Not everyone will unwrap the new year with a housewarming party but 47.06% of people would want to relocate either for the sake of price or choice.
Strictly speaking, every potential tenant needs to strategically consider when to rent an apartment. This is because several factors accompany paying rent; this may include cash flow influx, urgency, durability, and so on. But knowing exactly the time of the year to start hunting for a rental can influence the success of your house search. When your hunting is done at the right time, you will get the best at the cheapest rate.
The real estate market is seasonal. Getting to know these seasons will afford you the opportunity of landing your dream home at a price you can afford with zero stress.
Are you looking for a home? The opportune moment for the widest range of choices is between MAY and SEPTEMBER. This implies that houses are always vacant at this time. People pack out of their current abode at that time for loss of interest or otherwise.
Also, if you are looking for a new apartment with the best prices, the month of OCTOBER is certainly the best time to go in a search. Experts make it known that houses are cheap in OCTOBER because house owners settle many bills at the time. At the same time, most realtors renovate their houses between OCTOBER and NOVEMBER, therefore they always use the monies received from the lease to smooth run the money-consuming task and so they need more of it as soon as receivable.
A quick reminder is that the real estate market is rather cyclical than competitive and paying attention to these cycles will present you the chance to pay less for any rental.
During the month of MAY and SEPTEMBER, investment in real estate is always at a very high rate. This is due to the rapid increase in turnover during these months. Some scholars also add that houses increase in number during the summer months.
Darling reader, the months of the year that you can get the lowest rental rates are JANUARY and MARCH. During these months, demand for apartments and their prices are always sorely low.
One important thing for you who are looking for an apartment in 2022 is that an apartment search should begin in the middle of the month prior to the target move month. This is in tandem with the popular maxim “Rome was not built in a day”. Potential tenants need to get their mind and financial impetus prepared at the middle of the month prior to their potential departure of present home to make their search seamless.
Also, a survey conducted recently by our team highlighted that they (38.93% of our respondents) will love to move to a bigger or new apartment between MAY and SEPTEMBER. The reason is not far-fetched, clinical psychologists have supplied that life changes are likely to occur in those months compared to any other month. Graduates usually decide to open a new chapter of life during these periods, students often gain admission into higher instinstitutions during that period and would want an apartment close to their institutions, it is also the times that school activities resume for kids and teenagers, so, families with kids within schoschool-going age might decide to change their apartments for that sole cause.
Darling reader, don’t rent an apartment during winter. This is because weather changes play crucial roles in determining turnover rates in real estate. Whereas, the best time for you to get an apartment is during summer where there is always a wider selection of apartments from which to choose but prices are always hefty because of the multiplicity of interests making the cost of rates and rental fee for any apartment double the original amount.
The fluctuation of the economy directly affects the real estate sector and particularly, renting an apartment. Over the years, prices of rentals in urban centres such as Victoria Island (Lagos, Nigeria), Durban (South Africa), and New York (USA) is not proportional to what we will have in Auxerre(France), Imo (Nigeria) or Kansas (USA) and discrepancies in the sizes of apartment are also variables to be looked out for.
In conclusion, renting an apartment has a lot to do with one’s present condition, desired apartment, price, and moving flexibility. But if you should rent an apartment and your point of interest is multiplicity of choice, launch your target between MAY and SEPTEMBER. In the same vein, If you’re considering price and looking at renting an apartment at the most pocket_friendly price, rent your apartment between October and April.
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