People tend to neglect the holiday season in buying properties in general, but according to our analysis, it’s actually the best time of the year to buy real estate investment properties. By holiday season, we mean specifically November, December, and January. And here’s exactly why…
1. Sellers are pretty desperate
The peak season for buying real estate investment properties or homes in general is spring and summer. That’s the easiest to time of the year to move into a property. And given that everyone is usually too caught up in the holiday season, a seller that lists their home in November, December, or January is a pretty desperate seller. They’re putting it on the market for a cheaper price and aren’t willing to wait just a few more months for the spring (the peak season) so they can list it at a higher price. But that’s good news for you because you’re able to better be able to negotiate with the seller; and you’ll be more likely able to proceed with the deal on your own terms. However, keep in mind that there are some agents out there who will convince the seller to put their homes on the market during because there’s less competition. So not all the sellers are desperate, but most are.
Given that most sellers are desperate during that time, most investors usually think they have less options to choose from in the winter. Let’s reboot that thought by ensuring you that there are many options out there to choose from in the holiday season. Just a quick glance on Mashvisor will show you the numerous available real estate investment properties there are to choose from.
2. No bidding wars
Most individuals and families don’t want to move in to new homes during the winter. It’s too difficult because of harsh weather conditions. Not to mention the holidays– there’s Thanksgiving, Hanukah, New Year’s, and other festivities that people get caught up in instead. So, you have less competition to worry about! You’re less likely to get into a bidding war. Real estate investment properties won’t be fought over as much as the other seasons.
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3. Prices are cheaper
Desperate sellers and less buyers; this means one thing–real estate investment properties prices are cheaper!
Typically, home prices tend to rise around 3 to 5% per year. The highest price rates for real estate investment properties tend to be during spring time and summer time. That’s because usually individuals tend to prefer to move into homes during these better weather conditions. Summer is always the number one choice for families with children because they don’t want to interrupt their children’s school schedule. And for that reason, statistics show that during the holidays seasons–specifically, November, December, and January–home prices go down; so, you’ll be able to find rest estate investment properties at their lowest prices.
Keep in mind that the best deals might be for smaller homes–since less families move in and out during the winter, sellers expect smaller families or lone individuals to purchase at that time of year. But nonetheless, there’s generally less demand and the supplier wants to supply as soon as possible. So, the three holiday months are when you’re able to get the best deals and discounts on properties!
Related Article: What You Should Know About Investing in Cheap Rental Properties
4. See the property at its worst
Many things in a property might be tested during the winter. Insulation, pipes, HVAC units, are just to name a few. So, in general, it is good for you to test, know, and like real estate investment properties during the winter. Because if you find that you the property is in good condition during the winter, you’ll like the property in all the other seasons as well.
Patience is the key…
Finding appropriate real estate investment properties is extremely important! Don’t settle too quick. Be patient and wait for the right time for you to invest and the right time for the market to be in your favor. After our analysis, we found that the best time to buy real estate investment properties is November, December, and January. But, if you find that you’re unable to find what you are looking for in those months, be patient and don’t give up.
The right real estate investment property is out there waiting for you! Mashvisor will gladly help you find. So, start your search now!