knowing when to buy a home and the house hunting process can bring on an array of emotions – excitement, anticipation, nervousness and confusion. Waiting for the best time of year to buy the house of your dreams can help to alleviate certain pressures and make the home-building and buying journey more effortless. So, is now a wise time to buy? Let us help you decide:
The Trough of the Real Estate Market
November and December are usually considered the crest of real estate market, while January is its trough. This means the market has slowed down a bit after the spike of sales in the past two months. Once the peak of house buying frenzy dies down, the competition among buyers is lesser too. There are bound to be many properties passed on before Christmas, giving purchasers a chance to find a good bargain early in the new year.
Vendors are Motivated to Sell in the New Year
While there are fewer properties to choose from, it’s far easier to get a deal done with vendors more likely to entertain offers they may have dismissed previously. Picking a bargain on a property is a big possibility.
There is More Time to Devote to House Hunting
Since it’s the school break, chances are, you’ve also got more time on your hands to devote to house hunting. You can visit display homes and tour estates in order to find the most suitable fit for your family. Buying a house can’t be rushed, after all. It takes careful planning and consideration. The summer holidays afford you this opportunity.
At Thornhill Park, you’ll find a large selection of available house and land packages from some of Melbourne’s best builders, to suit your family’s specific needs. Plus, we have homes on display that will help you envisage your future. Buying and building the house of your dreams is made easier at Thornhill Park.