In this article, Hometown Lenders – with locations in Lexington, Kentucky (KY) and the surrounding areas – is here to help you answer the question of when is the best time of year to buy a home in Lexington, KY. Contact us today for all of your mortgage lending needs!
Timing is crucial when attempting to purchase property. As a buyer it is
advantageous to know what season provides the most benefit for home buying. Not
only is there a season that is best for purchasing, but there is one day that
is analytically best as well.
The best time to buy a home is in winter. During the fall there is an
increase in the number of listings for starter homes, but it beneficial to
wait. Buyers will be able to get better deals if they
were to hold
off on making an offer until after the holidays have passed. Every
type of residence experiences a drop in pricing to their lowest level by the
end of December. This is due to the fact that homeowners with houses that have
been sitting on the market since the summer tend to become highly motivated to
sell in the winter. This means that they are willing to accept a reduced price
just to get the property sold.
It is recommended that first-time buyers start looking during the fall,
which is the peak inventory season. This allows them time to look at everything
that is available, then narrow down their list on what they truly want and need
in a home. By the time winter rolls around, the buyers should know exactly what
their requirements are and be able to find a property that fits their desires.
Once they find the perfect home for them, they then will receive the lowest
possible price for it too. So ultimately, you can start searching for your
ideal house whenever, but you will not receive the minimum price until wintertime.
While the winter season is the best time to buy a home,
the
optimum day to purchase a house is Christmas Day. People tend to be
in a better mood when celebrating the holiday. As they enjoy opening presents
and spending time with loved ones, they can be more inclined to be generous. Another
benefit is that typically no one is looking at homes the week of Christmas.
This means that the chances for competition or multiple offers are virtually
nonexistent. Buyers putting in an offer will have an edge if they are the only
applicant. Another contributing factor is that people that have a property for
sale over Christmas are serious about getting rid of it. They want the place
sold, so they may be more perceptive to any offer they receive.
Hometown Lenders is a local loan service and mortgage lender available to work with real estate
agents and home buyers. Our specialty is helping customers with mortgage
planning and mortgage loans. We are dedicated to providing the best experience
for our customers. We offer consistent, clear communication to our clients and
strive to find them the best rates. It is our goal to administer highly
personalized service that is unrivaled. We have locations in Lexington, KY and
the surrounding cities. Call us today at 859.475.1323 to
find out how we can help you.
