Looking for a home is a lot of work especially if you’re on the hunt during the busy summer selling season, but if you want to do less work, get some better deals, and find a home for a discount then fall is the best time to buy. Most sellers look to the hot sales months of May through August as the time to offload homes, and while most homes will sell during this time, savvy buyers will capitalize on the slower fall sales season.
You don’t have to look far to find great prices on homes if you wait for the right opportunity, so here are our reasons why Fall is the best time to buy.
Fewer Buyers
Traditionally, home buyers and sellers know darn well that the best time to buy or sell homes is the summertime. In general, there are more homes for sale, sales go through faster, and buyers can have the flexibility to make quick moves into new homes.
All of the summertime chaos, though, can be very stressful and timing is of the essence if you’re a buyer which is a great reason to buy in the Fall. Fewer buyers are looking for homes in the Fall which means that you’ll have more inventory at your disposal and you won’t be pressured to pull the trigger if you’re not ready.
Better Prices
Summer sales mean more demand and buyers willing to pay greater premiums. With that, there is a little less latitude for you as the buyer to negotiate lower prices or start with lower listing prices to begin with.
All that to say, with fewer buyers in the marketplace, sellers are willing to make a deal in order to sell their home outside of the traditional selling season. Along with that, with foliage and homes beginning to look a little drabber, there is less curb appeal to an otherwise vibrant summer home which can give you even more leverage to negotiate a lower price.
Greater Inventories
It’s not uncommon for homes listed in the Fall and Winter months to sit for sale for far longer than during the Summer which means, as we’ve alluded to, a greater selection for you to choose from. Basically, with fewer buyers, there are more homes on the market for longer giving you a better shopping experience.
If you have a real estate agent who is well-connected in the market you’re shopping, then it should be a great advantage to you to enlist their help to find the homes available. With more options, you’re more likely to find a home you love rather than a home that you’re less-than-crazy about.
Don’t Miss a Deal
There’s no doubt that there are some great deals to be had by shopping in the home sales offseason, but you could miss out on those great prices if your financing isn’t in order before you start the home search.
Get in touch with Tidewater Mortgage Services, Inc. today to get started on your homebuying journey. Our loan experts can help you find the right mortgage solutions for you and your family, and our online application is easy and can see you pre-qualified in as little as 24 hours.
