Since buying a house is one of the biggest investments you will make in your life, you will need to slow down, wait and hit the timing just right in order to strike the best deal. But when is the right time to go into action-mode? There are certain times of the year where you can get the best prices or best offer on the market, so keep an eye on the calendar before you whip out your wallet. Here’s how to hit just the right time to buy a property.
Wait for fall
Statistically, days from the end of summer to the end of fall have been the best time to buy a house if you’re interested in reaching the best price. Why? As back-to-school time approaches, sellers are rushing to cut the prices a little bit because they are worried that they won’t make a sale before winter and its cold weather arrives. During winter, most buyers decide to postpone their purchasing plans until spring, so everyone is rushing to sell before buyers start hibernation. Additionally, shoppers can still find plenty of properties on the market during that time, but not that much competition from other interested parties. So, if you’re looking for a good balance between offer and demand, wait for fall and you’ll most likely get a bargain.
Wait for Christmas
If you’re not very picky when it comes to houses and all you want to do is find an affordable property, wait for Christmas. On the 26th of December, you will find an almost empty market, so you can really strike a good price. Very few people will go looking for a property a day after Christmas, so the chance of multiple offers is very low. Plus, people are more generous during this time, especially in Christian countries. Sellers will be willing to give big discounts that average at 1.3% below market value. This might not seem like a lot but it will actually save you thousands of dollars. Other buyer-friendly dates are October 12th, November 9th and December 4th, 7th and 29th. Also, you might want to pay attention to the day of the week when it comes to closing your home purchase. The best day is definitely Monday—that’s when buyers can expect a good discount that averages up to 2.3% below market value.
Wait for Easter
While spring is usually not a good time to buy a property if you’re looking to strike a good price, you can wait for Easter and potentially get some good deals. While most Christian families are busy with family, church and other festive activities, not many of them will go house shopping at that time. You can often strike a good deal right before Easter, and when the offers come flowing in come Monday, it will be too late to change the price. At non-Christian communities, this tactic won’t work, but if you live in the U.S. Australia, Europe or South America, you might want to wait for big Christian holidays.
Wait for professional help
First-time owners might be fearful of the idea of jumping into the real estate market. This is especially true with talking about super-hot markets like Australia’s, where having professional help can greatly help and give you confidence. Hiring experienced buyers agents in Sydney can provide you with a good buying strategy so you can end up with a valuable property that will serve you and your family for a long time. Pros can help you get the right property for the right price. If money is an issue for you and you’re looking for the most cost-effective house, waiting to hire professionals will give you great returns on investment.
Wait for more buying options
If you’re looking for the best time to buy a property and want to be presented with many options, wait for spring or early summer. In a period of five or so months, between March and July, there’s usually a large selection of listings for you to choose from. The biggest number of homes is usually being sold during that time, with the peak of sales in June. However, you will be facing a lot of competition at that time as well. But, don’t let the thought of paying full price scare you. Sure, you’re more likely to struggle with competition and stretch your budget, but you’re also more likely to find a property that you truly like when there are so many options to choose from.
Sort through your priorities and find a period of time to consult with professionals and sail into the real estate waters. With this knowledge in your pocket and advisors on your side, you will definitely find a beautiful home for you and your family.
About the author:
Derek Lotts is a Sydney based writer and researcher, a regular contributor at Smooth Decorator blog. He writes about décor, gardening, recycling, ecology and business. He thinks all of these topics fall under the self-improvement category. He believes in the power of sharing ideas and communicating via the internet to achieve betterment.