Jennifer Jones
While you might not have more money coming in, there are still ways to increase your savings by making decisions on when would be the best time to make your big purchases.
Timing is everything. Knowing when to make a big purchase can be the difference between saving hundreds or even thousands of your hard earned money. There is however a big difference between getting the timing right compared to shopping during a sale just for the sake of it. Buying things on sale is an awful way to save but knowing when to shop is invaluable.
We have compiled this informative guide to assist you in getting huge deals on your big purchases.
Purchasing a house: December
The winter months see a dip in the housing market due to Christmas expenses and the unfavorable weather. This means that many potential buyers will put off house hunting until the spring. As a result it could be a lot easier to negotiate a sale under the asking price since the demand for houses is less.
Typically, with many people preoccupied with Christmas festivities, December would be the best month to purchase a home. A time of year with a quiet housing market and minimal competition means that you could purchase your dream home at a lower offer than would be possible during the spring. Spring is the peak season for home buying and high demand means higher prices. During the winter months when business is slow, estate agents and homeowners are more open to negotiations. In addition there are plenty of house buying tips out there to guide you in making this big decision.
Buying a car: October to December
If you are wanting to buy a car, aim to buy between October and December when dealerships tend to heavily discount their cars in order to improve sales figures and to clear the floor for new models arriving in the new year.
Here are a few other things to consider when purchasing a car:
- Winter vs summer – it’s a good idea to purchase a convertible during the winter when demand is low, since they are most popular and therefore more expensive during the summer months. On the contrary off-roaders are cheapest when the weather is good and should be purchased in summer for a good deal.
- Buy at the end of the quarter – Dealers will be looking to complete sales and this means it will be more likely that you are able to put pressure on them and negotiate a deal.
- Buy on the last two days of the month – As final sales figures are due at the end of the month, dealers will do everything the can do finalise a sale.
Furniture: January and July
Generally speaking, most companies release new furniture twice a year; February and August. This means that you can grab the best deals in either January or July since stores will need to make space for their new arrivals. During these months you will be able to find all sorts of items on sale. Look out for the clearance sales which would probably increase towards the end of the month when stores are desperate to get rid of old stock in order to make room for their new styles.
Televisions and other electronic appliances: November
Contrary to what we mentioned at the start of this article, Black Friday is the one exception to buying on sale, when it comes to televisions and electronics. During Black Friday and cyber Monday there are good deals on all sorts of electronics. Many stores really take advantage during this time and will have specials running at least a week before and after the Black Friday weekend. Just be sure to shop around beforehand and research prices to ensure that you are getting a good deal.
Luggage: March
Luggage can become a very expensive necessity which is why it’s a good idea to look out for the best deals. March is a great time to shop for any extra bags that you may need for your upcoming summer holiday since this is when it’s between vacation seasons which means shops are dropping prices.
Whatever it may be that you are shopping around for, always do your research and conduct price checks. Often times you can find exactly the same item for a substantially lesser pricer at a different store.
It all comes down to evaluating your needs and making smart decisions when it comes to making those big purchases. If you follow these guidelines, you could end up saving a ton of money. Happy shopping!
