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If you were to ask Ali Ata what his most important investing lesson is, it’s that timing is everything. You need to know when the market is at its peak or at the bottom and what you need to do at any given phase. For instance, people tend to buy en masse in a booming market—if you want to buy properties at very low prices, it’s best to do so when the market isn’t at an optimal condition.
When you’re deciding when to invest in real estate, keep the following factors in mind:
1. Price trends
As mentioned above, buying homes is best done when conditions are less than ideal and properties are usually sold at a much lower price. But what if you’re actually selling your property? In such a case, you need to watch out for the opposite trend. The best time to sell your property is when there are more sellers than buyers, which also indicates that buyers are more willing to pay. This does, however, require a bit of effort as you have to constantly keep track of prices in your area.
2. Time of the year
Real estate properties tend to be cheap during the winter, but you should think carefully before making that purchase, especially if the home is located in areas with heavy snowfall. It’s hard to haul your belongings in cold weather and over slippery roads, so moving to your new home could also be problematic. It’s best to buy homes during spring—properties may be a bit more expensive, but you’ll have more options and less difficulty with moving in.
3. Personal finances
Ali Ata says real estate can be so attractive as an investment that many jump at the opportunity to buy properties even without considering their personal finances, often to dismal results. Before investing, make sure you have enough credit to avoid any problems in the future.
Real estate investment is quite stable, but its outcomes may vary depending on a number of factors. Understanding when the best time to invest is will help improve your chances of success and your gains from your effort.
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