Mediating the buying and selling activities of real estate, which has been seen as an important investment tool in our country for years, is colloquially called real estate. Occupational professionals who direct the real estate sector have gathered information under one profession in order to perceive, interpret and develop many parameters that affect the investment activity for other people investing in real estate. This profession, which people try to summarize as real estate, has started to be made much more serious and professional in recent years, just like in the same world. People now know as real estate agents, real estate agents, real estate experts or real estate appraisers, by applying to these real estate sector experts to get help in choosing the real estate that will be the right investment for them.
As a result of the experience of real estate experts and thousands of surveys and data collection studies conducted both in the world and in Turkey, we are now able to give data-based answers to the questions asked by real estate investors. One of the most frequently asked questions to real estate professionals, which we can answer quite well, is “which months are the best months to buy a house”.
Parameters Affecting Property Prices
As all interested parties will agree, the main factor affecting the value of a real estate is the legal nature of the real estate. It is the qualification of the immovable as a land or land, which is understood from the legal nature. Relevant public institutions decide on this qualification. The zoning plan is taken into account when qualifying. The immovables on which residences or other immovables can be erected are called land, and the immovables that can only be cultivated otherwise are called land. Apart from this, the expectation that a zoning plan will be made also affects the variability in the prices of the real estates. Therefore, we can say that this is the primary factor.
Apart from this, seasonal perceptions are also extremely important. The housing buying and selling trend shows an increasing trend towards the summer months. Because the majority of working people in our country find time to rest during the summer months and decide on their real estate investments in these months.
During the long summer in our country, it also attracts the attention of foreign investors. And this situation becomes a factor that affects the prices of real estates. When we evaluate the issue under all these conditions, it is considered that an investment to be made in the summer months may lead to the purchase of the real estate at a higher value than its normal value. We believe that it is more logical to buy in September and after, when the market is stagnant, rather than buying between June and September.
Another factor affecting property value is the level of housing incentives and interest rates. As we may remember, interest rates were determined at very reasonable prices by public banks last year, and as a result, there was an extraordinary increase in housing prices. As potential buyers tend to evaluate interest rates, prices were reflected in the supply-demand balance.
Local Research and Its Importance in Real Estate Purchase
Sometimes, it is observed that there is an unusual increase or decrease in prices in some regions due to various rumors. Especially after natural disasters such as natural disasters, housing prices tend to decrease in regions where natural disasters occur. Although the fact that the houses are not resistant to natural disasters may be due to the fault of the company that built the house, people are psychologically hesitant to invest in that area.
Again, it is observed that the prices of real estate tend to increase in the regions where these products are grown, as some products are more popular with the public periodically. When viewed holistically, some of the factors affecting the price of an immovable are predictable, but some are not. In the last six or seven years, foreign investors’ interest in certain regions of our country has brought real estate prices in those regions to an unpredictable level.
When Is The Best Month To Buy A Home?
Seasons can be considered as an important real estate purchase criterion when considered independently of the economic conditions or seasonal effects in the country.
Late summer is the best season to buy a home if you want a shopping experience with enough inventory to find a home you love while taking advantage of sellers who drop prices before fall. Therefore, considering the other conditions, the best month to buy a house is August.
Generally speaking, in the fall and winter, buyers have fewer options but more flexibility in price. In the spring and summer, buyers have more options but less bargaining power.
You are also likely to buy a house for a better price in November. But you may have fewer options.
For more options, you might consider buying a home in April. If you want to see more house listings to choose from and don’t mind paying extra trading commissions, April is the month with the most recent and abundant real estate listings on listing sites like Emlak Sitesi. Spring and early summer are good times to find and buy a home you love.
Most real estate listings remain on the market for a short window between April and June. If you’re planning to buy a home in a city with harsh winter weather, you can typically find twice as many active listings in May and June than in December or January. However, in temperate markets the “more postings in the spring” pattern is much less noticeable.
As more buyers shop in the spring, a home you buy between March and May may cost more than a similar home you buy in November or December. The period between late autumn and early winter is therefore again the best time for buyers on a budget.
What Are the Personal Conditions That Determine When You Buy a House?
Buying a home or buying a very expensive home before you’re financially ready can put you at risk of defaulting on your mortgage down the road or ultimately losing your home due to foreclosure.
Owning a home is expensive. Research also shows that the hidden costs of hosting are neglected. These hidden costs may be more visible items such as taxes, insurance and utilities payments. In addition, it may include items such as maintenance, repairs, landscaping and cleaning that can be added.
Buying a home that is not maintained or renovated can bring even more unexpected costs, especially in the first few years of home ownership or when the home’s main systems fail. New construction tends to come with a higher price tag, but there’s less risk of unexpected spending because everything is brand new.
If buying an old home makes you nervous, you should consider buying a home that has been recently evaluated and cleaned.
Finally, remember that your housing expenses are only one part of your personal financial statement. At the same time, it can be difficult to cover a mortgage and its related expenses if you are in the middle of medical expenses, children’s education payments, are retired or have an unstable income source.
Recipient’s Mental Preparation
Deciding the right time to buy a home is not just about money. You must also be mentally prepared. Owning a home is a new way of life. It entails more responsibility than renting as you are the only one responsible for maintenance, repairs and upgrades. That’s why some people decide to stay as tenants. When you rent, those major responsibilities and day-to-day maintenance fall on the landlord instead.
Relocation Possibility
If you are likely to move to a new city in the next few years, it may not be a wise decision to buy. If you plan to live in the same house but for more than three years, it will be more cost effective to purchase. After living in a home you own for three or more years, the equity gains from the home’s appreciation and paying off your mortgage can often be enough to help cover the upfront costs of the purchase.
Conclusion and Recommendations
If we ignore the effect of all variables and focus only on the question of which time of the year is more attractive to buy a house, it is obvious that it is wise to make purchases in the autumn and winter seasons. We believe that it would be a wrong choice to buy in the spring and summer months, as the demand has an important place in the price increase and it is seen that the demand for a product may cause the product to deviate from its real price.
In addition, since economic conditions are the main factor in owning a house in our country, we would not be mislead if we say that the best season to own a house is the season when both the country and you have the right financing conditions.
