The spring and summer months remain the most favored times to buy a home, but the fall season is steadily becoming more and more popular. Even though a lot of homes will be sold already, here are some reasons why holding out until fall to buy a home could benefit you.
There’s Less Competition
The majority of buyers still favor the spring and summer, meaning that the competition dies off in the fall. This leaves ample opportunity for you to set your position as a power buyer and negotiate with sellers more aggressively. Without an abundance of competition, sellers will be more likely to cater to your negotiations rather than wait another year and hope they sell next spring.
Sellers Are Tired…
A lot of sellers who list their homes during the peak season are ambitious, pricing their homes high in hopes of capturing desperate buyers. By the time we reach the fall season, those same sellers are now willing to reduce the price in order to appease the remaining buyers and sell their homes. With little to no action for months on end, sellers are more willing to take a low offer than wait until the next spring.
Not all homes that are on the market in the fall are leftovers. A lot of serious sellers list their homes in the fall because they need to sell and settle quickly. Whether they are relocating for a job, or to be closer to family for the holidays, many new fall listings come from sellers with goals and a short timeframe. This provides buyers with more negotiation power. Since sellers have a timeframe in mind, they are more willing to negotiate and compromise in order to meet their deadlines.
Fix It Up For Less
Most likely, there will be something in your new home that you want to change. Buying in the fall means that you can get a jumpstart on some projects for less! Want to repaint that room or change the flooring? September is a great time for discounted paint and carpet. With the winter quickly approaching, October means cheap lawn mowers and other yard essentials. As the year dwindles down, November marks price reductions for appliances and cookware. Take advantage of the time of year to coordinate your home purchase with a few essential upgrades that will save you time and money.