When is the right time to buy a property? Whether you’ve just joined the house hunt, or have been on the lookout for a while now, you might be surprised to learn that certain times of the year are much better than others when it comes to taking the plunge.
There are so many factors at play when it comes to reading the market, such as demand, supply and prices. The easiest way to time it is to use the holidays and seasons as a benchmark. This begs the question: is Easter a good time to buy a house?
Is Easter A Good Time To Buy A House?
The Easter holidays are fast approaching, as many Aussie are preparing themselves for a well-deserved break. With people packing up and heading off on trips and getting out of the area for a while, it might have you asking, is it a good time to buy a house?
The answer is yes!
Think about it, with more and more people heading out of town to enjoy the holidays, you have the perfect opportunity to head along to auctions without the intense competition around. It gives you an even better chance of grabbing your dream home for a great price.
Of course, it does come with the downsides as well. There are less houses on the market during this time as well for the same reasons. This means you have less to choose from as well.
If you’re serious about nabbing that great purchase, then it’s worth noting that Easter is a good time to buy a house. You just need to put the effort in and start your search long before the Easter chaos. Be on the lookout for great properties and good deals and give yourself a good head start before auction day.
When Is A Good Time To Buy A House?
Now you know that Easter is a great time to look into the housing market, you might be wondering when else is a good time to buy a house? How does Easter compare to the other seasons in the year?
Winter: not many people choose to sell in the winter months, so you can expect less choice at this time of the year. The people who do sell, are usually looking to make some quick cash, so it can make the price more negotiable. Of course, there will be lots of competition still.
Spring: this is the best time for sellers, as it brings a lot of competition from buyers, hiking up the prices. It brings with it lots of choice as a buyer, but it’s worth weighing up what you’re after.
Summer: naturally Summer is a good time to buy. Of course, prices are generally higher and there is much more competition on the market.
Autumn: this is also a quiet time for house buying, as many sellers wait out for the warmer months. It can be a good opportunity to use the lull to snap up a bargain leftover from the frenzied months.
Now we know when is a good time to buy a house, it’s important you have your funds readily available.
Getting The Funds To Buy A House
Finding that perfect home is an exciting venture, but before you go ahead and take the plunge, it’s important to make sure you have the best mortgage solutions.
Getting preapproval for a loan and knowing how much you have to spend ahead of time will make your search that much easier. There’s nothing worse than joining the house hunt race, only to be unable to bid on your dream property because you are yet to receive pre-approval for your loan.
This should all be done ahead of time to make sure you don’t miss out on any gems.
Pre-approval is based on your ability to repay the loan. They look at your financial position to determine the amount you can borrow, and it’s issued for a period of three months. If you don’t have luck finding a property at this time, then you need to go through the process again.
If you already have a property then a mortgage refinance could be the perfect solution for you. It allows you to release the equity in your home, which can be used as a deposit for a new property.
Before you even go on the house hunt, make sure you have a method of payment locked in and ready to go.
Finding The Right Home Loan
No matter your credit situation, NSW Mortgage Corp can help you out. We offer a free consultation with the best mortgage solutions for your situation. Get the funds you need to purchase your dream home today and go and join the house hunt!
