While any article will tell you that the best prices are found around Christmas and the holidays, every city has its own cycle for real estate purchases. Seasonal fluctuations make for changes in demand and can have a major impact on pricing. If you want the best deal possible, you need to time your purchase carefully.
Your best bet for getting a foothold in the negotiation process is to work with an experienced Dallas agent. They’ll tell you everything you need to know about when the best time to buy a house in Dallas is and how to secure a deal quickly.
Best Time of Year to Buy in Dallas
Like every other city in the U.S., Dallas has a seasonal home buying cycle. The right time to buy can vary from neighborhood to neighborhood and from city to city.
Across the county, spring is considered the beginning of the real estate cycle. Looking at Austin, you’d think it was in the autumn, as prices are highest in November. The Dallas-Fort Worth region follow the trends of the rest of the country where spring and summer are the hottest times to buy.
Choosing to buy in January versus June can make an 8% difference or more in the U.S. In Dallas, the difference is massive. While the stock might be lower, you’ll save nearly 10% when you buy in January than if you were to buy in the summer.
Prices are slated to grow at a moderate pace, but as is the case with all property, the prices will eventually only be going up. If you want to invest at all, this year is the time to do it.
The Best Places to Buy a Home in Dallas
Choosing where in Dallas to move is as important as choosing when to move. Some sleepier neighborhoods and suburbs might be a little hotter in the summer when it’s easier to move kids into a new family home. The fall and spring might be better for regions closer to downtown but prices are going to change based on what each region has to offer.
North of downtown Dallas has become one of the most desirable parts of the city to move to. For young professionals and millennials starting families, it’s the place to be.
The area has plenty of shopping and hundreds of restaurants. It’s very walkable and close to downtown for anyone who needs to commute to work there. If you want to ditch your car, you can grab the trolley and get where you need to go.
Given the city’s median home value of $217,000, the region won’t be far out of pace with the city as a whole. Homes here are going to be the first to grow when the market heats up again.
2. Lower Greenville
Lower Greenville’s home prices are only slightly more expensive than Uptown, but given that it’s the top area for nightlife, bars, and restaurants, it’s worth it for some. Expect lots to do within walking distance, with plenty of entertainment on the weekends.
If you have kids, they’ll love dropping into Steel City Pops, a Mexican candy shop with everything to feed their sugar needs.
This is a great place to buy your first home or to start building wealth with some real estate investments.
3. Deep Ellum
This is the neighborhood to move to if you like to see lots of colorful murals and live music wherever you go. This former business and manufacturing center soon became a place for live music after its establishment in the 1870s.
There’s a rich history of jazz and blues music here going back 100 years. For creative types looking for inspiration, this is the place to buy a house.
If you’re looking to get a little bit of space from downtown Dallas, Lakewood is a great place to start building a home with a family. Lakewood Elementary is an award-winning school that gives kids a great start in their academic career. For generations, people have known it as a great place to grow up.
It’s also close to White Rock Lake for outdoorsy types. Active families are going to enjoy being this close to nature.
5. Preston Hollow
While Dallas has lots of spacious properties in the region, Preston Hollow has them like no other. You’ll find spacious lots and nice houses here that are within reach for middle-income families.
There’s a mix of modern and traditional homes here that match every homeowner’s aesthetic. You’ll be just a few miles from downtown while being surrounded by creeks and trees everywhere. If you’re sending kids to school, some of the best schools in the region are nearby.
4 Ways to Get a Great Deal On a Home in Dallas
Finding the best deal in Dallas requires you to do a little bit of leg work. While the market stays at a low point of growth, it also means that it’s a buyer’s market. Savvy buyers will know to hire an experienced local agent to help them make the most of the situation by following four tips.
1. Find a Great Dallas Real Estate Agent
Finding an experienced agent who knows the region well is vital to getting a good deal. An agent new to the business might work hard and seem excited but they won’t have the negotiating power of an agent who’s been in Dallas for a while.
There’s no reason to cut corners on finding an agent as the seller is going to cover the cost of your commission. They’ll help you navigate the search, the paperwork, and the closing costs that follow.
Learn More: What Does a Real Estate Agent Do for a Buyer?
2. Assess Your Needs and Lay Out Your Goals
Having your goals mapped out in advance is vital to finding the right home. You’ll have to make your decisions based on your budget and which area you’re looking to live in. Have a list of must-haves that include the number of bedrooms, the amount of storage space, and how easy it makes your commute.
Give your agent your list of needs and they’ll be able to show you homes that match your criteria.
Learn More: What to Look for When Buying a Home
3. Find a Lender and Secure Financing
Finding a lender can be challenging if you have less than stellar credit. Even if you have good credit, finding the ideal mortgage rate can be tough for first-time or inexperienced buyers.
This is where your experienced local agent can come in handy. Even if you find financing for the home, you’ll still have to come up with lots of cash upfront to pay for your down payment and closing costs.
The whole process can take around a month so if you’re on a tight timeline, you’ll need help from your agent and the power of their negotiating prowess.
Learn More: A Step-By-Step Guide to the Home Loan Process
4. Negotiate for the Best Possible Price
After you’ve decided on the place where you want to live, your agent will help you submit a competitive offer that the seller will agree to. However, before any lender will give you the money you’re looking for, they’ll require you to get an inspection and an appraisal on the property.
They want to make sure that the home is actually worth what they’re lending you to pay for it.
If you find problems during this process, you have the chance to negotiate the price down. However, if you’re not an expert negotiator, it’s going to be hard to talk down a seller on the price.
An experienced local agent will ensure that you get seller credits for everything that needs to be fixed. Fill out our online form today to get connected with one of our Partner Agents who is local to you. You’ll be given for a no-obligation consultation to help you understand what you could get for your budget.
Learn More: How to Find a Buyer’s Agent That’s a Good Negotiator