It’s common knowledge that, towards any holiday season, and particularly Christmas, business slows – and the real estate industry is no exception. But does this mean you should avoid buying property during this time, or could it actually be the very best time to buy?
While you might have to let the phone ring a couple more times before the agent picks up on the other end, buying property is by no means dead during the holiday season. In fact, we believe the following perks of buying during the holidays actually make the upcoming Christmas and New Years break prime time for investing in an off the plan apartment.
One obvious benefit of buying in the holiday season is that demand is down. Most people take a step back from the property market to holiday, spend time with family, and recharge for what’s sure to be a busy 2018. With less people buying at once, you’ll be able to better control the tempo of the property purchase – and with less people looking to buy with the same criteria as you, you’re more likely to get to your first pick before someone else does.
Towards the end of the year, when the pressure mounts for property developers, agents and marketers to reach annual targets, a number of attractive deals tend to surface. These deals can include anything from a reduced deposit requirement to a lump sum of cash to a two year gym membership – provided, of course, that you buy before 31st December. Why not take advantage of the seller’s eagerness to meet targets and get a better deal for yourself? After all, it’s a lot of money you’re investing.
The holiday season is always followed by a market pick-up, where buyers have recharged over the break and are ready to begin their hunt for their perfect off the plan apartment once more. Come January, demand for the best properties will be hot and competition fierce, making for a more challenging environment to buy in. And with buyers approaching the market with this new-found vigour, it’s unlikely there will be any special offers or lowered prices to be had. So instead of getting caught up in the post-holiday market rush, why not buy while they’re all distracted by BBQs and champagne?
If your New Year’s Resolution is to own a beautiful off the plan apartment, your best bet is to ask for the gift of time this Christmas – time you can put towards locking down your property deal.