When it comes to the real estate market, there’s a clear-cut annual cycle: people rush to buy and sell in the spring and summer, and by fall the market is much more relaxed. But these quieter, golden-leaved months may be the perfect time for a real estate purchase. With less competition and more motivated sellers, here are some of the reasons why you should consider buying a home this autumn.
There’s less competition
Though people consider fall to be off-season in real estate, there are still plenty of houses for sale. These include new inventory and properties that did not sell in prime season. However, many families in search of a new home tend to move before the start of the school year. This means there is much less competition for houses come fall, and the smaller buyer pool puts you in a great position to negotiate.
Sellers are eager to sell
People usually sell in fall because the timing is right for them, or because they listed their property at too high a price earlier in the year. Both kinds of sellers are serious about selling and motivated to sell before the holidays, and are therefore open to negotiating and accepting lower offers.
You’ll be centre of attention
After the wild rush of summer, September through to February is the slowest time of year for real-estate agents. With fewer clients, your agent, mortgage broker, and everyone else in your house hunting team will be eager to keep your business in the slow season. With more time on their hands, they will be able to respond quickly to your queries, and they can go the extra mile to help you find your dream home.
You can see how the house really fares
Every house looks amazing in the sunshine. The rainy days and cloudy mornings that arrive in fall tend to reveal the flaws of a home. By visiting and exploring properties on a gloomy day, you will get a much clearer picture of how a house fares under cold and wet conditions.
If you do need to make any upgrades or changes, fall is the perfect time to score the best home improvement bargains. According to Consumer Reports, December is the cheapest time to buy major appliances, like fridges, washers and TVs, and September is the best time to buy paint and carpeting.
You will have more time to think
In spring or summer, often buyers get caught up in bidding wars and have to think fast. The slower, more relaxed pace of the fall real estate market means you’re unlikely to find yourself competing for a home. With more time on your hands, you can explore different properties and be certain you are making the right decision. If you are interested in buying a property, local real estate professional Lance Lundy would be happy to assist and advise you to make your buying process as smooth as possible. You can get in contact here.