Wondering when you should buy a house in Nebraska? Keeping track of market trends and seasonal fluctuations will help you make this decision. They can affect the cost of homes and the amount of competition between buyers.
Timing is one of the biggest factors that play into buyers getting the best deal possible on a home. Buying a home is probably going to be one of the biggest purchases you’ll ever make, so you want to do proper research on when to buy. Seasonal fluctuations in supply and demand have a pretty large effect on the housing market and when sellers choose to list their homes.
If you’ve never heard of seasonal fluctuations, they vary from location to location. They can also make as much as a 10% price difference on a home. In some states that are warm year round, you’ll see an influx of buyers in the winter looking to move out of a cold state. It’s also very common to experience fluctuations in supply and demand during holidays or notoriously “stressful” times of the year.
It’s important to take these factors into account when you’re looking to buy a home because it can greatly affect how much you pay. Higher demand means you might be paying more for a house. When attempting to time the market, your best bet for getting the best deal is to work with an experienced, local real estate agent.
Here’s what you need to know about the best time to buy in Nebraska.
Best Time of Year to Buy in Nebraska
Right now, Nebraska is experiencing a considerably healthy housing market. However, Omaha currently has a serious housing shortage. There is also a quick turn-over rate, which means homes are selling quicker than some states experience during peak seasons. Buyer demand is currently increasing because residents are losing interest in renting homes.
Aside from the housing shortage in Nebraska, there are no declines in supply and demand during certain seasons. This is great because it encourages sellers to list throughout the year, which helps with leveling out competition among buyers. However, just like most states, Nebraska experiences peak seasons during the spring months.
Homes are currently being listed around $230,000 which is very affordable considering the median household income and job opportunities. During most months of the year, Nebraska’s housing value sits around 5% higher than the national average.
The Best Places to Buy a Home in Nebraska
Even though Omaha is not Nebraska’s state capital, it is the most favorable city to live in according to residents. It’s a lively urban scene with quality food choices and an abundance of job opportunities. Home prices are sitting around $170,000, which makes it a very affordable city to live in.
Lincoln is Nebraska’s state capital and is home to around 270,000 people. Lincoln is ranked in the top 15 places to buy a house in the United States. This is a great city for people looking to land a new job and live in a decently sized home.
La Vista is a quaint little suburb of Omaha and is home to about 16,000 people. Due to its small size, you can expect lower crime rates, thus making the downtown area much safer to live in.
They also have an exceptional public school system, which is great for families.
If you’re looking for a town where you can meet friendly people and buy a home for $50,000, Bellevue is for you. The low house prices open the floor for residents to invest in properties and have extra money for renovations. This city is also a relatively short drive to Omaha, which allows residents to take advantage of the city’s job market.
Bennington is a great town to live in for people that enjoy smaller populations and close-knit communities. It’s conveniently located just south of Highway 36, thus allowing residents to make a short commute to the city for work. You really can get the best of both worlds in Bennington thanks to its small-town feel and a short distance to the city.
4 Ways to Get a Great Deal on a Home in Nebraska
- Find a Great Nebraska Real Estate Agent:
A local real estate agent is going to know the housing market in your area like the back of their hand. They will be able to give you insight into favorable cities and places to avoid. It is not recommended that buyers attempt the buying process alone. Real estate agents are trained to take care of the paperwork and negotiating, so leave it up to them.
- Assess Your Needs and Lay Out Your Goals:
Once you are in contact with your agent, you’ll want to be clear with what you are looking for in a house. Be sure to communicate your budget and don’t be afraid to see an abundance of homes, After all, this is probably one of the biggest financial decisions of your life.
- Find a Lender and Secure Financing:
Your agent is going to take the information you gave them, look at your specifications for a house and determine a financing option for you. Keep in mind, the closing process usually takes about 30 days, so if you’re on a time crunch, you’ll need to take this into account.
- Negotiate for the Best Possible Price:
Once you’ve chosen your dream property, your agent will help you make and submit an offer. After a home inspection is conducted by a professional, your agent will negotiate terms to make sure you are getting the best deal possible. This is a very important step because home inspections can sometimes reveal discrepancies in home quality.
If you’re interested in learning more about Clever or speaking with a top-rated buyer’s agent in your area, fill out our online form. A member of our team will be in touch shortly to answer any questions you might and have and connect you with one of our local Partner Agents for a no-obligation consultation.