Wondering when the best time is to buy a house? In this article, you'll discover which period is most favorable for purchasing a property. The best time depends on several factors, such as market influences, seasonal influences, and your personal situation. We discuss these factors so that you can get the most advantageous deal!
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The timing of buying a house can make a big difference in how much you pay. Seasonal factors can be estimated in advance, while market factors are less predictable. The following factors play a role in determining the best period to buy a property:
As you can see, it's always a trade-off. In the summer there are fewer houses for sale, but there is also less competition. In busy months, it's the other way around.
As you can see, this is also always a trade-off. If mortgage rates increase, people can borrow less, which means houses are sold for less money on average.
Although factors such as mortgage interest rates and house prices are difficult to predict, seasons do show trends in housing supply and demand. According to research by Funda, based on the square meter prices over five years, it appears that the month February is often the most favorable month to buy a house. In this period you get the most square meters for your money.
On the other hand, July appears to be the least favorable month to buy a house; then you get the least square meters for your money.
Note: The time between searching for a house and actually completing the purchase will in most cases take about a month. If you want to buy a property in February, start in January already with viewing houses.
For people who want to buy a house én their current home need to sell, timing is also important. According to the same research by FundaMay is the best month to sell your house. The housing supply then increases, but there is also a lot of demand, which often makes the selling price favorable.
Although we now know in which month you can generally get the best deal as a buyer, we want to emphasize not to adhere too strictly to these months. The best time to buy a house also depends on market factors and your personal situation.
The best thing you can do is to map out your needs well and then discuss your personal options with a mortgage advisor.
Also ask yourself the following questions:
A buying agent plays an important role in choosing the right time to buy a house. They have insight into the local housing market, know (seasonal) trends and can well estimate whether a neighborhood will develop. In addition, they can help you with negotiating the price and conditions, which is crucial to get a good deal.
A real estate agent can also advise you on emerging neighborhoods and opportunities to benefit from favorable mortgage interest rates. This way you not only make a wise choice in terms of timing, but you also invest in a property that can increase in value in the long term.
Do you want to make a smart investment? Then consider looking for houses in neighborhoods that are not (super) popular yet, but are expected to grow in popularity in the future. These emerging neighborhoods often offer affordable houses, with a good chance of value increase as the neighborhood becomes more attractive.
If you find a home in such a neighborhood, this could be the best time to buy such a home. In the future, you will probably pay a lot more money per square meter in this neighborhood. A local buying agent can help you find neighborhoods with potential, so you can buy a house that can increase in value in the future.
Through Mijn Verkoopmakelaar, you can quickly and easily find the best buying agents in your area. Register for free and receive proposals from buying agents in your mailbox. If you want, you can also immediately schedule a free appointment with a mortgage adviser.