What is the best month to buy a house?

What is the best month to buy a house?

Are you looking to buy a house, but unsure about the right moment to proceed? Let's see, month by month, the best times to acquire a property.

11 Aug 20236 min

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Buying a house is an important decision in anyone's life. Therefore, knowing in advance the best time to buy your ideal property, the decision becomes easier to make. But the best month to buy a house is relative: it depends on each individual's financial commitments.

If you want to move forward with the purchase of a house, save a few minutes of reading and go straight to what matters: Contact us to search for a property or for home loan intermediation. To find out more about the best month to buy a house, keep reading below.

January to March

January, February, and March are the first three months of the year and the first low season. January is usually a month of recovering from the expenses of the holidays and Christmas vacations. In February and March, Carnival is celebrated, which can also lead to expenses.

However, being the low season, in these months you can take advantage of sales and have low-cost vacations. The same applies to the real estate market, which is experiencing a drop in prices, although there may be little supply.

When buying a house, you gain an advantage: the visits at this time can be more realistic regarding the cold and rain. If the property does not have good insulation, or is prone to mold due to humidity and infiltrations, in these months is the best time to evaluate.

April

April is the Easter month and a time for offerings for believers. But that's not all! April is the first month to submit the IRS and IRC declaration, and declaring early in the month can still result in receiving a refund or having to pay the respective amount by the end of April. This can either be a help or an extra expense, depending on each specific situation.

Therefore, April may or may not be a good month to buy a house, depending on whether you submit your tax return early, receive or pay taxes, and the respective amounts.

May

In May, the saga of IRS and IRC continues, still able to submit the statement, receive or settle any amount. But this month there is another concern for property owners: IMI. The Municipal Property Tax is due by those who own properties, and must be settled in May.

If the IMI value exceeds 100 euros, you can pay it in more than one installment, as follows: if it is between 100 and 500 euros, pay a second installment in November, and if it is over 500 euros, pay one installment in May, another in August and a final one in November.

So, in this sense, buying a house in May may run the risk of having to pay an IMI installment. However, after Easter, the real estate market gains more options in terms of supply.

June and July

June and July are months of the beginning of summer vacations, when the supply of properties decreases again because it is a time of rest for most Portuguese people.

It is also low season in terms of consumption, again with sales and low prices when it comes to travel. During these months, IRS and IRC are still ongoing, with the deadline for submitting the IRC declaration being May 31, and for IRS being June 31, but you can receive or settle the amounts over the two months (the IRC deadline is July 31).

If you receive holiday subsidy, it is possible to receive it with the June salary, which can be a good help for the initial costs of buying a house.

It could be a good time to buy a house, making it easier to check property details.

August

August is one of the most expensive months when it comes to the hotel market, as it is the hottest month of the year and when most Portuguese people take vacations.

If the IMI amount exceeds 100 euros and hasn't been fully paid yet, you may have to pay a second installment this month.

And this is the last month to receive or settle the IRS amount, having until August 31st.

It might be an interesting month to buy a house, despite the low supply , as it is a crucial time for visits: it is the hottest time of the year, will the house have enough insulation to protect from the heat?

September and October

September can be a month of expenses for those with dependents who will have to spend on back-to-school items. It is a costly season for parents, but significant in the real estate market.

In these months, a greater and more varied supply of houses begins to emerge again. However, the house prices increase at this time.

November and December

Contrary to December, which is often the month with the fewest real estate listings, November still offers a significant amount.

These are times of preparing for celebrations, followed by Christmas and New Year's Eve. November has Black Friday for those who like a good discount. And December is the most expensive month of the year, mainly due to all the Christmas gifts, and because it's a holiday season.

But in November you may still have to pay a third installment of IMI, in case the amount has not been settled before and exceeds 500 euros.

On the positive side, if you receive Christmas allowance, it is also delivered with the November salary, constituting a good complement to expense assistance, especially with the purchase of a house.

Buying a house in November or December may be more challenging due to it being a more turbulent time for finances. However, it all depends on the real estate market situation, as well as specific cases: if there are expenses like property tax to be settled, if you receive a Christmas bonus or not, among other factors.

In general, the best month to buy a house will always depend on each consumer and their respective obligations. Once you have a pre-approved housing loan (if you resort to financing), you can move forward with the process. In this sense, know that the credit intermediaries Poupança no Minuto are here to help! They clarify all your questions, mediating your credit with banks through a free service.

Simplify the process, buy a property with Casa no Minuto, through home credit, with the help of Poupança no Minuto.

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