The Top Two Reasons Why Waiting to Buy your Home in Fall is a Smart DecisionPosted by Ansley Atlanta 08/26/2019
Traditionally, spring is considered peak season in the real estate market when people are eager to get outside, and properties usually look their best. On the flip side, however, there are a number of good reasons for homebuyers to hold off and start their search in the fall, here are our top two:
1. Sellers are Motivated
If they weren’t, they’d probably hold off until the next spring, since April is typically the best month to sell a home. Also, homeowners who did list during the spring selling season and haven’t sold yet, are usually ready to make a deal.
These motivated sellers often want to get things settled before the end of the year, completing their own move before the holidays. Living “in limbo” for several months can be exhausting and provides another motivating factor.
The longer a house has been on the market, the more likely a seller is willing to negotiate on everything from price, to closing costs, to move-in dates.
2. Changes and Upgrades May be Cheaper
If you are purchasing a house that needs new carpet, paint, appliances or other upgrades, buying in the fall may save you money beyond the purchase price of the home. Many of these items are at their lowest prices in the fall. According to Consumer Reports, September is the best time to buy paint and carpeting and the best time to purchase major appliances is November and December.
With careful negotiation, you may be able to get price concessions from the seller on cosmetic issues like worn carpeting, faded wall paint, or outdated appliances that exceed the cost of the upgrades, saving money on the cost of the house and getting brand new paint, carpet and/or appliances at the same time!
Additionally, September is the best time to get deals on outdoor plants, shrubs, flowers, and trees. September and October are the best time to buy lawn mowers and tractors. The savings can really add up, leaving you with a bit more cash to cover other expenses.
To get your fall home search started, click here.