Today I want to talk to you about why December is the best time to buy property…
December is the best month for buying your next renovation or investment project. And there are a few reasons for that…
Firstly, vendors seem to draw a line in the sand.
They get this mindset around getting the property sold before Christmas. Once Christmas comes, the market dies for a few weeks until the kids go back to school. And towards the end of January, it cranks up again.
If the property doesn’t sell before Christmas, it’s going to be lying for a month or so, until the market gets going.
So you will find that vendors are more likely to consider your offer because there’s that sense of urgency to get it sold by Christmas.
Likewise, the agents know that if it’s not sold before Christmas, it’s going to be lying around for another month.
Once a property has been on the market for a period of time, buyers tend to think there might be something wrong with it. They don’t necessarily put two and two together and it goes a bit stale.
For that reason, agents are really keen to get the property sold prior to Christmas as well. They will be more inclined to work with you to get your deal over the line in those weeks leading up to Christmas.
Now the third thing that happens around this period of time is that everyone gets busy planning their holidays.
The numbers at the open inspections drop off. A lot of people just drop their property search to do other things, so the competition dies.
If there’s a time when you get a good deal, it would be in those weeks. And I really encourage you to take the opportunity and get out there and start looking.
The last thing I want to say is:
If your goal is to do so many renovation projects or buy so many investment properties in your next year, don’t wait until the new year to start your property search. By the time the market has kicked back in towards the end of January before you know it, it’s Easter and almost half the year is over.
Whereas if you can get your property bought in December, you are set.
And you can hit the ground running in the New Year.
So the moral of the story is when others zig, you zag. Don’t drop off the property search.
Maintain the momentum and start the new year powerfully with your project bought and ready to go.
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