Skip to main content

RealtyLab Real Estate - Serving the Central Valley areas of Modesto, Stockton, Tracy, Manteca, Turlock & Merced

Here’s why there really is no perfect time to buy a home.

Is there a right time to buy a home? I’ll answer the question in detail, but let’s first cover the three most common myths about the best time to buy a home:

MYTH 1. The best time to buy is in the spring. Conventional wisdom says that since there are more homes available during this time of year, it’s the best time to buy. However, at that same time, there are many more buyers out in the market. It’s when you’re most likely to compete with multiple offers and pay the highest price. That’s why the best deals are typically found in late summer, fall, and winter. 

MYTH 2. The best time to buy is when I have paid off all my debt and have saved enough for a 20% down payment. This would be great advice if home prices were stable, but they’re not. Home values are increasing faster than anyone’s ability to pay off debt and save money. Even if prices went up only 5% in a year, that’s still a $20,000 increase in value on the average home. Can you save or pay off more than that in debt per year? If not, then saving up could actually hurt you. Even though surveys show more than half of people think you need 20% down to buy a home, you don’t. You can buy with 3% or even $0 down.


MYTH 3. The best time to buy is later when prices come down. This is the most dangerous of them all. In the last 50 years, annual median prices went down only five times. The other 90% of the time, they went up. The great thing about real estate is that you can see the market shift from a mile away. I watch all the economic indicators, and I can tell you with confidence that there is absolutely no data pointing to any kind of decline in home values for the foreseeable future.

You can buy with 3% down or even 0%.

The bottom line is that the longer you wait, the less house you’ll get. So when is the right time to buy a house?

The answer is simple. The right time to buy a home is when the time arrives in your life to do it. If you’ve been thinking about buying, the time has arrived, and now is the time to do it. 

It reminds me of a Chinese proverb that goes like this: “The best time to plant a tree was 20 years ago. The second-best time is now.” Trees and real estate are both long-term investments. Whether it’s shade or home equity, they need time to develop. The sooner you start, the sooner you get to “20 years ago.”

If you have any questions for me about this topic or anything else related to real estate, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.

Let’s Talk

You’ve got questions and we can’t wait to answer them.

We use cookies and tracking technology in connection with your activities on our website. By viewing and using our website, you consent to our use of cookies and tracking technology in accordance with our Privacy Policy.