day to buy a home. I know, I know, I mentioned it up there already. That day would be October 8th. On that day, the discounted price averaged out to be 10.8%! Wow, that’s probably the best discounted rate you’d be able to find on the market.

Following the first best day of the year to buy a home, it was followed by November 26th with an average discount of 10.1%, December 31st with a discount of 9.7%, October 22nd with a discount of 9.6% and the October 15th with a discount of 9.5%. These discounted rates are phenomenal!

Now for the worse day to buy a home; which would actually be January 19th.  Those who bought a house on January 19th actually paid an average of 9.6% more than the total market value. Ouch, that must have hurt their wallet, am I right? Two of the other worse days of the year would be February 16th and April 20th; which both days actually averaged out to a premium of 9.5% over.

If you do the math and look at the calendar; the next October 8th to fall on a Monday is actually going to be in 2018.

 

BUYING YOUR HOME DURING THE COLD MONTHS

The funny thing about buying a house during the winter months is that the homes can be a bit ugly, you know what I mean? Think about it this way; in the spring time, there’s blooming flowers, green grass, beautiful swimming pools, trees with a full head of leaves, and fresh nature roaming around! Homes are usually so beautiful and full of life! While during the winter months, a home can look a bit like death. There are no flowers, the trees and bushes are bare and ugly, the grass is crunchy and hard, the pools are green and covered up, and life is just lacking all together, am I right? That’s why most people go looking for homes during the spring time, because they feel good about buying such a beautiful home! That’s also why people start selling their homes, as well.

One way to look at buying a house in the winter is; if you fall in love with the home when it’s gloomy and bare, then you’ll definitely love it when it’s full of life and color! Plus, what better way to break a house in than to snuggle up in one? Light up the fireplace (if you have one), yank out a big, furry blanket and a nice, thick book and just relax with a big mug full of hot chocolate. Sit back and enjoy that new home of yours, my friend.

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