When the property market heats up, there's a rush to get in and not miss out. But what are the benefits of going against the flock?
Here are some considerations for buying in a cooler market:
- Better choice – With more listings on the market means buyers have a better selection to choose from.
- Less competition – with fewer buyer to compete with you might just secure a property you otherwise might not have in a hot market.
- Lower prices – with less competition there’s less chance of being outbid. Buyers can purchase at a lower price and even below the asking price.
- Favorable contract negotiation – with fewer competitors, buyers can ensure contracts are weighed in their favor.