This article was brought to you by Karl Kennedy - Author of ProjectorTop.com

When renters decide it’s time to buy a home they’re often ready to start looking the same day. There’s nothing wrong with contacting a realtor immediately. Almost always you’ll find at least a couple of homes on the market that meets most of your criteria.

However, what you might not realize is when you start looking for a home there are times that are better than others.

Summer and Fall Home Shopping

The real estate market is generally flooded with potential homebuyers in the spring and early summer. This means that it’s a sellers’ market and this isn’t always a good thing for buyers. Home prices during this time are generally set at the property’s value and can go higher if buyers get locked into a bidding war.

The real estate market typically turns to the buyer’s advantage in late summer and fall. There are still plenty of properties for sale, only fewer potential buyers. The sellers are more willing to reduce their asking prices. It’s not uncommon for buyers to find properties with one or more price reductions.

The properties aren’t being reduced due to problems with the home. Sellers are more eager to close the deal before colder weather arrives and potential buyers disappear until the spring.

These reductions can also help buyers afford homes that would have been out of their budget range in the spring.

The Best Day to Buy a House

For some buyers, their new home is a Christmas present. The best day, statistically, is December 26^th. The day after Christmas is one of the slowest for sellers since very few people are looking for a home during the holidays.

This is also the day, buyers can see home prices below market value. In some cases, it can be as much as 1.3 percent which equals discounts in the thousands of dollars.

Other days buyers want to pay attention to are Mondays and Fridays. Sellers are also more likely to discount their properties below market value. However, mid-week home sales are typically at or close to the seller’s asking price.

Location Can Affect Price

Homes located in warmer climates often aren’t reduced in the late summer or fall since sellers aren’t afraid potential buyers will hibernate during the colder months. However, this doesn’t mean that there aren’t still deals available.

You might have to adjust your desired location and settle happily into another neighborhood. Zip codes do affect home prices and this is something that you will need to consider. A smaller home in a desirable neighborhood can cost more than a larger one located further outside the city.

The suburbs might be further away from the action in the city but sellers will often find that they get a little more for their money. Sometimes this can include a little more acreage, a backyard pool, or even projectors for home movie nights. (This buyer’s guide might be useful if you are thinking about purchasing projector for outdoors).

These bonuses might not have been on your list of things your new home must have but can be great surprises.

Conclusion

If getting a great bargain on a new home isn’t as important as having plenty to choose from, then it doesn’t matter when you start looking. If you are more interested in getting a good deal home buying in the late summer or fall is your best option.

Whenever you’re ready to look for your new home, we are here to help you find the right property.