When you are buying a house in the UK, there are a lot of important factors to keep in mind in order to ensure that you will get the best deal. The housing market changes throughout the year and there are some seasons that are better for buying homes than others. If you can time your house hunting just right, you can end up saving thousands of pounds on your home purchase just because you bought the home at the right time of year.
Most people tend to buy their homes in the spring or summer, but if you want to save money you should avoid this time. Because home sellers will have so many buyers interested in their home, they will be able to choose the highest bid. There will be very little room for negotiating or low ball offers. This means that the summer is a great time to sell your house, but a bad time to buy one.
During the quieter times of the year for the housing market, the sellers are more likely to settle for a lower offer. When there is less competition in the property
market, a seller cannot be as picky as they might be during a busy time. If you are selling during these times, you will likely end up taking a lower offer just to make sure that you can close the sale and sell your home – so this is a bad time to make your move. However, if you are buying a house then this is the best time to shop.
Buy your house during the end of the year in November and December, or at the start of the year in January. There is a significant dip in the real estate market during the winter months, which means that there will be fewer competing buyers when you are searching for a house. This will give you extra leverage when you are negotiating prices. According to statistics, you can save up to 10% when you are purchasing a house in January – compared to similar properties in the summer months.
In fact, one of the best days of the year to buy a house is on Christmas Day. The holiday season tends to make home sellers feel very generous and there is very little competition from other buyers, because they are busy with their holiday celebrations. Also, if a property is on the market during Christmas that probably means that the seller is very desperate to sell – so they will likely accept a low offer.
The only challenge is to find a real estate agent who would be willing to meet up with you and show a home on Christmas Day. This might be tricky, but if you take the time to look you will find them. Buying your home at the right time of year can save you thousands of pounds, so why not take advantage of this when house hunting?
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