Ask almost any real estate agent and they will probably tell you that spring and summer are when you want to be buying your new home. But you must understand that they say this because in many cases, it is more beneficial to their interests. After all, in the spring and summer, there are more people looking to buy and sell, so this means an agent has a better chance of making more money during this time of year, especially when bidding wars occur.
If you really want to get into a new home in the New Year, then you might want to start the year off looking because January offers several benefits that the summer months do not. Here are four reasons why January is secretly one of the best months to shop for a new home.
Fewer Buyers to Compete Against
Most home buyers want to be in their new homes in time for the new school year and the holidays. Because the number of buyers drops off significantly in the winter months, this leaves you with less competition to worry about. The odds of you getting into a bidding war tend to be pretty slim.
Of course, this also means that inventory won’t be as high, so you will have fewer homes to choose from. But if you see a home you are interested in, you can be sure the sellers will be glad to receive your offer.
Personalized Service From Your Realtor
With the market less saturated with buyers, Realtors often find themselves with a lack of clients. By looking for a home in January, your Realtor will be so glad to have your business, she will provide you with outstanding service. Your Realtor will be quick to answer your calls, ready to show you homes at a moment’s notice, and help you get into your home much quicker than it would take in the warmer months.
Prices Will Continue to Rise
If getting a great deal on a home is important to you, then you don’t want to wait long into the new year before you start looking. Home prices will continue to rise as the months pass by. The home you find in January could wind up costing thousands of dollars more if you wait to put in your offer in April or May.
Interest Rates Are Low, But They Won’t Be for Long
Experts agree that mortgage interest rates are going to continue to climb through the year. So, this is another reason why you don’t want to put off shopping for a home. The home you buy in January will cost a lot less every month compared to buying the same home later in the year, even at the same price!