When it comes to purchasing property, it’s little wonder why many regard January as the bargain hunter’s dream.
It’s a month when home owners are motivated to sell, home seekers put their property search on hold to escape for the new year with family and friends, and house hunting suddenly rewards motivated buyers with less competition and far greater bidding power.
So if buying a property is your new year’s resolution, then shopping in January could put you at a real advantage in your property search.
While it’s traditionally assumed that start of the year will present slim pickings, January can in fact hold the opposite; an uptick in properties listed before Christmas usually means that plenty of end-of-year stock is still on the market when the new year ticks over.
In these circumstances, January can actually be the best time to buy, as many sellers are keen to offload their property and prepared to consider every buyer and offer.
Keep in mind that sellers who are starting to feel the pinch at the start of the year are also more willing to accept a lower price – making January an excellent time for home seekers who are ready to negotiate to secure top value for their pennies.
Adding to this, holiday and post-Christmas debt is known to drive away hordes of crowds and clear the path for house hunters who are prepared and able to buy.
So if you’re ready to turn the key, ensure that your offer is backed up by loan pre-approval from your bank or lender, and that your finances are in order to be seriously considered by an agent and vendor; it may be the ticket you need to get ahead of the queue.
In every case, the right time to buy isn’t at the will of the market – but when you as the buyer are most ready to seal the deal.
We’ve got all you need to know about getting pre-approved for your mortgage – for more information click here, or contact our property experts today!
Call Prudential Real Estate on (02) 4628 0033, or email us at campbelltown@prudential.com.au
