Many people choose to buy a new home in the springtime. New year, new start, new home. That’s a great choice, but there are great benefits to buying in the “slow” season too!
Here are 5 great reasons to buy a home in the Fall and Winter!
- There are fewer buyers out there – There are more homes on the market during Spring and Summer, but there are also many more buyers hoping to get into one of those homes. Tons of buyers competing with each other is great for sellers, but not so good for you as a buyer. During the winter months, there are fewer people competing for the homes on the market. This will put you in a much better negotiating position.
- More time to make a well thought out decision – Homes tend to linger on the market for a longer period of time during the winter months. In the spring and summer months, the average time homes are on the market can be very short, with many homes going under contract in 24 hours or less. In this situation, you have to hurry and put in offers as quickly as possible. In wintertime the average time on the market increases, which can give you some important time to stop and think.
- Prices rise in the springtime – Home prices are appreciating right now, they go up slower in the fall though. Many people have been priced out of the market by waiting for spring. If you are pre-approved it’s a good idea to go ahead and find something you love. Sooner rather than later.
- Sellers are more motivated – People like to wait until spring to put their house up for sale. They know they will have a better chance to get a full price, or even higher than full price offer due to bidding wars among desperate buyers. If they list in the Fall, it can mean they are experiencing circumstances that are forcing them to sell quickly. A seller who needs to sell ASAP will be a lot more willing to work with you on things like closing costs, contract dates and even the price of the home.
- Your Realtor has more time! Fall and Winter are known as the slow season in the real estate world. We have fewer clients vying for our attention, which means we have more time to give one on one attention to the clients we do have. This is generally true for lenders, inspectors and everyone else that is helping you with the buying process as well.
Michelle Sawyer has over 15 years of sales and marketing experience that have served her well in her real estate career. She loves working with Diana and Holbrook Realty, and is excited to offer her clients the benefits of the Preferred Client Program.