There’s usually the best time to engage in any form of investment, a sort of high season, and this is true for the land market. Acquiring landed property means you have disparate investing reasons, and profitability might depend on buying that real estate when value conditions are right. So, when is the best time to purchase land?
Fall and winter, or the colder months, is the best time to score a stellar land deal. December, January, and February have been tagged as excellent periods to buy property, since during the winter months the competition is low among other buyers and as a rule there is an excess of inventory. So, low cast, rainy or snowy days are essentially when competition is down. However, exceptions do occur, and prices may be determined by the location of an acreage you’re eyeing.
Cold, Rain, and Snow Are Best For Purchasing Land
Colder months are the best time to buy a piece of land, which holds for both developed and raw land. With the holiday season and hunting, plus winter, there’s less competition as properties listed have been on sale for months since the spring boom. These sellers and those looking for a quick sale will be flexible on the asking price, letting you have even new listings for less.
Reasons why the cold season is the best time to purchase land include;
Little Buyer Competition
Fall and winter are prime property buying months, unlike spring and summer as dictated by conventional wisdom. Besides the weather, very few people have land purchases on their minds during the holidays, plus there’s less work turnover on account of traditional budgeting cycles.
Sellers Are Desperate
Any seller that lists their land for sale during the holidays is desperate for cash, and the pool of potential buyers is almost dried out. New listings and those there for months will indicate that these sellers can’t wait for the high buyer turnout of spring or summer. You are more likely to win a lower than market value price for a genuine land investment.
When the Land Is at Its Worst
The best time to see a piece of land is when nature is battering it with harsh conditions. You can test how the soil holds up against heavy rains or how accessible your land is when country roads are snowed out. If you can see the land’s potential under the shaggy of cold weather, you’ll be making a profitable decision as opposed to being dazzled by sunshine meadows.
Drainage is an essential factor, especially when buying rural vacant land. If soil can’t drain well, your intended agricultural operation could be at risk. Areas that flood are also prone to water-borne parasites and diseases, for which continuous spraying also harms the environment.
Isn’t There a Lack of Land Supply during Cold Weather?
An unnamed investor once said that you should buy land as they aren’t making any more of that stuff. As land will always be in shortage, that adage is true, more so as the future beacons. But there are always plenty of listings during cold months, both physical and online, from sellers seeking to beat the competition during warmer months.
You’ll find acreage for sale in all places on the map; some you may find desirable and others probably not. According to market observers, while the demand for property rises in spring and summer, new land listings increase during fall and winter.
You Have Adequate Time to Use the Land for Summer
If nothing else, a cold month land purchase allows you ample time to prepare for warm-weather activities. It could be you are buying recreational or hunting land, or you want to start tilling in anticipation for spring planting time.
What Other Factors Support Buying Land in the Fall and Winter?
Several secondary factors determine when the best time is to purchase land as a savvy investor. With the perpetual unavailability of land, adequate buyer’s interest will drive up prices. The market is also dependent on the debt to asset ratio of farmers and other landholders who may want to expand their holdings when the past year’s profits have been good.
The value of quality land is supported by the expectations that there’ll be a need for agricultural, residential, or recreational products and facilities in the future. As the median income improves, the property market also anticipates an influx of first-time land buyers.
Additional land listings and sales that have been listed for months are available at low market values during the fall and winter. Sellers that seek buyers at this time are willing to offer room for negotiation, resulting in a better price.
Foul weather is also the best time to survey a prospective plot to ensure that the seller isn’t covering up floodplains or inaccessible routes. While you will keep an eye out at the land market all year long, knowing when to seek that negotiable deal is ultimately profitable.