When is the Best Time to Buy a Property?

Deed of TitleAre you waiting for the right time to buy a new home? There are times when sellers are willing to part with their property at the price you want. Identifying the ideal time to purchase a home will help you save money and get the property you desire.

Observing the Price Cycle

Understanding the price cycle will help you find a home that is within your budget range. Homes often hit their peak prices in the spring. Buyers and sellers are more eager to sell or purchase a home during spring time as it provides the best weather of the year. The time of year is not the only indicator of the changing price cycles. Home prices may drop by more than 5 percent based on the market value and area.

Consult with property valuers, such as InternetRealty.com.au to determine the market value of the home you are planning to buy.

Christmas Cheer

Contrary to popular belief, Christmas is one of the best times to purchase or sell a home. People are generally in a good mood and are more willing to sell their homes to prospective buyers. You also have less competition. There are few prospective buyers looking for a house because they are either on vacation or staying at home with their families. The possibility of multiple offers from other prospective buyers is low, meaning your offer may be the best one available.

Several Sellers on the Market

The number of houses listed affects the price of the property. If you are looking to get a good value, checking the online listings will help you. Property prices in Perth may drop because more and more homeowners are putting their properties for sale. A decreasing population, job loss, and slowdown in the construction and mining industry have led to the increase in property listings.

The value of a home fluctuates and there is no clear time to purchase one. But you improve your chances of getting a good deal when you know when to buy. Understand the price cycle and check the number of sellers in the area.