When’s the Best Time to Buy a House?
Changes in the housing market are very dynamic and buying a home is one of, if not the most significant transaction of your life. So that’s why you have to know when exactly it’s best to purchase a home.
If you were checking out websites with house offers, for example, Richard Pattisall Real Estate, for a longer time, you might have noticed some patterns concerning price changes. Certain months and even days of the week might have an impact on the price.
The right timing can save you a significant amount of money or cost you an arm and a leg. If you want to know when to make the best deal, master the information below. Here are a few tips on when you should buy a house.
If you’re trying to make a good deal, winter is the perfect time for you. Even though there are not many offers, a chance of finding the right property is high because there’s next to nothing competition. Real estate experts see winter as the off-season. They know that people tend to stay at home more often and are less likely to go and view the house. Owners are mostly trying to sell their homes during spring and summer. What does it mean to you? If a house is up for sale during the winter, it could be a sign that nobody agreed to pay as much as the owner wanted. There’s also a possibility that somebody is in a rush. In this case, people often try to sell the property as soon as they can. These factors could lower the cost significantly.
Variety of choices
If you want to choose from multiple offers, you should consider buying the property in the spring or summer. Period of March to July provides you with the largest quantity of offers. It means that you’ll have a high chance of finding a house that perfectly fits your needs and demands. The downside of buying in this period is that you’ll have the most competitors. Of course, knowing this, sellers tend to request more money. If you value the chance of finding an ideal home over a higher price, you should try to invest during this period.
The best month for investing
If you have an opportunity to buy a home in August you should go for it. According to real estate experts, this is the optimal time to buy. During August the price goes down. And it doesn’t mean that properties you’re looking for are of bad quality. The reason for price dropping is the fact that some sellers wanted to get a better price during the season, but they failed, and now they are forced to hurry up. Therefore they are open for negotiations, and you’re more likely to pay a price that satisfies you.
Stay alert on Mondays
If you buy a home on Monday, you will on average save 2,3% of its total value. Another good day for house buying is Friday. Purchasing a home this day will save you on average 2% of the total cost. When it comes to the best specific day, you can find the cheapest houses on the 26th of December. Nobody seems to be interested in checking market offers, so if you want to get the most affordable property, make sure you stay active then.
If you’re looking for the cheapest possible home, you can’t miss winter offers. It’s most likely that you’ll get a bargain during this time. Spring and summer, on the other hand, offer a wide selection of properties. Knowing this information will help you to decide when you should be active on the housing market.