When is a Best Time to Buy Your Dream House?

By Kunal Chhibber —

Purchasing a house is the most important and probably one of the biggest investments you will ever make in life. If your timing is right then you can save a lot of money without any hassle. Spring is one of the busiest times in the calendar of real estate, which means there are a plenteous new properties introduced in the market during this time. Other than the seasons, have you also:

Checked your credit rating? Checked whether the prices of the property are rising or falling? Is the market close enough in the area you looking forward to buy? In this post I will mention few other factors and their timings that will have an impact on your buying decision.

Interest free loans and Tax credits

Government schemes and tax credits are not available always, so it would be worth finding out some schemes which will be coming around the time you are looking to purchase. Visit all the websites of the Home Buying Institute to check if they have entitled you for any loans, perks or any tax credits.

Mortgage down payments

Many mortgage lenders want that buyers should pay at least 20% of the total amount. Are you having that much amount that you pay the down payment right away? Would family or friends be willing to give you some kind of loan? If no, then it is not best time to buy a house.

What is your credit rating?

In the year 07, buyers use to get a mortgage with quite less credit rating than they could in the year 09. What is your credit rating? Can you do something to improve it? You can do one thing, monitor your credit rating and try and purchase at that time when that benchmark is lowered.

Were you bankrupt lately?

It is almost impossible to get the mortgages if you were bankrupt in the past three to five years. In that case raising the money for a house without a mortgage or other loan is impossible, and again it is not the right time for you to buy a property.

Timing and seasons

As mentioned above, spring is the busiest time to buy a property. You will find many houses, and sellers offering you some good discounts. At the same time, plenteous buyers will be interested in property you like. If we talk about specific month then it is July, and this is because we have seen that many movers and shippers often raise their prices in this time period. Christmas is also a good time to make an offer, as sellers at this time tends to be more generous and flexible.

Kunal Chhibber is a professional content writer with expert skills in digital marketing. He has also written many informative write-ups doing exclusive research on Real Estate sector. He is a graduate in management; music is a passionate hobby to which he is committed to as a part time Disc Jockey.