Best Season To Buy A House In Lagos, Nigeria
The best season to buy a house —alongside freshly listed homes dictating higher price tags — is in full swing when schools break for summer (guaranteed).
While there are multiple ways to luxurious investment opportunities, there is only one major way that guarantees stress-free and high returns no matter how troubled the economy gets- that is real estate.
Brace yourself the chance to set the pace for the life you wish to experience. Buy a house.
Purchasing a house has been an essential milestone for adulthood. When we are tired of renting a portion of our monthly salary, where we spend most of our time in our office, having a comfy house after a long day at work gives us pleasure to do things privately. Buying a house also considers the season and time to acquire it.
Since prices tend to rise over time, a home purchase is one of the best investments you can make over time, a good reason for buying a house. Owning a new home gives you a great sense of security and stability, and knowing the best season to buy a house is a must if we want to have one. Remember that you can find houses during all seasons but knowing the best time to jump into homeownership means understanding the pros and cons of buying a house at different times – and deciding when it’s best for you.
Best Season(s) to Buy a House?
Homeownership brings many responsibilities, and it’s wise to make sure you’re ready for it before you buy for the first time. But as you can see, it has a lot of benefits. And contemplating the season before buying a house gives a significant factor to obtain your it properly.
Here are the best seasons to buy a house:
The season, month, and even day or week you buy can impact many different parts of the home buying process. It should consider your ability to buy one.
Why Summer Is the Best Season to Buy a House?
The best time to buy a house often ends up being in the summer. Today, there tends to be less competition than at the peak during this time, but a fair number of houses are still on the market. The other reason for this is an excellent season for buyers is that sellers who list their homes in the wet season are more likely to be highly motivated to sell.
If you want to have a more significant number of homes to choose from, and you don’t care as much about getting a bargain, you may prefer to buy during early summer.
Why Summer Is Not the Best Season To Buy A House?
First thing, summer favors the home seller. How? Real estate markets during summer come with high price tags. Inventory peaks in summer as homes fly off the market. Highest prices in summer, lowest in winter — usually.
Since there tend to be more benefits to selling in the summer, most people will avoid listing their homes on rainy days unless they have to. If you’re negotiating with someone who’s trying to sell quickly due to a job relocation, for example, you’ll have the upper hand. Knowing some factors other than knowing the seasons in buying a house plays a massive role in the home buying process, but other important factors to consider when determining the best time for you to buy a house.
2 Factors To Consider Before Buying A House In Nigeria
Knowing the Market Value
Acknowledge that the real estate market may fluctuate, including the factor of seasonality. Still, broader market forces can influence housing prices, inventory, and current interest rates other than this. COVID-19 pandemic is an example of a phenomenal season that affects mortgage rates in 2020 to respond to economic struggles.
Though we dreamt about having our own house, financial readiness is not always the question but also your self readiness in owning or acquiring a home. Personal readiness is crucial in determining whether you should buy a house or not. Make sure that you are not emotionally driven in doing so. Checking ourselves before initiating to buy a house is a must. It’s right when you feel personally ready to buy a new home and are comfortable with the current market conditions.
Regardless of the season, you’ll want to make sure your credit is in good shape, and your debt is under control before buying a house. The right time to buy a house is when you know your finances can handle the responsibility of owning a home. It’s right when you feel personally ready to buy a new home and are comfortable with the current market conditions.
Always keep in mind that the best or worst time for you to buy your dream house may depend on your location. If you live in a warmer climate, like Nigeria, you won’t find the typical seasonal differences in home pricing. Sellers won’t rush to make a deal in time like this because they’re not worried about any change in the weather putting a chill on the housing market.
If there is something we all have learned in 2020, it is that things can be unpredictable. Unlike housing markets which have fairly reliable patterns that we will see once again. Looking back, these trends from recent years will never go irrelevant in months and years to come, as buyers try to determine the best time to start home shopping.
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