Real estate: Is there a best time to buy a home in Maryland?

Buying a home is probably one of the most exciting ventures anyone can make. But in terms of the timing, is there is best time to buy a home in Maryland? Real estate agents will usually say the best time is anytime; however, there are some issues that come into play like what the market itself is doing, the area and the home itself. Buying when most people aren’t — like in the month of December — might also help the purchaser.

On the other hand, buying when most people like to buy — from late spring to the end of summer — may provide a lot more selection, so there is that to consider. There will also be more competing buyers and prices are apt to be higher. Better deals are likely to be found from November through January.

Generally, the worst time of year to purchase a home is in March and April. Lenders are busy, so processing may take longer. As such, there may be mistakes made that wouldn’t be made at other times of the year. Bidding wars could also ensue and a purchaser wants to avoid those if possible.

Whenever a person is ready to make that sort of financial commitment for the long haul, a Maryland real estate lawyer may be able to provide some additional advice when it comes to both purchasing and selling a home. An attorney will assist his or her clients from the time they enter into the contract all the way through the closing and beyond. Having the ongoing help of a lawyer who understands the in’s and out’s of real estate legalities may save both time and money.10