When to Buy a Home in Denver
If you’ve been considering a home purchase this year, you may be wondering if there’s an ideal time to buy. Luckily, there is an ideal time, and it’s during the late summer, early fall months. During this time, there are still plenty of homes available, but homeowners are motivated to sell before the winter.
Let’s talk about why.
Why You Should Buy a House in Late Summer - Early Fall
1. Overall lower prices. If the house has been sitting on the market for a while, once the late summer months come, the price usually drops. The longer the house sits on the market, the lower the price will be. This is great for buyers, especially when a seller initially prices too aggressively.
2. Opportunity for negotiation. As time goes on, sellers also become a lot more open to negotiating offers. Whether the current homeowner needs to sell quickly or they are tired of having their home up for sale, once fall comes, negotiation gets easier.
3. Avoid the holiday season. Everyone knows the winter is a dead season when it comes to home-buying. People are more focused on holiday-planning and family time than they are with purchasing a new home, so sellers have an interest in getting their home sold before the market goes to sleep for the winter months.
A lot goes into the act of home-buying, such as interest rates, down payments, and closing costs. If you’re a first-time homebuyer, it’s important to get pre-approval before you start looking for a home. With pre-approval, you have an idea of how much money the bank will lend you. Having this information will make your whole experience a lot easier and give you more power when you begin negotiating for the best price for your new home.