The truth is that it will depend on many factors, however a very good time to do it (at least in the United States) is late summer, as you will be able to get a lot of properties listed on the market whose price has already dropped a bit. However, if you want to save as much money as possible but without many to choose from, the perfect time would be between the months of November – December. Keep in mind that if you decide to buy in these seasons you will have less bargaining power, as sellers will not have much margin to lower their prices, this does not mean that you will have more difficulties, it is just one more aspect to take into account when looking for the best investment.
Whatever the season in which you decide to invest your money in a property, here are some tips that will help you acquire more benefits from it:
- Look for deals:
“Buy low and sell high” is a simple rule to follow in real estate. If you are able to find a bargain, even if it’s for a tax property, sell it right away. If you buy it too high, you will just be spending money.
- Focus on developments:
Focus on developments because it’s hard to lose money. Remember you’re aiming to get the highest return on your money. The properties under development are usually much more economical and that way you will be able to invest the money you “saved” in the purchase to invest it in the equipment and additional remodeling. That way you will get a better return on your investment and achieve a higher percentage of profit if you decide to put it back on the market.
- Invest in property with little competition:
Property with little competition is a great place to put your money. These are homes that are easily available. There are homes that are priced too high for the type of tenants they attract. These homes are often more expensive and will also include the same amount of repair, so that you’re really paying a lot for little return.
Pro TIP: A perfect place to find good deals is when it comes to bank owned properties. These properties are easy to find and almost always include a few upgrades. This will keep them affordable and you can pick up some nice homes at a big discount.
With these tips you are now ready to start venturing into the world of real estate, invest and receive a good return. Remember to always study the market by seasons so you can have a clearer idea of when to enter and when to exit a property. These are data that usually vary from country to country, even from city to city depending on demand, rental prices and many other factors.