When is the best time to buy a home in Greenwich
As with anything you decide to do in life, whether it’s looking for a new job, deciding to have a baby or get married, or moving into a new home, there are better time to do this. This doesn’t mean quite literally when is the best time in your life to make the move to Greenwich, this means at what time of year is the best to decide to move. To further on this idea, when is the best time to make an offer on a property? These questions are all investigated here. Spring is an excellent time to buy a new house as at this time of year the property market is overloaded with properties for sale. This of course does unfortunately mean that there are also a high number of people of people buying houses during the spring season, which can increase your chances of finding yourself in a bidding war or worse, missing out to another couple who perhaps offered more or was quicker off the mark than you. Taking all of this into consideration it is often better to try to buy a home in December and January months. There are fewer buyers during these months, as people either do not want to move to close too Christmas, or cannot afford to move close to Christmas time, or do not want to go house hunting during the cold months, for you this means less competition in securing a property. In the month of December house prices drastically fall to a 12 month low, this may save you hundreds or even thousands of pounds when it comes to buying your property. The best day to make an offer on a house is Christmas day, for two main reasons;1. Very few people actually make an offer on a property on Christmas day, therefore by doing this you are giving yourself an advantage over other buyers. The fact that you have made an offer on this day shows that you are a serious buyer. 2. People are happier and more joyful on Christmas day, caught up in the festiveness of the season, they may be more receptive to accepting an offer, even one lower than they had asked for, simply because it is Christmas day.The next best day to make an offer on a house is on Easter Sunday, for many of the same reasons it is good to make an offer on Christmas day, because the Easter holiday also includes Easter Monday your offer could be accepted before the holiday has even finished. If you do decide to make an offer either on Christmas day or Easter Sunday, you will need to ensure that you have an estate agent you is also happy to work those days. Within the month, the best time to put an offer in on a property is the first Tuesday of the month. The reason for this is that the seller will most likely have just had to pay their mortgage payment on the property, in doing so they are reminded that they are paying for a property they no longer want and this heightens their desperation to sell temporarily. If you are moving from a rented accommodation to buying your own property, you should calculate the rent ratio to see how this is going to affect you financially. Get the listing price for the house and divide this by the rent you would have to pay for one year in your current property, you will be left with a number. You ideally want this number to be 10 or as close to 10 as possible, the closer the number gets to 20 the more you are going to be paying for your own home, therefore, it may be better for you to wait a while for property prices to drop.