Today I share one simple tip on How to Save Money Buying a Sequim Home. This is a very practical tip, and it is backed up by 30 years of real estate experience observing the seasons of the year and the real estate cycles that come and go. I’ve written elsewhere on this real estate blog about where the best deals are, how to negotiate like an expert, and avoiding traps for the unwary. I’ve published articles on this blog about Sequim and what properties appear to be good deals but are not and where you will find some of the best properties for the best prices. But today I want to share what will seem like a simple rule, almost too simple to be a great rule.
Buy when others are not.
You might be thinking, “What kind of dumb rule is that?,” but hear me out. By saying, “Buy when others are not,” I do not mean that one should always buy when no one else is. I don not mean one should not be discerning. I do not mean to buy indiscriminately, and I do not mean one should buy what no one else wants.
The best opportunities in real estate and in the stock market have always been to NOT follow the crowd. Thinking like the rest of the crowd is almost always a way to either loose money or to be mediocre. The best investments in terms of timing are made when others are not, hence “Buy when others are not.”
The practice of this rule requires being cautious, and it does require a certain amount of risk, but it is calculated risk taken after one has done their due diligence and obtained experienced counsel. In terms of the market and timing, I believe that for the buyer who has already decided that Sequim is their retirement destination and they are going to buy a home here, the best time to do that is in the slow winter months like this month or January. This is a time when most buyers are not taking action, they are preoccupied, or they have decided to wait until spring to buy a house.
Just like everyone else. If you wait until spring to buy a house, you will be competing against all the other buyers who have decided that spring and summer is the time to buy. Talk about setting yourself up to compete with the largest number of other bidders! Why do that? The difference could be $10,000 or $40,000. That got your attention?
As a buyer, you have more negotiating power right now than you will in the spring when many other buyers just like you are also making their move. Makes sense, doesn’t it?
Last Updated on July 27, 2012 by Chuck Marunde
