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When is the best time to buy a property? | Rules of Renovation

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Rules of Renovation | When is the right time to buy? If you’ve ever thought about buying real estate, you’ve probably asked this questions. After many years in the real estate business, I’ve heard this question countless times from friends, family members, and acquaintances.

There are lots of theories out there. Some might say it’s all about watching pricing trends. Others might say it’s better to buy during certain seasons or around certain holidays. So when is the right time to buy a house?

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When is the best time to buy a property? | Rules of Renovation

  1. 1. When is the Best Time to Buy a Property?
  2. 2. When is the right time to buy? If you’ve ever thought about buying real estate, you’ve probably asked this questions. After many years in the real estate business, I’ve heard this question countless times from friends, family members, and acquaintances. There are lots of theories out there. Some might say it’s all about watching pricing trends. Others might say it’s better to buy during certain seasons or around certain holidays. So when is the right time to buy a house?
  3. 3. The secret is: It’s always the right time to buy. If you found a great deal on a great piece of real estate that you love or that you want to flip, don’t wait around for a certain season or a certain trend or a certain magical time to come along. Real estate is an abundant industry at any time! I understand that buying and flipping houses can be intimidating. But if you are hesitant and need a little boost, here are four reasons to stop waiting and realize that now is the right time to buy a property.
  4. 4. 1. A good deal can come along any day Sometimes you get outbid at auction, and sometimes the seller is asking too much money for a property that has too much damage. There is such a thing as a bad deal in real estate. But there are also good deals. All the time.
  5. 5. 2. You make money when you buy a house It might sound like a weird concept, but you make your money on any property when you buy it. The profit you make comes into play because you got a great discount on the property and are now in a place to do the work to bring it back up to market value.
  6. 6. 3. You make money when you own a house, sell the house, or rent the house You might get lucky and flip your property quickly and at a great profit. The thing is, that’s not the only way to make a profit. You can make money even when things don’t go according to your first plan. Say you buy a property, but the market is no longer doing well. Not a problem. You can rent it out. (I’d recommend hiring a property management company to handle obtaining and retaining tenants and making your life much easier.) Perhaps you buy a fixer-upper but find that increasing curb appeal, or updating the kitchen, or any other necessary renovations or repairs are outside of your budget. You can wholesale your property.
  7. 7. 4. There’s no such thing as the perfect time The real estate business is a market-neutral industry. That means that to invest in real estate is to engage in an investing strategy that can profit from both increasing and decreasing prices in the market. The only timing you should be worried about is the time it will take to get your new property updated and sold. If you’re looking for more tips and tricks in the business of flipping houses, check out my program, The Rules of Renovation. I’ll help you better increase the value of properties through innovative and cost-effective strategies. You can register for one of our Rules of Renovation Seminars to learn more.

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