At some point during your home search, you might have heard the falsehood that spring and fall are the best times to buy. And while it may be true that the Chicago real estate market is traditionally more active during certain times of the year, one of the biggest mistakes a home buyer can make is to make an attempt at strategically timing the market when purchasing a new home or condo here in the Windy City.
The fact of the matter is that anticipating housing market conditions is impossible, not to mention certain cycles can take weeks, months, or even years before a dramatic shift occurs. It goes without saying that most home buyers always put together a pretty extensive wish list prior to even beginning any sort of home search, so when a home, condo, townhome, or rental pops onto the market that satisfies most of your home buying or renting criteria, the time to act is now, regardless of the state of the market.
The one constant relating to not just the Chicago real estate market, but almost any market around the country, is that home prices go up and home prices go down. But as for the timing of when such shifts occur, it could happen tomorrow, or it could happen a year from now. So the question then becomes are you willing to miss out on the perfect home, waiting for something that might not happen?
We don’t recommended doing so...
Are you still searching for that perfect place to call home?
Home Buying Secret #1: Tighten Up Your Spending 3-6 Months Prior to Buying a Home
Home Buying Secret #2: Know the Difference Between Pre-Qualified & Pre-Approved