WHEN IS THE BEST TIME TO PURCHASE A HOME?

There are a lot of differing opinions about the best time to purchase a home.

The National Association of Realtors states that the majority of homes are bought and sold between April and July.

In the late spring, families are preparing for the end of the school year and summer vacation.

A lot of homeowners put their property on the market during the spring and summer months because they don't want to move during the school year.

Most sellers don't want to move during the colder months when they may have to deal with autumn and winter storms.

Late April and through the summer are the times you're more likely to find a home that suits your criteria and your budget when there's an abundance of homes for sale.

Some homeowners want to make improvements on their property before they put it on the market and take advantage of holiday sales …

… to purchase what they need to spruce up their home and make it more attractive to buyers.

Data shows that homes that are listed in the spring have a higher sales rate, and a buyer is more likely to pay your asking price.

A lot of potential buyers have gotten tax refunds and have funds for a down payment.

In some cases, you can find homes within your budget between the Thanksgiving and Christmas holidays.

Homes that are listed in November and December usually have price reductions because they didn't sell at the buyer's asking price earlier in the year.

A good tip for house hunters is to make an offer on a home in January.

After the Christmas holidays, most people aren't actively searching for a new home. Most sellers are hesitant to list their homes in January.

Due to inclement weather and the fact that a lot of potential buyers aren't actively looking for a house, most homes don't show very well.

Since there's less competition for homes, a seller is more likely to accept your offer.

Another good time to buy a home is when it's more financially sound for you to own rather than rent.

You can make a comparison with a rental property and home for sale with similar features and in the same price range.

Divide the asking price of the home for sale by the rent for one year of the other home.

The best time to buy a home is when you're financially stable.

When your debt to income ratio is under control and if you're free of debt, you may start thinking about buying a home.

It helps if you can get pre-approved by a lender when you begin searching the real estate market.

You should put money aside for a down payment as early as possible when you decide to buy a home.

Ideally, a 20 percent down payment is preferable, but some lenders will approve you for a down payment of 10 percent.

If you're looking for an urban condo or high rise in Phoenix, Scottsdale or Tempe AZ contact the urban specialists at We Know Urban.

Their realtors are experts when it comes to urban living.

Visit the site to learn more about condos for sale. http://www.weknowurban.com/

Will Daly, BrokerWe Know Urban Realty, LLC834 E Claremont Street, No 3Phoenix, AZ 85014(480) 510-8755Email: Will@WeKnowUrban.com