Why you should buy in January
Buying a property, whether as an investment or as your principal place of residence, is never a straightforward process. It takes time to do the research, look at various properties and then make a competitive offer to get the deal done.
During certain times of the year, buying a property is a little easier than others. The holidays can be that time of year if you’re prepared to take some time out from your break. Here are two things you can do to find a great buy during the holidays.
Speak to agents
The Christmas holiday period is traditionally a time of year when many sales agents take time off. They work for most of the year and do a lot on weekends, so breaks are few and far between. Therefore, during the summer, many will take the entire month of January off. With many vendors and buyers also away, the market slows down. However, this can be the time to hunt around for opportunities.
Savvy agents realise that if you are away for the month, then you will likely be starting the year on the back foot. Many agents these days return early and start preparing for the new year. That means they are already planning marketing campaigns and getting their listings together. This can be a great time to contact real estate agents who operate in the areas you are looking at buying in and see what they have coming to market.
Doing this gives you the first look at properties when others are still away. You might even be able to do a deal before a property has any competition at all.
Older listings
Most sales agents and vendors would have hoped to have sold their listings prior to the Christmas break. Usually, the spring selling season is the big push and most people aim to have finalised everything ahead of the holidays.
If a home is still listed for sale, it can mean the vendor was asking too much, or that it might have some issues. However, the fact that it hasn’t sold means that the vendor might have to adjust their expectations on price.
This gives active buyers an opportunity to negotiate and potentially secure a good deal.
*This information is general in nature and does not take into consideration your individual circumstances. Please contact us for further information.
