Are you super-excited about buying a house in Central Maine or Southern Maine? You’re not alone! People from around the world come here to enjoy our down-home, neighborly New England way of life—a lifestyle often difficult to find anywhere else.

But while buying a house in Maine may spur wonderful, can’t-wait-to-do-it emotions, it’s also a good time to be smart and practical. So ask yourself these key questions:

  • When do most people seek to buy a house in Maine?
  • When will I face the most competition when seeking to buy the house in Maine I’ve dreamed of?
  •  When are prices of houses in Maine always highest?

Extensive market research reveals the answer to all 3 questions quite clearly: In the spring and summer.

Why Not Save Tens of Thousands of Dollars?

For this reason, buying a house in Maine in the winter can be one of the smartest, most cost-savings things you’ll ever do. Especially over the long term of your mortgage. And that’s particularly true in this early 2020 Maine real estate market. After being red-hot throughout 2018, the market began to level off in the autumn and early winter of 2019—and that should be music to the ears of anyone currently wishing to buy a house in Maine. Why? Because it means 2 great things: Buying a house during winter 2020 will not only ensure you’ll have fewer competitors for the best houses, you’ll ALSO likely enjoy reduced prices from home sellers reacting to the leveling-off of demand.

And another key thing to consider: Thanks to a strong market, Maine home values have gone up 3.8 percent over the past year, and Zillow predicts they will rise ANOTHER 3.2 percent over the next year. That means you should consider buying before price increases kick in!

Spring into Action Before Spring

If you watch a Ferris wheel—or are lucky enough to be on one—you know there’s a predictable time when a cart will be high up in the air, and another when it will be down by the ground. Maine house prices are somewhat like that. Buying a house in Maine is virtually ALWAYS more expensive once spring begins to poke its head up from under the snow. So why delay your house hunt until then?

A Final Thought

There is one final, very important aspect of buying a house in winter. One that can very much play to your benefit. It has to do with the folks selling homes at that time. 

Think about it: Who are these folks? In a very large percentage of cases, they are sellers whose house has been on the market since early autumn. They are more anxious than the usual person to sell, and that can provide you with an important negotiating advantage while you and your agent work with them.

If buying a house in winter sounds like an attractive, often-overlooked option, we invite you to contact us today!

About Maine Source Homes & Realty

Maine Source Homes & Realty is dedicated to helping you find your perfect home-ownership solution. Whether you wish to buy, sell, or build a home, Maine Source Homes & Realty invites you to benefit from our 48 years of trustworthy experience and expertise.

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