When is the best time of year to buy?
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Anonymous
| When is the best time to buy? Now, end of summer, or fall? TIA. [b] |
Anonymous
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When the house you like is for sale. it's not rocket science.
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Anonymous
| And when you have the money. |
Anonymous
| OP here. We are currently renting a place we love and don't want to move. We were thinking about purchasing a house as a rental property. I am wondering if there are certain times of year when it is best for buyers. |
VArealtor
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It all depends on your priorities. Many families want to buy in the Spring - Summer so that they are in their desired school district by the start of the academic year. If you want to buy when the market is not so hot, and with less competition, Winter is better although it poses its own moving challenges as well.
If you're happy renting there really is no rush to buy. As some previous posters noted, however, the best time to buy is when you find a house that you love and suits your lifestyle. When I was in your position - that is, renting and considering moving - we went ahead and got pre-approved for a mortgage and just kept an eye on the market. Eventually the perfect house did come along. Good luck in your search! |
VArealtor
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Just saw this post. Before you decide that you want to pursue an investment, rental property do look up the laws in your area. Oftentimes the laws are cumbersome and not very landlord friendly. Now couple that with the costs of maintaining a rental and it might be more of a hassle than it is worth and in some cases, not such a great investment. There are occasions when it makes sense like if you know that a new company will be moving into the area within the next year, or you predict that a certain neighborhood will develop favorably, etc. These are gambles, however. Also remember that if you get lucky, these are all long-term investments and you will initially be breaking even (depending on your market, possibly not even after you factor in costs). Do as much research as you can before jumping in. |