For many, fall is undeniably one of the most coveted seasons of the year. What's not to love? The leaves are beautiful, pumpkin spice abounds, football spirit is in high gear, it's cool but not cold, and we've got Thanksgiving to top it all off.
What many don't know is that fall is also one of the best times of the year to buy a home. Here's why:
- Less competition. Spring and summer are the prime months for buying and selling homes and competition can be fierce. In the Fall, however, there are fewer people in the market, typically resulting in fewer bidding wars and the pressure to sign a contract so quickly. Because the market is quieter, sellers will take your offer seriously.
- Sellers are serious. If a home is for sale in the fall, it's usually because of a life event that triggered the sale, such as a job transfer. The power of negotiation is typically in your hands, whether it's price, timing or home updates as they're needing to move versus wanting to move.
- Sellers are worn-out. The sellers who listed their home in the spring or summer with aggressive price points or in a saturated market are just plain tired. They've likely lowered their price and, due to the slow movement of the market in the fall, they're willing to negotiate.
If you're in the market to buy, now may be the time as you'll have the upper hand in most cases. Plus, if you're a first-time homebuyer and you close before the end of the year, you can take advantage of tax breaks.
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