Everyone thinks Spring is the best time to buy or sell a house. I’m not quite sure why that is. I mean, I get why more homes are bought and sold in Spring and Summer than any other times of the year.
Homes are prettiest in Spring when grass and leaves turn green and fresh flowers are in bloom. Summer house sales are convenient for families who want to move while the kids are out of school.
But for the savvy home shopper, Fall just might be the most wonderful time of the year.
Here are five great reasons to purchase a home during the Autumn months.
1. There’s less competition. There are fewer people purchasing homes this time of year, so it stands to reason that there is less competition among buyers. That equates to fewer opportunities to get into a multiple offer situation and a better chance of your bid being selected by the sellers.
2. You can be more selective. With less competition, buyers can afford to be more choosy. Though inventory still isn’t high enough to support buyer demand, there is typically a higher homes-per-buyer ratio in the Fall and Winter months than you’ll find during Spring or Summer. That means you may actually have more potential homes to choose from this time of the year than any other. Not only are there still homes on the market that didn’t sell during the busy seasons, but new listings are coming on the market every day.
3. You get to see what the yard work is really like. This is especially true if you’re moving into a neighborhood with lots of trees. Oh, those trees look beautiful in March and April when they get their leaves and in October when they turn colors. But once leaves change colors, the next thing they do is fall to the ground. If you’re not a fan of yard work, it may be better to know what you’re getting into now! Then again, you could always just hire someone to do your lawn care.
4. It’s easier to negotiate. As a buyer in a seller’s market, you can often feel like you are at a disadvantage. But this time of year, offers to purchase come fewer and farther between. This isn’t the time to give a ridiculous low-ball offer that will only serve to tick off the seller and ruin any chance you have of getting the house. However, it is a great time to negotiate and get the best value for your purchase.
5. You know your seller is motivated. Let’s face it. Nobody really wants to move this time of year, especially with holidays right around the corner. But even more so, nobody wants to show their house to potential buyers during the holiday season. If a house is on the market right now, you can be assured that they are a motivated seller and they aren’t just testing the market. They can do that during the Spring!
As I always say, the best time to buy or sell a home is when the time is right for you. Life events such as marriage, divorce, birth, death, relocation, retirement, lifestyle change and empty nesting often precipitate the need or desire to move.
But if you’re already thinking about it, why wait until Spring to move when you can be a savvy Fall home buyer?