When to buy a house – A quick Guide

When is the best time to buy a house? The flip answer (no pun intended) is “whenever you can afford to

do it.” But "afford" isn't as simple as what's in your bank account right now; a host of other financial and

lifestyle considerations should figure into your calculations.

The seasons of the year can also factor in to the decision-making process. If you want the widest

possible variety of homes to choose from, spring is probably the best time to shop. “For Sale” signs tend

to spring up like flowers as the weather warms and lawns turn green. The reasons are obvious,

especially when you consider families waiting to move until their kids finish the current school year.

The most recent Housing Opportunity Index report released by the National Association of Home

Builders indicated that 61.8% of homes were affordable in Q3 2014. This is based on 30-year fixed rates,

good credit and families earning national median income of $63,900.

When you factor in all these elements, “whenever you can afford to do it” starts looking more

complicated than it first appears to be. But considering them now can prevent costly mistakes and

financial problems later. Of course, there is one best time to pounce: When you find the perfect house

in the perfect place for sale – at a perfect price.