When is the best time to buy a house? The flip answer (no
pun intended) is “whenever you can afford to do it.” But "afford"
isn't as simple as what's in your bank account right now; a host of other
financial and lifestyle considerations should figure into your calculations.
The seasons of the year can also factor in to the
decision-making process. If you want the widest possible variety of homes to
choose from, spring is probably the best time to shop. “For Sale” signs tend to
spring up like flowers as the weather warms and lawns turn green.The reasons
are obvious, especially when you consider families waiting to move until their
kids finish the current school year.
The most recent Housing Opportunity Index report released by
the National Association of Home Builders indicated that 61.8% of homes were
affordable in Q3 2014. This is based on 30-year fixed rates, good credit and
families earning national median income of $63,900.
When you factor in all these elements, “whenever you can
afford to do it” starts looking more complicated than it first appears to be.
But considering them now can prevent costly mistakes and financial problems
later. Of course, there is one best time to pounce: When you find the perfect
house in the perfect place for sale – at a perfect price.
No comments:
Post a Comment