There are a few different theories in regards to the best possible time to close on a home. Some people believe that it’s better to close later on in a month, and others believe that it is better to close earlier in the month, but there are advantages and disadvantages to both.
If you wait until later in the month, you can avoid more closing costs and pay less overall. However, if you wait until the end of the month, closing deadlines can get in the way because it’s a bottleneck at the end of the month. All of the lenders want to clear their books at the end of the month, and this is the same with the title companies.
When you close on the first day of the month you can skip a month of payment. This is a good strategy for saving a little bit of money. These extra funds can be used for repairs or upgrades on your home.
Because things can get so hectic at the end of the month, we think that it’s better to close at the beginning of the month. It’s the least stressful way to close on a home.
If you have any further questions about real estate in Alexandria, please don’t hesitate to reach out to me!
We look forward to hearing from you!