Christmas seems to start earlier and earlier, and while it’s easy to think “let’s leave it to the New Year”, there can be advantages to viewing property in the quietest months of the year. Here we explain why it could be worth your while booking your flight today.
Itching to get your overseas house-hunting project underway? Perhaps the UK’s downbeat Budget statement from the government – or indeed the USA’s government shutdown – has prompted you to acceletrate your plans.
If you’re in the right position logistically and financially, there is no reason to wait until winter is over before jumping on a plane and looking at homes.
Here are some reasons and top tips for starting early.
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View property without the crowds and heat
Buying property overseas should be fun, but you need your wits about you. Dealing with summer sun, busy streets and traffic jams may not be the perfect recipe for a wise decision. This is why viewing trips in high season – typically July and August in Europe – are less popular, especially in big tourist resorts.
View properties overseas in winter and you avoid airport queues, high prices and just crowds generally. You can focus on the job in hand – choosing the right property and location for your future.
Better access to properties
In resorts and areas popular with tourists, getting access to properties to do viewings can be difficult in the summer or high season months. They tend to be occupied by either the owners enjoying time in their second home or paying guests renting it for their holidays. Neither will want to be disturbed by potential buyers nosing around the premises!
For this reason, local estate agents prefer to avoid viewing property with clients in peak season. Many will be busy with managing rentals and maintenance for their existing clients. Arranging other important procedures or meetings that come with a property purchase can be tricky too. These include opening a bank account, setting up power of attorney with a local lawyer or liaising with a notary – these people or their staff all need holidays and typically spend extended time with their families over the summer when they often work limited hours. In short, it’s far easier for everyone for viewings to be done during the quieter months. Not only will you have a far better choice of properties to view but there’ll be more flexibility in when you can visit, and your agent will prefer it!
Cheaper, more flexible travel
As we all know, the cost of air fares drops considerably outside of the summer season or key school holidays. There’s more availability and it’s easier to book seats too. Moving through airports at either end is a less stressful experience, given the absence of families off on their hols. Just beware of winter timetables when the frequency of flights between many destinations can be reduced.
You should also save money on accommodation for your viewing trip. Hotels and privately rented properties, such as Airbnbs, reduce their prices in the quieter months. They also tend to be more flexible over arrival and check-out days and the minimum number of nights you must stay. They’re grateful for any reservations outside of peak season when they make most of their money.
When to get the best deals viewing property
Like many things, activity in property markets is seasonal. This is due to user habits and happens pretty much everywhere, the local dynamics dependent on the demographic of the owners and location. Generally, summer is always quiet in terms of interest and sales, for reasons mentioned above. Many vendors like to max out peak season rental income or their own time at their second home before they sell.
Spring tends to trigger a wave of new listings, as the world wakes up after winter and there is a sense of new beginnings. This means you’re likely to have a better choice of properties to view. Meanwhile, there could be a deal to be done on any properties that didn’t sell the previous year and have been lingering on the market.
At the same time, vendors are often more open to cheeky offers after the summer and before the end of the year. Chances are they put their property up for sale in spring, with the expectation to have a buyer and everything signed and wrapped up by Christmas. The old adage ‘new year, new start’ still stands. As the year draws to an end, vendors who are still waiting for an acceptable offer should be willing to negotiate.
Reserving a property in the last quarter of the year can also benefit buyers of new-build properties. New phases of developments are often launched in Autumn, giving early buyers the best selection of apartments, villas, or plots. And as the end of the year approaches, developers in European countries may be inclined to offer incentives to get a deal over the line before the end of the tax year on 31st December (unlike the UK’s tax year).
