It is a known fact that people are more likely to buy a home as the weather gets warmer, but that doesn’t mean it’s a bad time to buy in the colder months. As the summer comes to an end, here are a few reasons why it might be better for you to buy a home this fall, rather than waiting for the spring to come around.
Fewer buyers
As previously stated, people are more likely to buy a home in early spring. Mid April and early May is prime time for real estate. By the time fall comes around all those people who were in the market have most likely found what they are looking for. There is also a segment of the market that can be eliminated, and that is families who want to be in a new home by the beginning of the school season. Overall, there are less people on the market.
Price reductions from homes that haven’t sold in spring or summer
With that being said, not every home that is listed in the spring is sold by the fall. Homes still for sale in the fall, that have been trying to sell for months, have probably resulted in price reductions along the way. In a combination with fewer potential buyers, sellers may be desperate enough to accept an offer below a home’s market value.
Motivated sellers around the holidays
As fall approaches, so do the holidays. Home sellers may not want to deal with the hassle of having a house for sale around the holidays. Having your house for sale means keeping it presentable for showings, which is very difficult to do when hosting parties or family coming in from out of town. Also, too much seasonal décor can be a turnoff to buyers. One of the best parts of holidays is being able to decorate your home appropriately. This could be motivation for sellers who like to indulge in holiday spirit.
Homes show their true colors in the Fall/Winter
When shopping for a home in the spring, it’s at its best. It looks more appealing because of all the beautiful landscape, but that is not the case in the fall when all the leaves are shedding from the trees and it’s raining or snowing. These conditions exposes a home for all its flaws, thus making it the best time for a property inspection. This is an advantage for homebuyers because it’s better to know everything about the property before making an offer.
If you’re looking to buy a home in the next few months, it might actually be a better time than you think! Be sure to reach out to one of our agents if you are looking, we’re happy to help.
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