Is there a good time of year to buy a property? After all, for most people, it’s the biggest financial decision we’ll make in our entire life – so anything that will give house-buyers an advantage should be taken into account!
Our subconscious (and perhaps our estate agent) may be telling us that spring and summer are great times for moving house. It’s a more pleasant time of year, people feel more like going out and house-hunting and the gardens look better if they’re in full bloom and not covered in snow.
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However, despite these advantages, there are some compelling reasons for looking for a new home in the winter too. Rather than thinking of it as extra stress if you’re planning to move home in the run-up to Christmas, look on it as being the perfect time to do so!
Already settled? Along with getting married, buying a house is considered to be the most stressful thing we will ever do in our lives, so if you could help to alleviate someone else’s anxiety, why wouldn’t you? Share your views with others on Psydro’s unique reviews platform for property and homes – point them in the right direction.
Buying a house in the winter can be surprisingly advantageous, offering some significant benefits if you start your house-hunting now.
The winter months are definitely a buyers’ market, in terms of prices. You’re likely to find the prices of houses, in general, are significantly lower, due to there being fewer buyers in the market for a property. In any economic situation where supply outstrips demand, you’re more likely to find some real bargains, as sellers are eager to complete and move themselves before Christmas.
There are fewer buyers to compete with, due to the fact estate agents’ advice compels us to start looking in spring and summer. In simple economic terms, the lower demand will work in the buyers’ favour.
Finding a great deal is more likely to happen in winter, when prices drop, due to the sheer unpopularity of house-hunting in the colder months! You’ll have less competition in terms of other buyers looking, so you’ll have more chance of grabbing what’s on offer.
In turn, this leads to sellers becoming more motivated. They may be selling in winter due to their own particular circumstances, which may necessitate a quick sale. Knowing there will be less offers from potential buyers may make them more open to accepting lower offers.
Finding your perfect home
So, how should you go about finding your dream home? The days are gone when you had to physically go to the estate agents and peer in their windows – today, we have a wealth of homes for sale at our fingertips, just by turning on our computer.
Join a number of home search sites, looking for the best prices, comparing the prices in different areas, checking out where exactly they are using Google maps and matching up sold prices with old property adverts.
Remember that the asking price you see online often isn’t the price the buyer will get, so this is a useful tool if you’re planning to put in some offers. Sign up for alerts from the websites, so you’ll never miss the newest listings that match up to your specifications.
Don’t underestimate the value of chatting to your local estate agent. Although a lot of house-searching can be done online these days, it’s worth getting friendly with your estate agent, as some homes are sold before they’re even advertised online.
If you’re on good terms with your estate agent, you can be alerted to a new home for sale as soon as it hits their books. Tell them your budget and what type of property you’re looking for, so they can assess how realistic your goal is and how long, on average, it may be before you find that sort of property in your local area.
Using a combination of property websites and your local estate agent, during the winter market, gives you a great chance of finding your dream home at a realistic price. Brave the elements, put on your winter woollies and get out there to start house hunting!
The property market, along with building maintenance and upkeep, can be a minefield, and if you can stop someone making an expensive mistake, surely that would be the right thing to do? On the other hand, if you’ve enjoyed a great service from any supplier in the house purchase process, we want to hear all about it – whether it be about estate agents, online property sites, letting agents, removals firms, loft conversion companies, builders, electricians, or any other business involved in making your dream home a reality.