Waiting to Buy a home in the Spring might cost ya!

Buying a house in 2015? Thinking about waiting until after the Winter months? Think again…

Why waiting to buy a home in the Spring instead of right now could be costly.

I was speaking with a client who is going to buy a home this year and she remarked that Spring is when she wants to start her search. I immediately asked her why Spring? Her response was, “The weather will be warmer and there will be more houses to look at.” I’ve heard this statement probably a bagillion times when I speak with home buyers around this time of the year.¬†

When I illustrated to her with more homes comes more buyers. She looked at me with a bit of concern. “What does that mean?” she said. Well, first off, more buyers mean more competition for that special home. Secondly, more buyers may mean higher prices and even bidding wars. Now she looked very concerned. I continued to explain that as the weather gets warmer, the idea to buy a home in the Spring gives home sellers the leverage when it comes to negotiating as more buyers compete for their homes.

Timing the market and trying to buy a home in the Spring can also bring higher interest rates!

Now I had her undivided attention! I then explained how most home buyers will already have their tax returns in hand and will also be looking to buy for the tax benefits to boot!

So, what does buying a home now vs. waiting to buy a home in the Spring really look like on paper?

I explained the tax benefits of being able to write off your interest on your mortgage as well as tax incentives of writing off repairs and other house related purchases. Next I helped her understand that building equity now while demand was still low means that the increase in value when Spring sprung would be money in her pocket that much earlier!

So you want to wait to buy a home in the Spring?

Long story short…we started our home search last week and ¬†presented an offer on a beautiful house that only had a few showings and a very happy seller that gladly accepted all our conditions and even got it at below asking price! Not bad for less than a weeks worth of work and a great conversation!

 

 


Janet 
SimonsI am passionate about Real Estate and eager to answer all of your real estate questions! Text or Call me at 360-880-2356 or email me directly to ask about Buying, Selling or Investing in today's Real Estate Market - serving Lewis County & Thurston County, WA.

Janet Simons | Certified Residential Specialist | Real Estate Broker
Mountain Valley Real Estate