When Is the Best Time to Buy a Home? Save Thousands This Season!

I want to answer a very simple question for you today. And the question is, when is the best time to buy a home during the year, during any one year? Is it the spring? Is it the summer? Is it going to be the fall? Is it going to be the winter? There's going to be a right answer to this, especially with respect to first-time home buyers or investors who don't want to put up a lot of cash when they're purchasing a primary home or investment home. So, when is the best time to to buy a home? This is going to be a short video answering that question. I'm going to show you why this is the best time to buy and get your best deals, best negotiating postures, best most expanded seller concessions, lowest cash to close the whole thing. And if that's of interest to you, share this video and let's kick off this rodeo right now. I'm Kevin Faget. I'm the mortgage patriot on your side nestled here in the Hill Country above San Antonio, Texas. serving all you proud Texans and all you great folks all around the country. So, another great one today because we're going to talk about when when is the best time to buy a home during during the year if you have a choice. That is I understand of course some people might be forced into a certain move given a job change of circumstances and so you have to be at a certain place at a certain time or maybe you're military what have you and you have to go per orders to a certain location. So, plenty of times you're locked into your timeline. I get that. But if you don't, I see a lot of people struggling to get their financials together in the right order so that they can buy right away for a certain purpose. And I've told people privately now for years, there's a best time to buy in the year. And I'm going to reveal that to you over the next couple minutes here. So, let's get into that content right now. But before actually we do that, if you hit the like and subscribe please, that really brings up my YouTube channel with the algorithms and brings resources to you and other folks that are like you that are just trying to find the answers to some of their questions on trying to buy a home for the first time or even a second time or investors in this case. So hit the like and subscribe and let's get into all that content right now. So rather than drag on the suspense of this question, I'm going to answer it right now. The best time to buy a home during the year in my opinion, and I'll explain why, is at the end of the year from the months of November, December, and January. And I'm going to make the case over the next couple minutes as to why, and it's going to save you a lot of money. Now, this particular strategy works the best for those that are really trying to buy a home for the first time and lack the the capital, you know, to really write a check at closing of any consequence. And it also applies to investors. are going to be wanting to buy something right at the end of the year so they can fix it up over the next couple months and put it into the buying season, so-called buying season, which starts kind of in late spring and runs to the end of summer. So, let's get into all those reasons why I'm going to tell you you're going to be doing yourself a favor to buy a home for the first time in November, December, and January. Okay? So, why do I say November, December, January? And the answer is that is the best time and maybe the only time. Listen very carefully. maybe the only time that you as a buyer have the advantage over the selling party all the time in the other quarters. Let's let's define them by quarters here in the year. So let's go February, March and April, May, June, July, August, September, October, and as we mentioned, November, December, January. Let's use those four quarters. The November, December, January quarter is the one time that you as the buyer have the most absolute leverage and potential to negotiate the best deal by far than any other quarter. Okay? So that just understand that this whole concept revive revolves around how much leverage you have and how much negotiating power you have during the year and it comes at the last three months. And by the way, since I'm going to be talking about negotiating now, here's a great video that I did not so long ago where negotiate like a pro where I break down all the different aspects of a contract of a purchase of a home that you can negotiate. It's not just about price. There's price, there's seller concessions, there's even furnishings and so forth. So, watch that video. That's also very instructive. But here again, let's talk about why during that last November, December, January period is going to be the most favorable in terms of negotiation. And I'm going to use this all in the context of an example because it's just easier to show in the form of an example. So, I'm going to use a $300,000 house as an example all the way through the remaining of the video. We're talk about even if you're an investor buying a rental home or if you're a primary home buyer as a first-time home buyer, the strategy is going to be the same for you. So, here we go. Let's talk about supply and demand as it relates to how easy it is for you to get the best deal at the end of the year. So most buyers start out looking for their homes typically in the months of April, May, June, and July, and a little bit of August. That's what we call the buying season, right? And in that period of time, buyers outstrip the sellers. Demand outstrips the supply. And so therefore, it's always a advantageous market for the selling party, not for you, the buying party, because the sellers have more people competing on their home. The selling party loves that. They call it a sellers market and sellers can raise their prices accordingly, right? Because now buyers are bidding up the price