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The most popular time to buy a home

Now could be the right time to make your move in the property market.

Now could be the right time to make your move in the property market.

Spring is often touted as the peak period for buying or selling homes in Australia. But that may not always be the case.

According to listing website January has been the most popular month for house and land buyers to check out online listings.

But rather than circle a month on the calendar, a better rule of thumb is to purchase when you are ready. There are always good buys to be found for those who are prepared to do some homework.

It all starts with knowing what you can afford to pay, and a useful tool for this is our borrowing capacity calculator.  For a more accurate figure speak with your local Mortgage Choice home loan expert.

A value-packed market

As it turns out, early 2016 is shaping up as an ideal time to look for a first home or upgrade to your next home. 

Property prices in a number of state capitals have cooled in recent months giving home buyers some of the best value seen in years.

Figures from CoreLogic for example, show median values fell in December 2015 across Sydney, Melbourne, Darwin and Hobart.

We're not talking about a property crash. Far from it. But there is no doubt buyers in many areas are getting more bang for their buck right now than they were, say, a year ago. And of course this all goes hand in hand with our ongoing low interest rates.

The competition may be less intense right now

The ‘best' time to buy property is when nobody else is. That could be right now. With much of the workforce still wrapping up their summer holidays, you could have Open Home inspections to yourself. And that means the luxury of less competition.

Before you hit the road to view homes listed for sale, give yourself an extra advantage by asking your Mortgage Choice broker about arranging pre-approval for your home loan. This takes the guesswork out of your buying budget and lets you make an offer or bid at auction secure in the knowledge that loan finance can be completed quickly and seamlessly.

Make the summer of 2016 your time to buy a new home. Your local Mortgage Choice home loan expert can help you find the home loan best suited to your needs, and our home loan service comes at no cost to you. Get started to today by calling us on 13 77 62. You could be in your new home by Easter.

Posted in: Home loans

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