5) More selection – Even when it’s a “buyer’s market,” that doesn’t stop people from selling houses. Deaths, divorces, job transfers and foreclosures don’t slow down just because it’s a buyer’s market. There will inevitably be a glut of houses on the market, and it only benefits prospective buyers.
4) More room to negotiate – A slower pace to the market means more time to walk away and make them sweat. Buyers have the upper hand, not only because there will be fewer prospective buyers to compete with, but also because there will be high inventory.
3) Greater room for appreciation – Even small home improvement projects can mean big returns during selling season. Profits are maximized when you keep overhead costs low by doing the projects yourself and when you score a great deal on your home in the first place by buying when the market is down.
2) Down payment – The money you saved toward a down payment goes further if costs are reduced due to a down market. Instead of a 20-percent down payment, you may find yourself with a 25- or 30-percent down payment.
1) Taxes – Simply put, there is never a bad time to own a home. The buyer’s market is obviously the best time to buy, but regardless of that, the lure tax benefits and credit record improvement should make you want to own a home yesterday.
