For first-time property buyers, it can be tricky to know precisely when it is the best time to buy a house. While seasonal trends are said to affect the availability of new houses coming on to the market, is there really any difference in buying a home during the summer compared to the winter, for example?
The short answer to this question is yes … and no.
If you want to buy a property and you have a deposit and mortgage already in place, then there is nothing stopping you from buying the perfect property when it falls into your lap, regardless of the time of year.
Having said that, it is commonly known that buying a house during the spring is an excellent time to buy because estate agents will have plenty of inventory on their books. Spring house sales are usually plentiful, which means you will have plenty of choice on offer as a buyer, but the prices may be a little higher.
If you are on a tight budget, it can pay you to buy a home during winter. Winter house sale prices may sometimes be lower during the winter because fewer people are keen to move house in cold and wet winter weather with shorter daylight hours.
Buying when you feel the time is right
You also have to consider your finances and your personal needs, which can play a significant role in deciding to buy. If you are spending a lot of money on rent and travel costs to and from work, buying a property closer to your workplace may make sense.
Buying a property closer to where you work can save you a small fortune in travel expenses. If you can afford to buy a property right now that is closer to your workplace, does it make sense to hold off for another year if your finances are being drained for travel costs?
House prices are steadily rising, so if you are in a position to buy a property now, waiting for next spring or summer can mean the cost of the place of your dreams can suddenly become out of reach. The house you can afford to buy today maybe a few thousand pounds over your budget next year.
The feel of the property is important
You can find ideal houses to buy during all seasons of the year, but you really need to view them in person and take a walk around the neighbourhood to see if you like the place and will feel at home living there.
At one time, the housing market was so competitive that buyers were snapping up properties sight unseen as soon as they came on the market if they were in their chosen area. However, you should always look before you leap. Too many people were disappointed by their purchases because the house just didn’t feel right.
This is why we always recommend booking a viewing before you set your heart on a place. Our
team go out of our way to help match our clients with their perfect property, and we would never suggest you look at a property that doesn’t meet your needs.
Whether you are looking to secure a winter bargain or you want to have more choices during the spring, remember that all sellers want to sell as quickly as possible. If your finances are in place and you are ready to buy, don’t hesitate too long to commit when you find your perfect property. Snap it up before someone else does! Get in touch with Leysbrook and we can find the perfect house for you.