Is January a Golden Time to Buy Your New Home?

All throughout recent, and not-so-recent history, people tend to want to buy a new home most during the spring and summer months. Typically, this is because the warmer weather, fewer school disruptions for families, and there is usually a larger market for homes at that time. However, January has its own perks, too. While buying at the end of a year is something that could benefit you (especially come tax time), there is also something to be said for buying first thing in the new year, too.

Prices Typically Rise as the Year Pushes Forward

No one wants to move right now, but as the weather gets warmer, the idea is something people are far more open to. If you have nothing holding you into the house you currently live in that would make moving later more appealing, you may want to look at the market now. Many wait for their children to be out of school, but if you look in the same district or do not have children, you can bypass this problem. As the year moves on, the prices are going to increase on nearly all properties due to the fact that demand will also increase. Buying now may give you a bit of an advantage in terms of getting more house for the money.

Fewer People Look When the Weather is Cold

On top of there being a financial incentive, you also have fewer people you have to compete with now. When the weather outside is less than ideal, people want to stay put in general. They do not want to be out carrying furniture or boxes up and down the ramp of a moving van. If you want a specific house or to look for a home in a specific neighborhood, there are likely going to be fewer people you have to try and bid against. This means that you are more likely to get the home you want, where you want, for a price that is lower than you would find later in the year.

You May Have More Bargaining Power This Time of Year

Right now, many parts of the country are cold, which makes wanting to move a bit more of a drag. However, if you are looking into a market where some houses sat since the last warm spell, you may have an ideal situation on your hands. The houses sat for a bit, likely unoccupied, making it to where the owner had to go through and pay for that house while living in another. This gets expensive. They may be a bit more willing to negotiate on price or home fixes if you talk to them about a house that has been on the market for several weeks. It never hurts to ask, so long as you do so respectfully through the right channels, which your real estate agent can help with.

Mortgage Rates Could Follow the Increase of Demand

With so few people looking to buy a home right now, mortgage rates are likely to stay where they are for a little while. However, as soon as the demand begins to rise, there is always a chance that mortgage rates could follow. With this economy, nothing is certain, but it is something to at least consider. Buying now guarantees you the current rates, which may be a real money saver down the line.

Real Estate Agents Are Less Busy, So They Can Help Customize Your Search More Effectively

As the number of people looking for a new home rises, so will the number of hours that each real estate agent puts in during any given day. This means that your ability to sit down and talk with them may be a little more hit or miss. If you look into buying now, in this early part of the year, you are more likely to have someone sit down with you and help you figure out exactly what you want out of a new home. They will ask questions about what you want and what you need, and send you a list of homes that are very close to your desires. As they have less time, this list may be a bit broader, meaning you have to narrow down your search on your own a little more.

There is also the consideration of finding the right real estate agent for your needs. For those who identify as any part of the LGBTQ community, then you want to make sure your specific and unique needs are met with your real estate agent. One place to turn is www.GayRealEsate.com, which is a website fully dedicated to matching home buyers and sellers with real estate agents who identify as part of the community, or are welcoming to the community. GayRealEstate.com has been helping members of the LGBTQ community connect with qualified and professional real estate agents since 1991.