What time of year is best for buying a property?

August 8, 2016 by Brendan

Advice & Tips

The time of year can make a huge difference to someone who is looking for a new home. If you buy a property at the wrong time of year, you could end up paying thousands more for it.

Generally, a buyer is more likely to find a property at a bargain price during the quieter times of year, as the vendor will be eager to sell. Fewer people tend to look for a new home during the quiet periods, which means that there are more properties available for fewer buyers.

The summer is the busiest period for sellers, as more people want to browse for a new home. This is when the vendors will be happy to wait for the highest offers, and you may even end up being gazumped.

The best months to buy a home are November, December or January, when fewer people have an interest in buying a new home. You will be faced with more properties to view and may be able to strike up a deal with the vendor.

Another advantage to looking for a new house during the winter months, is that a vendor must be determined to sell their property if they have put it on the market at that time of year. However, it is still important to find the most suitable mortgage, and this is where a mortgage adviser can offer good advice, as they have studied on a CeMAP course and have the relevant knowledge.