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  • Writer's pictureCourtney Roberts

When is the best time to buy? (Hint - it's when you're ready)

Whenever we talk about buying a home, there is always a lot of talk about the "best time" to buy. Historically, home prices are at their lowest in the winter, but this is also a time when the inventory of available homes tends to be low. Spring is traditionally when the most houses go on the market, resulting in the highest inventory of the year and the best selection for you.

Beyond seasonality, market conditions are important to consider. Right now, mortgage interest rates are at near-historic lows, which will save you money on your monthly payment. Housing prices are also on the increase here in our community, which means that if you buy now, you'll immediately begin building equity.

In my opinion though, there is no such thing as a guaranteed best month or best season to purchase a home. I personally think that the best time to buy is when you find a house you love and you can afford it.

It's critically important for your credit to be in good shape before buying a home. Save up for your down payment and make sure that you can comfortably handle a mortgage payment. You should feel secure in your employment and income, and be prepared to handle the various costs related to home ownership. (see our article HERE on 5 expenses that can surprise first-time home buyers)

The most important thing to remember is that the optimal time to buy a home depends on what makes the most sense for you and your situation. Nothing is worth rushing into a decision, paying a higher interest rate, or ending up in the wrong house.

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