Here’s Why You Should Buy a House During the Fall Season
Traditionally, Spring is the time of year when people opt to buy a new house. Recently, some home sellers found this to be a huge opportunity to also practice leveraging during the Fall. Various factors effect the housing market find out why they think that the Autumn is the perfect time of year to find the dream home for you and your family. Here are the top 5 reasons why you should consider buying a house in October.
1. Fewer home hunters mean better offers
Families who wanted to buy new houses are at the beginning of the school year become less interested to continue their search when the kids are back to school. This means that home sales begin to slow down and the bidding wars become less intense. Therefore, this season is great news for house hunters because more opportunities become available to home finders as they get better offers. You will start to see price drops and more inventory on the housing market.
2. Agent’s attention is all yours
Home hunters in the Spring or Summer seasons are more likely to be listed for a long period of time. Once the fall season hits in, your agent will be able to dedicate more time and attention to meeting your needs as a buyer. This usually happens to the agents’ houses that are currently on the market during the Fall where it requires a faster phase-in selling them.
3. Win-win holidays’ perks
Agents are more inclined to close their deals before the holidays. In order for them to move on with planning their own events, they will need to close home deals fast. If there’s still a house sitting on the market by November, the seller is likely on the fence about listing a home for sale and meeting home hunters who use the pre-holiday window to their advantage. You can propose help to the sellers to vacate quickly if they cut you a deal. That way, the seller won’t have to worry about losing out on money with the house on the market and the buyers can enjoy the holidays in their new home.
4. Perceived economical market value
For house hunters, the best month to hook a deal is October. This is not just an ordinary assumption. In the recent poll of RealtyTrac, this month hit more than 32 million sales over 15 years. This includes clients who have taken the best deals when they are used to average at 2.6% below the estimated market value for their houses.
5. The season exposes the real exterior issues
The fall season marks the transition from summer to winter. This is the best period to inspect houses that you consider buying. Any major house issues are more likely to be exposed during this window because of the weather will reveal the true colors of the home, landscaping problems, possible water leaks/damage, and other exterior flaws.
All of these factors are worth considering in the homebuying process. Anytime is a good time to purchase a home because they are great investments. In the long run, it will build equity and create income potential. The most important part about buying a home is finding the right agent. With the right agent, any season is a good time to purchase a home.