because there's more buyers in the pool. I if you put they put up a home for $300,000, they might get, you know, five people interested in it at different price levels. Yes. Maybe some of them above 300, but some of them below certainly. and there's bunch of negotiation terms going on. But the selling party doesn't have to mess with everybody if somebody if they get a low ball offer for example because there's more there's more demand out there. That should be just a a natural consequence of what we call the buying season is not the best time to be buying if you can avoid it because there's more demand than there is supply. That's just the bottom line there. So let's put some numbers to our example. So, for example, you like a home and it's in May of the year in the month of May for $300,000 and you have a normal balanced market, but we're in the middle of buying season now. And so, there's competitors for this home. your negotiation leverage is very low during the buying season and you want to buy it at $300,000 but without any help, meaning without any down payment assistance or without any seller concessions, you're going to have to write a check at closing probably for about 21 to $22,000 somewhere in there for all your down payment, your closing costs, your escros, that whole thing. Okay, that's a pretty good chunk of change to be writing, you know, writing a check for. And you as a first-time home buyer or even investor that don't want to spend all the money, you you don't want to do that, right? So, you want to negotiate for seller concessions, and you're allowed up to 6% seller concessions on an FHA loan, for example. So, 6% of $300,000 is $18,000. So, theoretically, you could write into the contract as a negotiation, I'll give you $300,000, but I want $18,000 back for seller concessions. This is the month of May. Now, remember what are they going to tell you? Well, they're going to slash through that $18,000. Say, "No, we're not about to give you that much money." Why? Because we've got another guy right behind you that doesn't need that much seller concessions. So, that's why it's very hard to get an expanded amount of seller concessions during the buying season. So, a more realistic number might be $5,000 as a seller concession. So, you're leaving all this, you know, $18,000 down to $5,000. you're leaving $13,000 potential available to you if you really maxed out your seller concessions um because you're buying at a time where you have to compete with other buying parties. Hopefully that makes makes sense. So your negotiation leverage is very low during the buying season. Hopefully I'm making sense to you here. So you don't want to be trying to buy into the teeth into the strength of the buying market, so-called buying market, because you're competing against all these other buyers, right? So you want to flip that on its on its ear and you want to buy be buying when the supply outstrips the demand greatly. And when is that period? Well, again that is November, December, January. Why is that? Well, because all the sellers know they're pouring their houses on the market during the buying season, but they don't all sell, right? And so they carry them over to August, September, October, and now they start to get a little nervous because maybe some of them haven't sold yet still. And so that same selling party that's trying to sell their home back in July for $300,000, but you know, came on the market in July, didn't get an offer, maybe got one offer in August, but it fell through. So now we're in September, October, and that seller starting to get a little nervous now. And so when you start to shop around October, these sellers that still have houses on the market are sweating. They won't tell you that, but they're they're starting to be desperate. Listen very carefully here. If they were not desperate, there'd be no reason for them to sell the house, right? And they would just take their house off the market and put it back on the market when at the start of the new buying season, March or April. So that's why if you see houses on the market in November, those houses are on there for one reason, because a seller has to sell. And when sellers have to sell, they are willing to negotiate big time. And so that's when you can get that $300,000 house. Not only can you get it maybe for$ 290 or maybe even better, but you can get a full 6% seller concessions. And so now you're buying that $300,000 house that maybe you was available maybe in August. You're buying it for $290, but you're not writing a check for $22,000. You're writing a check for $4,000. Where am I getting that number? Well, it's the 22,000 that you wouldn't normally need minus a full 6% $18,000 worth of seller concessions. You'd be writing a check for instead of $22,000 somewhere in the neighborhood of $4 to $5,000 because now you've gotten a full 6% seller concessions. Why? Because the seller has to sell. Hopefully, all this has made sense to you. And you know, savvy investors that buy for investment properties understand this fact. So that's why they they love to buy October, November, December, and early January. I'd like to hear your comments. comment below if if what your experience is with this. But I'm telling you, for 20 years of buying and selling homes, this is the time. So, uh, let myself or one of my teammates, uh, really help you to negotiate a deal. If you're looking at homes right now, I'd be I'd be saying do not wait for the spring. Try to be buying now because again, this is the best time to buy. You get your best deals, best negotiating postures, best most expanded seller concessions, lowest, you know, cash to close, the whole thing. This is the time. So, I hope all again, all that makes sense to you. I hope it brings value to you, saves you thousands of dollars. Call me. I'm Kevin Fe, the mortgage patriot. 2110-317-6514.