WHY FALL MAY BE THE BEST SEASON TO BUY YOUR HOME
The best time to buy or sell a home seems to have always been considered the Spring and Summer.
But! Fall is not only a great time to buy or sell a house, it might also be the best season to find the perfect property (and not just because you can browse the listings while enjoying a pumpkin spiced latte).
Here are some great reasons to consider expanding your home search into the Fall
The best time to find a deal – Motivated Sellers
The best month to get yourself a deal when buying a home? October. This isn’t a random guess, according to RealtyTrac’s analysis of more than 32 million home sales over 15 years. (US) The resulting data showed that on average, October buyers paid 2.6% below estimated market value at the time for their homes. (Source – Realty Trac)
Sellers may have also had their home on the market longer than anticipated especially with the product available in the Spring and Summer months. This will increase their motivation to sell prior to the winter months.
Like the beaches in Canada after Labor Day, the real estate market clears out as the days turn cool and everyone is in back to school mode. Most summer buyers have already found a home, meaning a fall buyer will have far less competition for the available houses on the market.
Many sellers will remove their home from the market until the new year allowing Buyers greater room to browse and attend Open Houses.
Once you have possession on your new home you found in the fall, you may want to upgrade your appliances. December is the best time to upgrade your appliances according to Consumer Reports. It’s also the best time of year to buy cookware and TVs.
So once you’re settled, get ready to renovate! (Check out our earlier BLOG post all about renovations and how to add value to your home)
The holidays are around the corner.
Not only are most home sellers worn out after the summer selling season, they’re also caught between a real estate rock and a hard place in that the holidays are around the corner. If they want to move and settle down in time to host Thanksgiving and Christmas, they’ll have to close quickly. So use this pre-holiday window to your advantage.