The timing might not be everything when buying a house, but it’s a key factor. Most real estate investors will tell you that the best time to buy a house is ‘’now’’. This is because real estate prices keep going up; however, buying a home depends on several things, including the time of the year, the real estate market, the region, and the house you intend to buy.
In this article, we shall highlight some of the pointers to the best time to buy a home.
Buy When No One Is Buying
It might sound funny to say that there is a time when people don’t buy houses, but that’s the fact. For instance, very few people think about investment during the December holidays. For many, it’s time to celebrate and enjoy with family and loved ones. You can take advantage of this, therefore, and buy a house. Most sellers during this time are motivated and will be willing to accept your offer or be flexible with your terms.
If you are planning to buy a home through a mortgage, consider the interest rate factor carefully. The loan rates keep on changing, and you may not know what they will be like in the future. You may wait, hoping that the rates will go down, but to your shock, they go up. And you fail to qualify for the mortgage. It is therefore important that you take advantage of the mortgage market when you qualify.
The Cold Season
As the saying goes, to everything, there is a season, and the same applies to buying a home. In real estate, months are never the same because some are more favorable than others when buying a house. That’s why it is important to understand the best time to purchase.
During the cold seasons, most people have a low interest in investment. They avoid getting into the fields because of the rains and mud. This is more so for those in urban areas. You can therefore take advantage of that and search for a house because the market is usually in a low season hence better deals and prices.
This is another good time to buy a house in Kenya. Investors usually go slow whenever it’s election time because of the season’s uncertainty. Buying a house and crashes happening is a great turn-off for many. However, that shouldn’t hold you because things don’t have to go the 2007 way. Take advantage of the season and buy yourself a house when everyone is freaking out because you have better chances of getting a better deal then.
One can wait for the real estate market to be fair and buy a house. Nevertheless, the best time to buy one is when you are ready. Ensure you have the money required for the home and the closing costs. Alternatively, get good credit and look for a good realtor to help you through the home buying process.
Are you looking for houses for sale in Nairobi? Well, you can buy property Kenya today with Denver Real Estate and develop your own home. Call us; 0701 730 267.