5 Reasons October & November Are A Great Time To Buy A Home

It’s Less Busy In The Autumn So Maybe The Best Time To Buy Your New Home

 

ID-100446631

 

The Spring & Summer Markets traditionally are the busiest times of the year but this isn’t always good for buyers. There are more listings but more buyers looking as well.

Here are 5 reasons the Fall could be the ideal time for you to buy a home.

  1. Lower home prices: a RealtyTrac’s analysis of more than 32 million home sales over 15 years showed that on average, October buyers paid 2.6% below estimated market value at the time for their homes. This made October the best month to buy a house.
  2. Less competition: like Wasaga Beach Area 1 after the Labour Day the crowds have gone. Most summer buyers have already found a home, meaning a fall buyer will have way less competition for the available houses on the market. Also buyers whoever found their home often stop searching and decide to resume in the new year.
  3. Sellers may be more flexible: especially in the current market if a listing has not sold over the summer a seller may be getting worried. In the current Sellers market this can move the advantage back to a buyer.
  4. Christmas is not far away: if a seller wants to move and be settled by the holiday season then they need to sell and close quickly. Again this gives the buyer some leverage in any negotiations.
  5. Your real estate “team” is less busy; there are only 24 hours in a day and in the busy summer months REALTORS, mortgage lenders etc will be dealing with a large number of clients. The autumn months are quieter and they have more time to work for “you.”

As an added BONUS any home improvements you wish to make may be less expensive. December is when major appliances—refrigerators, stoves, washers, and dryers—are at their very cheapest, according to Consumer Reports. It’s also the best time of year to buy cookware and TVs.

 

Image courtesy of blanscape at FreeDigitalPhotos.net