Home-buying seasons vary, but it’s ultimately up to you

There are good reasons why people believe the best time of the year to buy a home is during the spring and summer. The weather is warmer, the transition to a new school is easier and more houses appear to be on the market.

Others, however, say the fall and winter are actually better seasons. While the number of homes for sale are generally fewer than in the spring and summer, the type of potential buyers out visiting these open houses tend to be more serious buyers who ready to close a deal soon rather than later.

Ideally, the best season to buy a home depends on the individual homebuyer’s situation. Individuals should set their own timetable for buying a home by targeting the date they want to be in their new house and then working backward from there.

The length of time it takes to close a loan varies by region and by lender. Typically, it will take about 30 days from the time the seller accepts an offer for the transaction to be completed. Potential buyers must also factor in the amount of time it will take to search for a home. This could take weeks or month, depending on the housing market conditions and prices in that city.

You’ll also have to consider the new home, too, in your reverse timetable. Do you need to do minors repairs, painting or touch-ups before you move in? Depending on the amount of work, you’ll need to add days or week to your move-in date.

Travis Credit Union’s mortgage loan consultants can walk you through the home-buying process, step-by-step. Visit our Real Estate website for more information. In addition, fill out this contact form and they’ll be in touch with you shortly.

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