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When Is the Best Time to Buy a House or Build One? A Helpful Guide
Monday, July 27, 2020

A total of around 6 million new and existing homes were sold in the US in 2018.

Buying or building a new home is a hugely exciting undertaking for anyone. However, before you embark on this journey, it's important to consider your timing.

So, what is the best time to buy a house, and what is the best time to build one?

Read on as we look at the answers to these questions.

What Is the Best Time to Buy a House?

If you're a buyer, your goal is to get as much as you can for as low a financial outlay as possible.

The first ingredient here, therefore, is price. Price levels vary, and it's always possible to get a good bargain if you look hard enough. Generally, however, house prices are at their lowest in the fall.

The other consideration is the selection on the market. While autumn is the cheapest time to buy, it's also the time when the available selection is poorest.

Summer is the time when most homes come on the market, but it's also the time when prices are highest.

To strike the balance right, you'll just have to commit to the process. Keep an eye on the market and learn to know a bargain when you see one.

What Is the Best Time to Build a House?

Building a house carries its own distinct set of challenges. Many of these are closely related to the passing of the seasons.

Not everyone agrees completely on the best time to build a house. Certain builders have their own preferences, and the part of the world you live in also has to be taken into account.

However, there is a general consensus that the best time to do the bulk of home-building work is during the summer.

Days are longer during the summer, giving you more time to get everything done. The lack of rain also means that there will be fewer stoppages in your working day.

However, in order to ensure that you are up and running by the summer, you may have to start in March or April.

Will COVID-19 Have an Effect?

The housing market, like almost everything else, has undergone significant change due to the COVID-19 pandemic.

From a logistical standpoint, the purchase and sale of existing homes has become more difficult. Because of physical distancing guidelines, going to view a home is now impossible in many cases.

However, the pandemic's economic effects are likely to drive down prices in many areas. This will suit buyers whose income remains unchanged.

In terms of building, there are also huge issues posed by movement restrictions. Construction requires close collaboration between laborers, which is now impossible in a lot of cases.

Our Facebook page has more information about how we're approaching construction during this crisis.

Making the Most of Your New Home

The best time to buy a house depends on a number of factors, as does the best time to build one. Many of these are applicable across the market, while others will vary depending on your location and your individual circumstances.

If you want to learn more about how we can help with your next construction or renovation project, click here to learn more about us. Check out our services and