Some interstate movers say that apartment hunting can be an exciting process, especially if moving into a better neighborhood or a bigger space. Often, a movie’s timing can’t be negotiated, whether it be due to an expiring lease or unforeseen circumstances that force a quick move. But, if you can time your next move for when the market gives the renter the advantage, you could save a small chunk of change in your monthly rent. So when is the best time of year to move, and when is the worst? Let’s take a look.
Okay, maybe it’s not the best time of year for you to move personally speaking, especially if you live in a colder climate that leaves you fighting with frigid temperatures and possible snow in the middle of your move. But, financially speaking, a move during this time of year will fetch lower monthly rent, saving upwards of $200 per month. Most everyone else chooses to move during warmer months. For families, in particular, moves are made when the kids are not in school, just after the school year, or right before school starts back up. You may hate making a move in the middle of winter, but your wallet will thank you.
Some markets aren’t as flexible as others. You’ll see much slimmer margins on saving in large cities where the market does not fluctuate much. In more rural and suburban areas, particularly in areas of the country with distinct seasonal weather patterns, the savings will be much more noticeable. The savings should be enough to have a little more grocery money at the end of the month, kick a little extra into your savings account, or splurge on an upgraded cable package, for instance.
You may have guessed it already, but the most popular time of year, which makes it the worst time, is moving in summer. Everyone and their brother wait to move to a new place until the summer season because the weather during this time of year is warm, and it’s the time of year school not in session. So naturally, you face more competition when apartment hunting. Landlords take advantage of this and hike up the advertised monthly rent depending on the apartment’s size. During the winter, apartment seeker numbers are at their lowest, so landlords lower advertised monthly rent to attract prospective renters.
Your options will naturally decrease during the summer, meaning you may need to compromise significantly on your apartment wish list. This problem is especially evident in more populated areas where apartments go quickly enough as it is. If you’ve got a wish list you’d hate to compromise on, wait until winter to go hunting for our new home, if you can. While considering the best time of year to move, consider other factors that may present an opportunity worth taking, such as new builds with grand opening rental rates or complexes developed in less developed areas.