Knowing the right time to buy a house is just as important in the home buying process as knowing what house you’re going to buy, where you’re going to buy it, and how you’re going to buy it.

Why the “when factor” is important?

As with most financial endeavors, timing can be everything, and that goes double for landing a dream home. Pricing, interest rate levels, the calendar month of the year, and your own personal cash situation all can factor in on when to buy.

To a prepared home buyer, there’s often a vibe on the time to purchase a home – conditions like cash and opportunity are optimal, the seller of an attractive property is willing to sell at a good price, and the buyer’s personal life (i.e., newly married, expecting a new baby, or just got a big bonus, for example) is in a place where the time to pull the trigger on a new residence is now – and not next month, or even next week.

Reality also dictates when to buy a new home. For instance, your employer has relocated you cross-country and you start your new post in two weeks. In that scenario, the time to buy really is right now, or you may not have a place to call home for a while.

The Best Times to Buy a Home

There are multiple factors that go into the “when to buy a home discussion.” The following factors are among the most critical, and should be evaluated first.

Early in the Year

The calendar is a good barometer for the best time to buy a house.

In general, prices are less expensive at the end of the year, especially in December. Primarily, that’s because the inventory that’s on the market comes from owners who have to sell, and are more willing to negotiate.

That could mean an owner whose company is transferring him or her to another state, and the owner must move fast. Or, the homeowner is hard up for cash, and can’t afford to wait until the traditionally busy spring home selling season.

The takeaway on the late-year calendar issue is this – people who are selling their home in November and December, in the midst of the holiday season, are often selling because they have to. Buyers can take advantage of that scenario and cut a better deal on a home price later in the year.