Home Buyers THE LIST | 303.912.NICK(6425) October 2, 2024
**The Off-Season Homebuying Hack That Saved Me $15,000 in Lakewood, CO**
The real estate market in Lakewood and Denver, CO, can feel overwhelming, especially if you're trying to time your home purchase just right. Many homebuyers believe spring is the best time to buy a home, but in reality, waiting for warmer months might cost you thousands more.
Let me share a lesser-known strategy that saved me $15,000 on my own home purchase, and it could help you do the same.
**The Common Mistake: Waiting for Spring**
Most homebuyers in Lakewood and Denver make the mistake of waiting until spring or summer to start their search. It’s true that there are more homes on the market during those seasons, but the problem is that everyone else has the same idea. Increased demand drives up home prices, leading to fierce bidding wars and higher competition. If you wait for the peak season, you could easily end up paying more for your home than necessary.
**The Smart Move: Buy in the Off-Season**
Here’s the key homebuying hack that saved me $15,000: I started my search in the fall. The ideal time to look for a home in the Lakewood or Denver areas is between fall and early February. During these cooler months, fewer homes are listed, but the reduced competition works in your favor.
Many sellers listing in the off-season are highly motivated. They often need to sell quickly due to job relocations, family changes, or simply want to close before the holidays. This gives you more room to negotiate and find better deals on homes.
**Worried About Fewer Listings?**
It’s true there might be fewer homes on the market in Lakewood and Denver in the off-season, but the ones available are often priced more competitively. Plus, with fewer buyers to compete with, you won’t find yourself in a bidding war, allowing you to make a reasonable offer without going over budget.
**The Numbers Don’t Lie**
Look at the numbers: this year, home prices in the Denver metro area jumped by $15,000 between January and June. This is a consistent trend we see year after year. Spring and summer drive up prices as more buyers flood the market, but during the off-season, prices tend to stabilize or even drop.
If you had purchased a home in January instead of waiting for June, you could have saved an average of $15,000, simply because fewer buyers were competing. The pattern is clear—waiting for spring can cost you.
**What About Mortgage Interest Rates?**
If interest rates are a concern, you’re not alone. However, current trends show that rates in Denver and Lakewood are stabilizing and may even decline. This could lead to an even larger price surge in the spring when more buyers try to take advantage of lower rates. Acting in the off-season allows you to secure a better price before the inevitable increase in competition and home prices.
**Take Action Now**
If you're serious about buying a home in Lakewood, CO, or Denver, CO, the smartest move is to start your search now. During the off-season, you’ll encounter fewer competing buyers, more motivated sellers, and better opportunities to negotiate a great deal. With interest rates potentially trending downward, there’s no better time to buy before prices spike again in the spring.
**Final Thoughts**
Buying a home is one of the biggest financial decisions you’ll ever make, and timing is crucial. By avoiding the crowded spring market and starting your home search in the off-season, you could save thousands of dollars—just like I did. So why wait? Start your search now and find your dream home in Lakewood or Denver without the springtime price surge.
Happy house hunting!
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