The warmer months of Spring and Summer are notoriously known for being the best time to purchase real estate. While statistically this may true, if you are a house hunter don’t turn your nose up at fall real estate just yet. You will be surprised at what opportunities fall real estate can present. Here are five insights into why you may want to wait until fall to buy your next home.
- There is far less competition.
Many people think that Autumn is the off-season for real estate. However, there is still plenty of homes available. In addition to new listings, listing that didn’t sell in the summer are re-listed and even adjusted. If you are a negotiator, fall is the season for you to buy. Fall homebuyers can easily give lowball offers and use their negotiation skills to get a great deal. A lot of sellers want to sell before the holidays start (Thanksgiving and Christmas), so use that claim to your advantage.
- Sellers are feeling defeated.
After having a house listed during the prime time of the year and yielding no results, sellers can feel a little desperate. With weeks and weeks of no interest, sellers will often jump on the chance to make a deal. Rather than waiting another six months to the prime selling time, sellers may be more willing to take a low-ball deal.
- Fall is one of the safest times of the year.
Like real estate, burglaries have prime seasons. Burglaries happen the most frequently during the warmer months in July and August. Waiting for the fall to buy a house allows you to learn about your home in a neighborhood. By the time the next burglary season rolls around, you can install a new alarm system.
- All attention is on you.
During the summer months, real estate resources can be spread thin. Real estate agents, mortgage lenders, and title companies are not as swamp during the fall, meaning that as a house hunter, you will receive a faster response and support. The same goes for movers. During the peak season, there are often more delays with renting companies, but as demand goes down so does the chance for delays.
- Fall homebuyers can take advantage of sales.
Chances are, your house won’t be perfect and you will want to take on a few DIY projects. You also might have to replace a few appliances. Taking on projects like these can add up, but fall home buyers have an advantage on their side. Buying a home later in the year allows you to have access to many sales. At the end of the summer, many home improvement stores will have a sale on their inventory.