The winter months aren’t a time you usually see flocks of new home shoppers hitting the market. Unfortunately, however, not many who should be shopping for a new home in St. Louis are aware of the benefits of purchasing a new home in winter. A recent report from The New York Times says that shoppers in specific markets might even find better deals when buying a home in the winter versus spring.
The report highlighted data from Attom Data Solutions, which found that between 2000 and 2016, the median selling price during February was about $104 per square foot — an average discount of 6 percent over the rest of the year. The study included a sample size of about 50 million homes. For the rest of the year, the same study showed that the next most affordable months were January, March, and April, with discounts at just under 6 percent, 4 percent, and 2 percent over $110 per square foot, the annualized median price.
There are other benefits to purchasing a new home in St. Louis in the winter other than price discounts. One positive aspect of buying a home in the winter versus spring is the added benefit of not having to brave the heat to build and shop for a new home. Yet still, the Attom study found that this data trend held true in warmer climates like Florida, likely because the early months of the year coincide with the middle of the school year when families aren’t typically considering a move.
Not only is the heat an issue here in St. Louis but think of all the other responsibilities that most people and families face during the warmer weather. There are typically more family responsibilities including weekend get-togethers and sporting events, as well as vacations during the summer recess.
If you’re considering a move for the 2018–19 school year and want to build your personalized home, then now is the time to start seriously thinking about your home purchase. It takes a little longer than most people think to finalize all decisions on what you want in a new home, secure financing and start construction. Items such as flooring selections, permitting and slot scheduling are not often considered when thinking of timing. If you want a new home in St. Louis to be ready to move in before the start of the next school year, you really should be visiting sales offices now to determine which St Louis new home builder, like Rolwes Company, best meets your needs.
With the current trend in interest rates, waiting to purchase and lock into a financing program is also not the best option. Getting to a final purchase price on a new home sooner rather than later can only help you. There are many programs out there that let you “float down,” so if the interest rates do trend downward, they will allow you to obtain that rate.
For these reasons and many more, if you are considering purchasing a new home in St. Louis this year, get into new home builder’s display homes now.
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