After much thought and research, you’ve finally decided that you want to purchase a property for the purpose of renting it out for additional income each month. Whether this is your first foray into the world of real estate investment or you’re a seasoned pro who’s on the lookout for your next property, there are plenty of good reasons to buy such properties during the winter.
1. Less Demand for Homes
One of the key reasons for choosing to purchase a rental property during the winter months is that you’ll simply have less competition. Year after year, it’s been proven that most people are interested in purchasing a home and moving into it during the spring and summer. A big reason for this is that children are approaching the end of the school year. Moving to a different school district won’t affect them as much if it happens during the summer months.
2. Home Sellers are Eager to Negotiate
As the holidays approach, the number of buyers who are interested in purchasing a home — whether they want to live in it or they’re investors as well — tends to dwindled markedly. This can make a home seller more likely to negotiate, especially if their home has been on the market for awhile or if they have other circumstances that require them to move soon.
3. Greater Value
According to a study by Realtor.com, about half of the homes that are on sale are purchased during the summer. A RealtyTrac survey that analyzed 15 years of condo and homes that were sold of a 15-year-long period of time found that discounts for home prices fall the most during the cooler months. October, for example, saw the greatest discount in price with was 2.6 percent.
Once you’ve found that perfect investment property, turn its daily running and care over to the professionals at Real Property Management Las Vega. We provide an array of services for properties of all types. Contact us today for more information!