Real estate expert reveals one day of the week is best to buy a home

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According to Scott , host of the HGTV show "Income Property," the best day of the week to buy is Monday.

He would know. McGillivray has invested in over 100 properties and even bought over 30 homes in one day, he told Farnoosh Torabi on an episode of her podcast "So Money."

SEE ALSO: Scott McGillivray reveals 5 mistakes that lower a home's value and more

As a rule of thumb, "Go shopping on a Monday, Tuesday or Wednesday," he explains. "If you're shopping for real estate on a Saturday and Sunday, you're not getting deals.

When's the last time you saw a real estate agent promote an open house on a Monday night? It's on a Saturday. It's on a Sunday."

See the 13 features homeowners desire the most:

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13 features homeowners want the most
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Real estate expert reveals one day of the week is best to buy a home

1. A laundry room (92%)

2. ENERGY STAR® appliances (90%)
3. Exterior lighting (90%)
4. ENERGY STAR® rating for whole home (88%)
5. ENERGY STAR® windows (87%)
6. Ceiling fan (86%)
7. Patio (84%)
8. Full bathroom on main level (83%)
9. Hardwood on main floor (82%)
10. Insulation higher than required by code (81%)
11. Garage storage (81%)

12. Table space for eating in kitchen (80%)

13. Walk-in pantry (80%)
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In fact, between a Saturday and a Monday — just two days — the market drops by nearly 1% every week, the HGTV star tells Torabi: "If you think about the average home price in America being around $350,000, you're going to save $3,500 on average by putting offers in on a Monday versus a Saturday."

Why is early week the ideal time frame?

Homeowners are "distracted with work and the kids' routines," McGillivray explains. "They're probably not getting a lot of other offers on a Monday, Tuesday, or Wednesday, so chances are, they'll very quickly and efficiently entertain your offer. A seller is much more difficult to negotiate with on a weekend than they are on a weekday."

No promises you'll save $3,500 by buying on a Monday, but it's worth a try.

RELATED: 10 real estates you should definitely follow

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10 real estate accounts to follow
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Real estate expert reveals one day of the week is best to buy a home

Illustrated Properties
@illustratedproperties
Based in Palm Beach Gardens, FL, this account exclusively features current listings (including prices) of mansions with pools. A fine display of true and massive Floridian architecture.

Photo credit: Instagram


 

Saunders & Associates
@hamptonsrealestate
Because who wouldn't rather be at a beachfront estate in the ever-glamorous Hamptons?

Photo credit: Instagram

MSM Luxury Estates
@msmluxuryestates
Based in Beverley Hills, CA, celebrity homes are often featured, as are infographics including statistics on the current market. 

Photo credit: Instagram

Joyce Rey Real Estate
@joycereyrealestate
Featuring estates everywhere from California to Italy, prime luxury pads are accompanied by shots of pretty decor, quotes and personal moments from Joyce Rey's glamorous life. 

Photo credit: Instagram

Houlihan Lawrence
@houlihanlawrence
The real estate firm that specializes in Westchester County and the suburbs of northern NY posts listings in real time, as well as shots of hip and marketable hotspots in the towns where they sell.

Photo credit: Instagram

Chad Carroll
@chadcarroll
This "Million Dollar Listing: Miami" star posts pictures and listings showcasing all of Miami's architectural beauty, from rooftop views to sleek interiors.

Photo credit: Instagram

Douglas Elliman
@douglaselliman
As one of the most prestigious real estate companies in the world, it's no surprise that this account is full of all things luxurious, including cityscapes, events, and famous landmarks.

Photo credit: Instagram

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