It is never a bad idea to think about seasonality when you are looking to buy your home. During spring and summer, real-estate shopping is known to be at an all-time high. Since children are out of school, parents are on holidays, and curb appeal is at its best, the warmer months seem to invite periods of high activity in the market.
Yet, when the weather shifts, it is common for the supply and demand of properties to shift as well. Even though the market varies from location to location, it is universally thought that fall and winter bring a slower pace within the market.
However, the fall season could be the perfect time for you to start your search. Purchasing a home in a market that is less competitive can be a real advantage as it can also help you avoid bidding wars, and gives you the opportunity to negotiate conditions such as a home inspection.
If you hope to find your new #HomeToStay and close a deal by the end of the year, here are a few reasons why fall is an excellent time for you to buy.
You Have Lots Of Variety & Less Competition
Although the inventory peaks in the spring and summer, it doesn’t mean every listed property gets sold. In fact, properties can still be found lingering on the market, offering you a chance to shop around. As an added advantage, shopping for a home in the fall when the market is slower seems to release the tension of competing against other buyers. Fewer buyers equal fewer rivals!
The Colder Weather Can Show A Home’s True Colours
While curb appeal delights in the spring and summer, it may be difficult to catch some of the homes flaws. Buying in the fall, gives you the opportunity to see how the home does in cooler weather, and see any signs that there may be poor insulation.
More Negotiation & More Flexible Moving Dates
Since the fall time seems to create less competition, it also can mean that buyers have the ability to negotiate terms more to their liking. For sellers, it may be easier to reach a compromise when there aren’t multiple offers placed on the table. The slower season can also be ideal for hiring inspectors or contractors, making the entire moving process much more manageable.
Off-Season for Cottages
If you’re looking for a recreational property on the lake, you may have an easier time finding one as sellers don’t want to deal with the maintenance of preparing the property for the cold winter months. In addition, you can see what the property is like as the seasons turn!
When navigating the market seasonality, especially as a first-time home buyer or someone looking to downsize, it is best to talk with your real estate agent, who can help you monitor the patterns and get a sale price right in your budget.
Reach out to the Peggy Hill Team today to begin finding your #HomeToStay!
