I am a first time home buyer, so I don't have to worry about selling a house to buy one. Next year I'm moving from my current home in Italy back to my home town in Ohio. I don't know if this matters, but Ohio has very cold and snowy winters and blistering hot summers. What is the best time of year to buy? Or does it even matter?
2007-07-17 21:23:08 · 6 answers · asked by Erica 5 in Business & Finance ➔ Renting & Real Estate
There is really NOT a best time to buy a house, it is really when you are ready. However, that being sad, you will find more homes on the market in the summer time (when school lets out) because families will have time to move and not have to worry about enrolling in school etc.
At this time, in the states, our housing prices are leveling off after several years of increasing home values. Many homes are sitting on the market. This creates motivated sellers. Work with a Realtor in the area you are looking to move back to. The seller pays the commission for the Realtor.
Hope this helps and Good Luck
2007-07-17 22:14:41 · answer #1 · answered by Anonymous · 1⤊ 1⤋
If the market does not improve in Ohio soon, ANY time of the year will be a good time to buy. Ohio is a state suffering from one of the highest rates of foreclosures in the nation, and the market is literally flooded with properties at this time.
Real estate prices are now depressed in Ohio and a good deal should be available for some time to come. Other than that, buying/selling slows considerably starting in early November and does not normally pick up until the end of January at the earliest. That would be the optimum time to find a 'very motivated seller'.
2007-07-18 02:07:54 · answer #2 · answered by acermill 7 · 2⤊ 1⤋
The only 'time' you need to worry about is whether the housing market is up or down. If it's currently up and housing prices are high, you might want to hold off purchasing a place - maybe just do renting for the moment?
Unless of course money is not an issue for you. I personally don't agree people should have to pay premium over and above the value of the place just because the market is good at that point in time.
2007-07-17 21:32:30 · answer #3 · answered by diagnostix 3 · 2⤊ 1⤋
I don't think there is a bad time to buy in the Great Lakes states. Of course most buying is going on now, so families can relocate before the school year starts. Prices are a bit softer in the winter, people don't want to move in the winter. (Been there, done that - it was awful)
2007-07-18 09:05:10 · answer #4 · answered by godged 7 · 1⤊ 0⤋
I don't think you should try to decide based on the seasons. Look for the house you want, when you find it and agree on the terms, then thats the time to move. Pick a time that is best for you.
2007-07-17 21:28:01 · answer #5 · answered by mmrn 4 · 1⤊ 1⤋
when you have a big down payment in your hand......
2007-07-18 03:08:33 · answer #6 · answered by DennistheMenace 7 · 0⤊ 1⤋