Deciding to purchase a house in San Antonio is a massive undertaking that cannot be taken lightly.
• First, you need to be financially prepared as houses are quite expensive, and you need to save enough for the down payment before looking for other financial alternatives.
• Secondly, you would want to buy a house that will make your life smooth and comfortable. You and your family will be spending most of your time in the house, and that’s why it should have everything that you need. You should always be proud of this investment.
Location and Price
The house should be located at a place where you can access essential amenity services such as schools, roads, and shopping centers. When it comes to price, you don’t want to buy a house that has a reasonable price tag. The cost of buying shouldn’t cripple your financial status. Although it might sound outrageous, time is one of the factors that determine the overall price of a house.
Did you know that the price of a house can differ by a significant margin within a few months?
The real estate market is quite volatile, and the cost of properties keeps fluctuating throughout the year. They can either go up or come downwards. It is obvious that as a potential home buyer, you want to save some good money when purchasing a house. One way of doing this is by buying a property at the time when the prices are low.
So, when is the most appropriate time to buy a house in San Antonio?
The best time to buy a property in San Antonio depends on several external factors which include weather patterns, projected buyer behavior and the rate of construction. The occurrence of natural disaster can also help you decide on the time that you should buy home. If these factors remain constant, real estate analysts have predicted the most appropriate time to buy a property in San Antonio. In most cases, their statistics are carried out by observing and analyzing the buying and selling trend from the beginning of the year. The statistics that they gather help them to make wise decisions.
Most real estate experts agree that the best time to buy a home is during the cold months. This is because most prospective homeowners tend to develop more interest in owning properties
during hot months. This is proven by a report that was published by realtor.com stating that the rate of sales is directly proportional to the temperature; the higher the temperatures, the more the sales. The research went ahead to reveal that at least 50% of the total sales take place during summer.
So, what does this mean to a potential property owner?
Higher number of sales means that more buyers are competing for the limited houses that are available in the market. Going by the law of demand and supply, an increase in demand ultimately leads to a rise in the price of houses. The situation can be worsened by the bidding wars among the buyers. As nature dictates, sellers will definitely sell their homes to the highest bidders. You don’t want to go through this no matter how good the property might be or how much money that you have. The situation can strain both your finances and deny you peace of mind.
Savvy buyers keep off the real estate market during the months between August to the end of the year and save that money until January when fewer people are venturing out to buy properties. This means that you have high chances of getting your dream house during colder months than in summer.
Given that there’s little competition among buyers, you can take your time to scout for the best deals in San Antonio and choose one that impresses you without worrying about stiff competition. According to the report published by realtor.com, the prices of houses tend to be lower as January approaches. This means that most home buyers get lucrative offers during November going all the way to December.
Type of Home
It is important to note that the type of a house can affect its price even during winter. According to the report, it was noted that many small and single homes are sold during winter. The number is way higher than larger family homes. This property behavior is linked to the public education cycle as it usually affects homeowners who have school-going children. The high demand for small homes means that you can’t be sure of lower prices even during winter. To capitalize on the effects of the education cycle, sellers with large family houses put their property up for sale during summer.
Such houses tend to attract high price tags. High home sales are also recorded between April and August. Most families don’t want to cause a major interruption in the lifestyle of their kids as such months provide a perfect time for children to choose new schools and even friends.
Real estate experts agree that sellers who list houses during winter are always open to low price tags, hence their houses may be quite affordable.
Sometimes such sellers are deemed to be desperate. In fact, most real estate agents usually advise homeowners to pull down their houses from the market during such periods and wait till the prices go up. Buyers can get friendly prices for such houses. The only downside is that you will have limited choices since only a few houses are listed. It is clear that before you buy a house in San Antonio, you need to be extra vigilant about timing.
Waiting for the perfect time can help you bag the best deal for your next house. Buying when the sales are high means that you will have an opportunity to survey plenty of listed homes. However, you will deal with a higher price tag as compared to seasons that experience low sales.