Why Fall Can Be a Great Time to Purchase a Home
Wondering when the best time of year to buy a home is?
Fall may be the perfect season to make your dream of becoming a home owner a reality. Location is, of course, a factor when choosing a home but the time of year can also have a big impact on what you pay.
Why is fall such a great time to purchase a home?
Sellers Are Motivated
One of the top reasons fall is the time to sign on all the dotted lines is because sellers are serious to cut a deal. They ‘re on the shoulder of home-buying season. Sellers don’t want their homes to be on the market over the holiday season. Properties that have been on the market since the summer will have motivated sellers. This ultimately results in buyers getting the advantage when it comes time to negotiate a deal.
Not to mention less competition from other house hunters. Families avoid buying in the fall with school and activities starting up for the year. Fewer buyers in the marketplace means more flexibility and leverage for serious buyers during negotiations.
Cooler Weather Can Help Expose Issues
You don’t notice draftiness and potential problems with a home’s insulation, heating and drainage system in the summer or spring. Little things like how homeowners deal with leaf debris during the fall can help you figure out if repair and home care have been kept up.
Low Inventory Means Less Indecision
Buyers who choose to search for a home are just as serious as the owners trying to sell their homes during this season. Since the supply of listings drops in the fall, it’s easier to narrow down your top list of properties. Less window shopping means more intentional action during the home search.
Less Competition From Other Home Buyers
It’s stated again because it’s a good reason to consider looking for homes in the fall – with a small minority of buyers looking to purchase at this time year, it means you have more time to look at the home itself and properly negotiate a deal with terms and pricing that falls in line with your needs. You also don’t have to worry about being caught in any heart breaking multiple-offer situations.
It’s no myth that fall is quite possibly the best season for eager homebuyers. Seasonal fluctuations dictate real estate market activity, and the unique characteristics mentioned above are prime examples of why fall is an opportune time to purchase a property.
Contact mortgages.ca to learn more about how we can help save you thousands. Fall is a great time to purchase a home.
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