Chicago Real Estate

The Best Time to Purchase a Home

Invest in December

      To say that entering the real estate market as a possible buyer is intimidating is definitely an understatement.  With so many options available along with the task of aligning your needs versus your wants to your new investment, it’s a lot to take into consideration among many other factors.  One of the leading make or break it terms is, of course, the pricing of a home.  However, it’s important to understand that the pricing of a property can fluctuate throughout the year depending a multitude of factors.  Investing in a property at the end of the year, ideally December, is a beneficial recommendation to ensure an advantageous result.

Less Competition

      Competition is a key driver in the real estate market.  Whether you are buying or listing a property, it can help or hurt your situation.  As a potential buyer, less competition is a win-win for your situation.  It’s shown that buying real estate towards the end of the year is not as popular as other timeframes.  Due to that, competitiveness fades.  There is more room to leverage negotiations for a buyer to lead and the closing price possibly being in your favor.

Lower Rate Charges

      In support of saving money and a seller’s desire to finalize a deal before the New Year; tax deductions and mortgage terms may have some may have potential to be reduced.  With the holiday’s being the main priority for most, the regularity stipulation with mortgage lenders are at a low.  This may allow the opportunity for decreased rate charges.

Best Month to Close Deal: December

      Furthermore, as a buyer, taking the above tips into consideration may lead you to not only the investment of your dreams, but also with some extra cash in your pocket.  Timing is always an important considerable factor when it comes to all things real estate.  December is most likely the best month to close a deal on a property.