5 Best Things About Buying A Home In The Fall
For years spring season has been considered as the right time to buy a house. The gentle spring breeze has something magical about it that as soon as it blows ‘For Sale’ signs start mushrooming on the front yards all over the country. The buyers, sellers and real estate agents wake up from hibernation; phones start buzzing and the streets are swarmed with potential buyers. Most people tend to do house shopping in spring/summer to get settled before the schools start. Yes, it’s true that during the spring season there are plenty of options to choose from but you should also keep in mind the competition is fierce which can lead to bad decision making on your part. Over the couple of years people have observed that it may prove to be fruitful to wait till fall to make the move. Here is a list of top 5 reasons why you should consider buying a home in the fall:
1) Less Competition
The fall is considered the ‘off-season’ in the real estate industry which means that the competition will dramatically drop. It does not necessarily mean that the inventory will be low as well. In some cases, when buying a home in the fall, you may still have as many options as there were in spring. There may even be new listings along with the houses that could not be sold at a prime price in the previous season. As the competition will be low, you will be able to make an offer on the lower side and after some vigorous negotiation, the chances are you will get the house.
2) Sellers are exhausted
By fall, sellers who had put up their houses for sale in spring will be exhausted. Some sellers may have bitten more than they can chew by listing prices buyers are unwilling to pay. They will want to get done with the deal before the holiday season. They will substantially reduce the price and will be more accommodating towards the offer by the buyers. They will rather agree to a low offer than wait for next spring. As there will be fewer buyers, you will be at an advantage.
3) Not all houses are leftovers
All the houses that have a ‘For Sale’ sign posted on their front yard are not leftovers from the previous season. Like I said before, there are many new listings in the Fall. Most of the new house sellers are want make a deal as soon as possible. Some of them may want to sell their house because they have to move due to a number of reasons such as a new job. Some people want to just avoid dozens of people visiting their house in spring and instead put up the ‘For Sale’ sign in the off-season. These sellers are more willing to negotiate and accept an offer quicker than the other sellers. The key is to make keen observations all through the house scouting process.
4) You get the spotlight
As there are few buyers in Fall, chances are you will attracting the amount of attention you want. Spring buyers not get enough attention, they have to run after the real estate agents. In fall those same agents will run after you as the business is low. They will respond quickly and efficiently. The same goes for other entities, such as movers, HVAC contractors and pool maintenance service providers, working with you. In the hot moving season, spring, all the service providers are busy that can result in delay or loss of belongings for you. However, you will not face any such challenge in fall.
5) You can save money on home improvement
If you end up buying a home in the fall, you will probably save money not only on the deal but you can save hundreds of dollars on home improvement. Once you purchase the house, you will want to make some changes because everyone has a unique style when it comes to housekeeping. You may want to change the flooring, paint the walls in vibrant colors, fix the garage or get prepared for the hot summers by getting a pool installed in your backyard. Wouldn’t it be great if you move to your new place when the end-of-year sales are just kicking off? That way if you want to remodel the kitchen or buy that comfortable looking sofa from IKEA, you will not have wait.
If you want to add anything from your experience regarding house buying or selling in the Fall, please share it in the comments below.