If you live in Sacramento, CA, and you’re thinking about purchasing a home—either for the first time, or as an upgrade—you’re probably concerned more about where your home is located.
However, if you want to be smart with one of the biggest investments most people will make, you should also be thinking about when you should buy your home. And October could be one of the greatest times to do it.
While Sacramento, CA is fortunate to benefit from milder California weather, that doesn’t mean that there aren’t seasonal factors at play in the real estate market. The part of the year that a home goes on sale can play a role in the pricing of housing, to your benefit, and here’s why.
Better Negotiation Chances
The peak time for home sellers is spring, especially the month of May. This is because many people will be looking for homes to purchase, but still give them enough lead time to move in during the summer, especially if sending kids to school in September is a priority.
This is why when October arrives, many people with homes still on the market realize that this is the time buyers are willing to be competitive about pricing is largely gone. Now, if a seller wants to make a sale, there has to be a bit more “give” in terms of pricing, so negotiation is much more flexible for home buyers who are coming in just as the “slump” for the seasonal market begins.
Home Inspections Are Easier
As the weather cools down, it becomes much easier for home inspectors and HVAC specialists to give you an accurate rundown on the energy efficiency of a potential home. When it’s blazing hot outside, as during the summer, it’s much more difficult to find the leaks and drafts in a home that can impact both heating and cooling. Once things cool down, however, drafts are easier to detect, and you get a much better picture of a home’s condition, and potential worth on the energy efficiency front. You may even find that a big problem with a drafty home can affect the pricing of a home if it comes down to negotiations or alert you that this is not a home you might want to purchase after all.
When you buy a home, even if it’s later in the year, you can apply that payment in property taxes and/or interest or points towards offsetting your income for that year. You’ll want to talk to a financial advisor about the different ways to go about this, but it can be a real leverage point for you in the next tax season, when April rolls around.
Get More Attention
Because this is a slower period for the market in Sacramento, CA, it also means you’ll be getting more time and attention. Inspectors, lenders, even moving companies are all dealing with less busy schedules, meaning you can often enjoy a bit more focus on your needs. And that’s exactly what you’ll get from AP Mortgage for your financing needs. Contact AP Mortgage loan officer Jeremy Williams today!
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