Thinking of buying a home? Why fall and winter can be the best times to buy!
During a hot market it might be in your best interest to let the outside temperatures cool down before making your home purchase. Here are three very good reasons why fall and winter are the best seasons for buyers:
1) There will be less competition (this one’s a biggie). This will allow you the opportunity to shop and be more selective about the best home for your needs and not be rushed to make a rash decision. There are typically more buyers seriously looking in the spring and summer months, so when a hot property hits the market—you guessed it—more competition. Although this is typically the case in the off-season it isn’t always a guarantee. For example, if your current market is hot, then a ranch home, in a sweet price point, will still fly off the shelf! Ultimately, this is driven by good ole’ supply and demand, but your odds are still better in having a little more time to be selective.
2) Potentially save or get more for your money. As properties sit on the market longer, sellers usually become more motivated to make a deal and might even be willing to throw in some extras. For instance, you might be able to negotiate in additional appliances or furnishings at the agreed upon purchase price. This could be a great value, especially for first-time home buyers.
3) You may close quicker and with ease. Since the fall and winter are the slower buying seasons this means that your lender will potentially be able to get your loan processed a little quicker than usual and with less last-minute snags! Oh yeah, you will probably be able to schedule your movers much easier too!