Autumn is known to be the season of cooling-off right between the blazing hot summer and the cold winter. But you can also call it a “cooling-off” for the real estate market. Many people believe the spring to be the best time for buying a home. But in our research, we have found the fall is the best time to buy a home. Here are a few reasons why fall is the best season to purchase a home:
1. Less Competition
It is widely known that in fall, there is much less competition from other buyers. Since the spring and summer are the most popular periods for the purchase of properties, those who are looking to buy a new home face little competition from other buyers and can more easily buy their dream home.
2. More Attention from Real Estate Agents
During the spring, real state agents, lenders, and property insurance agents are extremely busy and may not be able to give your questions adequate time or attention. When the market cools down in the fall, they can better focus on you and have ample time to guide you and help you get the best deals in the market.
3. Motivated Sellers
In the fall, sellers are more anxious as their homes were not sold over the summer, chances are better that sellers will be more motivated to make a deal. With a good negotiation, you may be able to get a better price for your home than in the spring.
4. Best Weather to Move In
It’s not easy to move somewhere in the scorching heat of summer or in the ice or snow of winter. Fall is the best time to move because of the moderate temperatures. Moreover, there are also usually sales on laundry machines, air conditioners, and kitchen appliances in the autumn which may make it less expensive to equip and furnish your home.
5. Low Prices and a Tax Advantage in Fall
The same house you saw in the spring could be 5% to 10% less expensive in the fall. Moreover, at the end of the year, you can take advantage of tax breaks. Thus buying a house in fall, could save you a large amount of money.
Don’t put off your home search until next year. Fall is a great time to find your next home, and you may even save more.