Time Your Real Estate Activities
Timing is everything in Real Estate. It seems cliché but it is not impractical.
The two market cycles determine the quality of offers you get.
Buying during a sellers’ market is quite different from buying during a buyers’ market.
When you buy during a buyer’s market:
You have a lot of negotiating power because of the abundance of properties available.
This kind of flexibility is rare. It gives you an opportunity to thoroughly scrutinize your options because affordability is not an issue.
You are advised to buy during this period because real estate is unpredictable and this market does not stay open for too long.
The Sellers’ Market on the flipside favors the sellers more than it does you, the buyer.
It does not mean you will not get value for your money. You will just have to dig deeper into your pockets to reach the threshold.
This is because here, demand for houses is greater than the supply. This is where the bidding wars come in. To come out on top, you can do the following:
- Make your offer more appealing by reducing conditions.
- Show commitment with a larger deposit.
- Accommodate the seller’s timeline.
- Write a letter to connect with the seller.
- Get expert guidance.
- Be ready to make an offer fast.
While both these markets have their pros and cons, it is important to understand your needs, the internal and external factors in the economy so that you get value for your money.
Smart buyers get value for their money because they understand the cycles. Are you a smart buyer?
Call us on 0703790095 to discuss more options.
