As potential homebuyers often learn, there’s a right and a wrong time to purchase a new home. In fact, many agree that fall is the right season for shopping. It reveals problems within a home and the weather is just decent enough to get you a good deal. If you’re looking to invest, here are five reasons to wait for fall:
- Lower Prices
Spring is the accepted time to put homes up for sale, and as many homeowners strive to do just that, they also price their homes too high. Of course, as higher priced homes rarely sell, these same homeowners start to lower their prices throughout the summer and fall months. By mid-fall, you can expect some serious price drops.
- Close At The End Of The Year
Many homeowners view their properties as an investment, and as the year draws to a close, everyone pushes to make a sale to close on or by December 31st. This allows homeowners to get a big tax break the following year.
- Less Competition
Most people relocating for work will want to do so before the new school year starts. By the end of September, you will start to see your competition die down. This ultimately translates to better deals for you as you don’t need to contend with others and worry about a bidding war.
- Holidays Are Motivational
Most sellers find that having their homes listed is a disruption to their daily lives. When the holidays are fast approaching, sellers just want to unload their burdens and focus on the things that matter to them i.e. parties and events. A seller is more likely to be flexible during this time and accept a lower offer just to get the home off the market.
- Harsh Weather Shows Off Flaws
How awful would it be to purchase a home that becomes an impending money pit? Nothing is worse than not knowing that there were undisclosed flaws within the property that you never even knew about. Fall months bring dreary weather that it will all help highlight any potential problems a property may have.
If it’s time to purchase a new home, fall is the season for it! You get better deals as motivated sellers clamber to unload their burdens. Take the time to enjoy shopping the market with little competition and a better potential for investment as homes better display their inherent flaws.