Is spring the best time to buy a property?
Buying or selling a property is a financial decision that requires analysis and patience. Good research and planning allow you to buy a home at a reasonable price or sell a property at a value that generates profit. However, the strategy does not work if one chooses a lousy time to buy or sell a home. As far as possible, the purchase or sale of a home should be at an exact moment.
For now, spring is the most suitable season for many when buying a home. Especially if it is a second residence, with the summer in mind, many people think that if they believe the house between April and May, they will get a better return because they will already have it ready for the summer. However, the real estate reality says that summer is the time of year when there is the most significant competition and, therefore, the worst to buy a house. The more excellent real estate supply means an increase in sales prices, more difficulty finding a property in good condition, and more significant obstacles on the banks’ part to access the necessary financing.
On the other hand, the best time of the year to buy a home is always the week between Christmas and New Year. It is a time of year when few buyers look for properties, and sellers face a drought of interest. Therefore, supply increases and competition decrease. Given the need to sell, the owner or person in charge of selling the property will be more open to negotiating the price.
In any case, the spring-summer period is still the best time to go shopping or selling. In the first case, it is more convenient to move to a new house when the weather is good, and families with children have more time to devote to looking for housing since the school year is over. After the Easter holidays and with the arrival of spring, the mortgage market, especially the second-hand market, is reactivated. May and July are two good months to buy a second residence, but also a habitual residence.
The reason, in both cases, is quite apparent. On the one hand, many sellers and real estate agents prefer to do their homework before going on vacation, so the supply increases. Besides, if we want to reform to start the course in our new home, the summer months (June and July) are good works, reforms, or rehabilitation.
In second homes, the moment of maximum sales rebound is usually after Easter, when many families consider investing in an apartment or a house to enjoy it on the following holidays (that is, during the summer).