When will be the best time to buy house?

Answer 1

There is no one answer, as the purchase decision is driven by a number of factors, including market, economic and personal.

Market factors include what is currently happening in the geographic location and neighborhood you're looking to buy in. I live in Northern California (SF Bay Area), and our market factors are wildly different than Southern California. And even in the Bay Area, factors and trends in Oakland, San Francisco, Walnut Creek and greater Silicon Valley are so diverse that making general observations is really futile once you go past the obvious and superficial. Narrow that down to the particular neighborhood (s) you're interested in and another layer of complexity enters.

Financial factors, as others have noted, include the general interest rate climate and the effect the Fed has on rate increases. Well and truly, a seemingly small move by the Fed and resultant effect on the broader financial markets can mean the same house can only be obtained using different financing tools (i.e., a hybrid or adjustable rate instead of a fixed rate), or can rule out some neighborhoods entirely (if rates increase dramatically in a very short period of time...which they can). Take into account your own resources, job/career outlook and credit history (none of which typically change quickly) and you can see how a very small interest rate change (up or down) is amplified by an order of magnitude (much like a lever in physics).

Finally, seasonal and personal factors include the generally-held contention that homes go up for sale as the weather warms (which may or may not be valid) and your own reasons for moving and/or purchase, whether you have children in a school you want them to finish the school year in, external job pressures (relocation, associated incentives offered by employer, etc.) and other similar considerations.

As such, it is difficult to provide more than "rules of thumb" which may be of more use because of exceptions to the rule than for the rule itself.

I have been involved in the real estate industry (sales, finance and executive roles) for over a decade, and have helped hundreds of families make these kinds of decisions. Basically, one size does NOT fit all when you talk about this topic.

Answer 2

there are many contributing factors. Are you looking for a convenient time to move? A good interest rate? Or an investment? The best time of the year for a move is in spring or fall because of the weather, it's pleasant. Right now interest rates are low so anytime in the next few months is good, weather it's hot or cold. If you're looking for an investment property, the best time to buy a house is in an area that there are future plans for some type of development that will bring attraction to the area, for instance, there was a huge entertainment area with a giant movie theater, and actual theater, clubs, and fine dining just built in a previously shady area of the city, and down by the river, all the homes in that area doubled in value just because now that is a happening part of town.

Answer 3

Depends on where you live. Right now rates everywhere are soaring to the highest since we've seen since 2002 and slated to go even higher.

If you NEED to buy a house, do so now before they go up again. If you can wait, then wait to see what the market does in another six months or so.

In my area, it's a buyer's market, so picking up something at a decent price is likely.

Answer 4

"to construct a house or a hotel, the participant ought to very own all properties in a colour team. progression must be uniform for the time of a monopoly, such that a 2nd homestead won't be able to be geared up on one property in a monopoly till the others have one homestead." I have been on condition that from Wikipedia. I extremely have performed this interest considering the fact that i replaced right into a sprint baby, and that i've got performed different techniques with different human beings. at times we performed like your mom is describing. different circumstances we would purchase despite we ought to have the money for, yet you won't be able to positioned a 2nd homestead on a property except all the different properties have one homestead already on it (like Wikipedia says). wish this helps.

Answer 5

This all depends on where you want to buy and of course the rates.

Around here the same house in different neighbourhoods could have a $20,000.00 price difference, so make sure you check into that first and I wouldn't wait too long as mortgage rates are on the rise.

Good luck!

Answer 6

Between June and September people put the most up for sale and are sold. Because people want to get moved in before their kids start the next year of school. As far as getting a better price you will need to wait until winter they will be tired of having it listed and you'll get a better deal.

Answer 7

In the UK

during the winter, everyone tries to sell their house during the spring, so prices rise.

in winter houses look worse, hence the springtime rush.

also if you buy your house in spring it might look bad in winter, so if you buy in winter, you'll be surprised come the spring.

and NOW

House prices are raising faster than any salaries

Answer 8

When you can legitamately afford it: 20% down, fixed mortgage, 0 points. The more important question is WHERE to buy.

Answer 9

Winter. Spring is a sellers market. Winter listings do not move as fast and it is more of a buyers market.

Answer 10

Now before the rates go up anymore you will save a fortune.