When’s the Right Time to Buy a Property?

A frequently asked question revolves around the property buying process – When is the right time to buy a house?

There are a number of factors that might influence your choice, including your budget and how long you want to remain in the house. The timing of a house purchase is also influenced by a variety of other market and economic considerations.

As a rule of thumb, the spring and summer months see a greater number of houses listed for sale, but the real estate markets tend to see a slowdown during the winter months. However, the degree to which these distinctions impact the costs and alternatives available to you in a given location varies.

Apart from this forecast, there are a lot of other things that may help you when deciding the right time to buy a house. In this blog, we will explain all the major factors in detail.

If you want to buy real estate in Pakistan but are not sure about the right time to make the purchase, keep on reading. 


Seasonality plays a crucial role in the home buying process.

In keeping with the changing of the seasons, the real estate market often experiences a slowdown throughout the winter months. Because fewer people are moving about during the winter months and both supply and demand are often at their lowest levels.

It’s possible that prices will be on the lower end, and you’ll have a smaller chance of getting into a bidding battle.

The beginning of spring is typically when homeowners decide to put their properties up for sale once more. You will have a ton of alternatives to choose from because more properties are being posted for sale by real estate agents and websites such as Graana.com.

However, you should be aware that there will be other homebuyers in the market at the same time as well; thus, you should prepare any mortgage application paperwork in the event that you locate the right property.

The bustle of activity that occurs during the spring typically carries over into the summer. The real estate market is anticipated to display significant levels of inventory as well as high levels of competitiveness.

There will still be many houses on the market, but you shouldn’t hesitate to make an offer if you locate the home of your dreams at a price you can afford. There is a strong possibility that the choice will be unavailable in the future due to the intense competition.

The beginning of October is traditionally considered to be the prime time of year to make a real estate purchase. Before the start of the new school year, families had already moved into their new houses and established themselves there.

However, as compared to other times of the year, the quantity of homes currently available on the market is still very large, and sellers may be motivated to make a sale.

It is important to keep in mind that although September is the month when buyers, on average, get better discounts, this could not be the case for you. The elements that might impact the price of real estate can be quite local in nature.

Mortgage Rate

The first quarter of 2022 marked the beginning of an upward trend in mortgage rates. Because of the increased cost of house loans, higher interest rates reduce consumers’ purchasing power.

It is crucial to look around for the greatest rate available, regardless of where average rates are, and then make sure that you can afford the monthly mortgage payment after you have found the best rate. You may do the math for yourself with the assistance of a home affordability calculator.

Review Your Own Goals

Consider the things you want out of life, the people you want to spend it with, and your hobbies. How long do you foresee yourself being able to call this place home?

In a perfect world, you would stay in the house long enough for growing property values and your equity to outweigh the costs of purchasing and selling the home, which would include fees paid to real estate agents and the costs of closing on a mortgage. In most cases, this will take a considerable amount of time.

In the event that the value of the home increases and you sell it less than two years after purchasing it, you may be required to pay capital gains taxes.

Before you start looking for a new home, double-check that your finances are in order. If you made such a significant purchase, would you be able to properly manage your finances?

Think about what you require in terms of housing as well. How many individuals are going to call this house their home? How long are you planning to stay at your new location? Explore several towns, cities, and neighborhoods in search of the ideal setting for your family, career, and other essential factors.

Consider additional costs like upkeep and repairs, as well as finances for unexpected events. In the event that your roof springs a leak or your furnace stops working, you need some financial cushion.

Keep an Eye on the Demand Trends

If it’s at all feasible, try to buy a house when the market is favorable to purchasers; when the costs are quite reasonable, and there is a plentiful supply. Buyers have a better chance of getting a property at a lesser price when there is less demand.

The opposite of a buyer’s market is a seller’s market, in which prices are high and availability is low. In this scenario, sellers have the ability to pick and choose various offers to examine, and then select the offer that best suits their needs.

When there are many bids on the table, it might spark a bidding war. This indicates that if your offer isn’t the highest one, you run the risk of losing the house of your dreams. Whether the market is favoring buyers or sellers, a knowledgeable real estate agent will be able to assist you in striking the best possible bargain.

Is It a Good Time to Purchase a Home Right Now?

Even if the COVID-19 epidemic has had a significant influence on the housing market in 2021 and 2022, property prices have not yet reached their lowest point.

When there are fewer homes available for purchase, the market is said to be in a seller’s market. This occurs when the number of people looking to purchase a property is greater than the number of properties available for sale.

However, this has not occurred in the majority of markets. As a matter of fact, the rise in house purchases may be attributed to historically low mortgage rates.

If you are able to secure low rates for the duration of your mortgage, you may save yourself thousands of Rupees over the course of the loan. If you have an established credit history and a stable employment history, there are chances available for you to apply for a loan.

However, you may be required to pay a higher price for a house. A rush of new purchasers entered the market as a result of the reduction in borrowing rates; nevertheless, the supply of properties did not expand proportionally during this time period. 

This indicates that, depending on the market in your area, you may be up against a great deal of competition. You might have to move quickly if you want to buy a house that was relatively easy to acquire a year ago but is now drawing a flood of bids instead of just a few.

Take advantage of the historically low mortgage rates if your financial condition is stable enough to do so, and consider applying for a loan. Even in that case, there is no reason for you to feel hurried because there is no sign that the rates will be increasing in the near future.