PH Real Estate - When is the Best Time to Buy a House in the Philippines? And Why?

Yes, Virginia, there’s such a thing as the best time to buy a house. Why? Because there will always be factors that can affect the purchase of real estate properties. In everything that you do, you must know when to do it. A perfect timing for any activity will benefit you the most. Buy a house at the right time and you won’t regret it.

So, when is the right time to buy a house in the Philippines?

The right time to buy houses in the Philippines is during the cold season, the months of October to February. There are rare times that that July made it to the list. 

These months are the best times to buy properties because of the following:

1. Prices are the lowest

Discounts are greatest during these months, thus, prices are lowest. Researchers have noticed that during these months the discounts can go as low as 10.1%. 

Considering the prices of the properties, this is already a humongous markdown, which every buyer should take advantage of.

The reason of the lower prices must be because of the effect of the law of supply and demand; wherein, there are fewer buyers and more sellers.

When there are more sellers than buyers, the inclination of sellers is to lower their prices, so their properties could attract more buyers. 

So, if you want to buy a house, save your money and wait for these months. With discounted prices, you could buy one or two houses that you could invest on. You can acquire a profitable investment, if you know how to play your cards well.

The problem is that more and more buyers are becoming aware of these months, so there will come a time that buyers will increase significantly. When this happens, the demand becomes greater; hence, the prices will tend to increase.

2. More sellers, less buyers

This is the cause of the price reduction explained in #1. It has been the trend for quite some time now. Although this is not always the case; this is usually the scenario. 

This may be so because sellers are preparing for the holiday season, Christmas and New Year, which are expense-laden months. Typically, Filipinos have family reunions during these Christmas Holidays. Relatives from abroad often come home to be with their families.

Also, customarily, buyers refrain from buying real estate properties during the holiday season to save money for the night long celebrations. 

Well, if money is not the issue, then the buyer may opt to buy. But, definitely, there will be fewer buyers because they would want to have spending money for the two Filipino holidays that come only once a year – Christmas and New Year.

For sellers, it’s a season to splurge on, so cash should be at hand to spend during these vacation holidays. One of the sources of cash is the sale of real estate properties. 

3. Great weather to tour properties

Months of October to February are also months in which the weather is great. It’s not too hot because summer is gone, and also, the rainy season is coming to an end. It’s preferable to tour the properties when the air is refreshing and cool on your face.

Thus, it’s a good time to inspect because you will not be drenched with sweat scrutinizing every portion of the house.

It would be difficult having a ‘tripping’ (property tour) during summer because of the intense heat. The Philippines is a tropical country so, summer days are extremely hot with temperatures reaching to as high as 33 degrees Celsius.

On the other hand, during the rainy season, it would be a bother to tour properties with the rain pouring down your back with some areas flooded and impassable. 

Some realtors say that 50% of houses are sold during summer. If this data is true, then this means that there are more buyers during summer. Perhaps, they are not aware of the big discounts during the “ber” months.

That’s a pity. Now that you know you can use this information to help you out. You could try purchasing your property during these best times. Who knows? You may be able to buy your dream house at its lowest price. 

Let’s cross our fingers and hope that there will still be fewer people who know of this information, so you won’t have competitors to lessen your chances of obtaining a big discount.

However, don’t forget to put aside your budget for the holidays, so you won’t touch your budget for the purchase of your new house.

Tips in buying during these months

Take note of the length of time the property has been listed. The longer it has been listed, the greater should be your discount.

Ask for an outright discount at the onset. Of course, do it with diplomacy. Sugar attracts more ants than vinegar.

Don’t walk out of the negotiation table unless you have obtained the target discount you have set.

Haggle with the price of the property. Request for a maximum discount, and then lower the discount in increments of 1%. Stop when you have reached your target discount.

Example: If you have set your target discount at 10%. You can ask for a 15% discount at the onset. Lower it by increments of 1%; hence, ask for a 14%, then 13%, 12%, 11%, when you ask for 10% stay put. If it’s not granted, walk away from the negotiations.

Avoid bidding. Simply wait and be patient, so you could obtain the best deal.

Conclusion

Grab the opportunity to own a house by saving your money and buying at the right time – the ‘ber’ months (October, November, December), then January and February. When you save your money in the bank, it can even earn some interest for you. 

Learn how to bargain for the proper discount. As a buyer, you should always include bargaining in the process. It should never be omitted.

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