When is the Best Time to Buy a New House?

Buying a new house is an already stressful experience that if not approached with care, can turn into a nightmare. Which is why it is important to find the right time for buying. There are a million and one other things to think about, but first, you must ensure that the climate is just right.

But when is the best time to buy a new house? Are there certain times of year which would be more beneficial for you? Let’s find out!

1 – October–March is a great time for buying

Generally speaking, demand and prices for properties rise during the summer months and experience a steady decline from October through until March. So, if you can hold off before making any commitments, it might be worth saving up a bit of extra money over the summer and then looking to make your investment in the colder months.

2 – You must be in the financial position to do so

This might sound daft, but it really is important that you are financially able to buy a new home. You don’t want to rush in with a mortgage that you might not be able to afford because you’ve got a tonne of other bills to content with. Instead, you should clear what debts you can and save up enough to put a 20% deposit down at the very least. This will invariably bring your deposit down to a digestible number so that you’re not breaking the bank or having to live beyond your means.

3 – You must have outgrown your old house

The best time to buy a new home is when you have well and truly outgrown your old house. If your current home is sufficient for the moment, then why rush into a new property when you could spend another year or so saving? We understand the desire to simply upgrade and move on, however sometimes it’s better to exercise a little restraint.

4 – When you find precisely what you’ve been looking for

If you’ve been following a rural property developer such as Martins Developments, you may have a certain type of property in mind. The thing is, when you see your dream home come available—provided that it’s the right price and you’re in a position to do so—you should go for it! The last thing you want is to hold off for whatever reason and then miss your chance at the forever home that you’ve been waiting for this whole time.

5 – Because you want to

At the end of the day, if you want to buy a new home, then that is your prerogative. You can accept as much or as little advice from other people as you like, the fact is, if you’re ready, you’re ready. So, if your gut feeling is to buy that gorgeous rural property in Somerset, then we say go for it!

Post Author: Perry