As a real estate investor, you have probably wondered when the best time of the year to buy a house for investment is. Buying an investment property is never easy. Thus, finding the right time to make an offer on a house will certainly bring you benefits. So, when to invest in real estate? On Christmas, of course. Buying a house during the holidays has its perks and we are here to share them with you.
4 Reasons Why Christmas Is the Best Time to Make an Offer on a Property
Well, it is probably not a secret that the prime seasons for an investment property search are the spring and the following summer. This, of course, is not a coincidence. First of all, the weather is nice and warm. This makes more property seekers willing to go out and view houses. Additionally, property owners have the opportunity to present their house in its full glory- the grass is green, the trees are blossoming and, most importantly, there is no need to clean fallen leaves or snow.
As you can imagine, however, due to all the previously mentioned circumstances, finding real estate deals is not a very easy task during the peak seasons. Neither is negotiating property price. That is why some experts in the field argue that the best time to invest in real estate is during the winter. To make an offer on a property in the winter real estate market has some huge advantages.
Finding Real Estate Deals
In the winter real estate market, it is fair to say that there is not such a huge variety of properties offered. Nevertheless, it is also important to note that the competition among buyers is significantly lower as well. This means that there are not many active property buyers in the market. When supply exceeds demand in the real estate world, prices drop. This combination makes for a great opportunity to find a discounted property and save yourself a good amount of money.
As you can imagine, Christmas is not the most popular time to hunt for and purchase properties. This, however, can be a huge plus for you when you make an offer on a house. This phenomenon is pretty simple to explain. There will be less (if any) competition. That means the chances of getting your offer accepted are higher. This is mainly because there are not many other people bidding on the real estate property. Furthermore, you may receive an answer to your offer sooner as the property seller does not need to go over a huge number of different proposals.
Negotiating Property Price
It is not only property buyers and agents that are aware of the decline in prices during the winter season and, especially, around Christmas. Homeowners/property sellers know this very well, too. That is why many home sellers wait until the beginning of spring to list their property on the market. As you can probably conclude, having your investment placed on the market during Christmas means that you need the money quite urgently. That is a great opportunity for property buyers to negotiate the property price with the seller.
Besides negotiating property price, you can discuss closing expenses, closing date as well as the terms of the sale. You might be able to keep some of the house appliances if you want to or make the seller fix some things around the property before your tenants move in. Take full advantage and make an offer on a house during Christmas!
Taking Advantage of the Winter Real Estate Market
You can take full advantage of the holiday season when you are willing to make an offer on a property. How so? Well, it is usually the case that people feel happy and generous around Christmas. This can also be a benefit when buying an investment property as property sellers will be more likely to negotiate a deal or provide you with some kind of benefit. It might also be possible that your real estate agent works harder due to the fewer clients he/she has, but also due to the possibility of earning a commission right in time for the celebrations.
The Best Time of the Year to Buy a House According to Research
In order to provide you with the whole package of information you need, we should also take a look at some research regarding the best time to invest in real estate. ATTOM Data Solutions conducted an analysis in order to select the top 10 days for buying an investment property. Based on their criteria, they selected 362 days (with the exception of January 1st, July 4th, November 11th, and December 25th).
The study reveals that seven of the top ten days to make an offer on a property fall in the month of December. Moreover, the best day to purchase a discounted property is December 26th. Isn’t that intriguing? Well, now you know when to invest in real estate in order to cut costs and generate higher profits!
To sum it all up, the best time to make an offer on a house is certainly during the winter, more specifically, on and around Christmas. Buying a house during the holidays, however, does not eliminate the need to conduct an in-depth investment property search. If you would prefer to save some money and opt out of hiring a real estate agent, use Mashvisor’s tools to guide you through the process of finding income properties.
Do not lose any time and start digging for the best properties on the market as the Christmas holidays are approaching quickly!