Why Fall is the Best Time to Buy a Home

17 Oct Why Fall is the Best Time to Buy a Home

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Buying a home is a serious undertaking that takes time, money and a lot of effort. More importantly, it takes a bit of creativity to do it right. For example, buying a home in the fall is one of the best ideas you could ever have. Here are some of the reasons why why fall is best time to buy home.

– Real Estate Prices Are Low

RealtyTrac did a survey on 32 million home purchases over a 15-year period. It revealed that buyers pay 2.6% less on homes in October than they do in other months of the year. In some cases, they pay as much as 10.8% less on homes in October than they do in the rest of the year. Buying a house in fall allows you to save a lot of money that you can use for other purposes such as renovations or home accessories.

– Sellers Are Willing To Compromise

The real estate market is subject to the law of demand and supply as is any other market. In other words, the sellers are unwilling to compromise when the demand for houses is high. The reverse happens when the demand for houses is low. Remember, many people buy and move into their new homes in spring and summer. That means the demand for houses is high during these two seasons, but it falls as soon as autumn starts. Real estate agents compromise easily as business slows down for them in autumn. This slowdown is an opportunity for you to get an excellent house at favorable terms.

– Get Your House Ready For the Holidays

The holiday season is a time for you to bond with your family, friends, and colleagues. Laughing and talking is what you should be doing instead of spending your time settling into a new home. Remember, new homes come with many new expenses. Should you deal with the two costs at the same time? No, you should not. Instead, pay for your house in autumn and settle in it by the time the holiday season starts.

– Bargains on Home Improvement Deals

As mentioned earlier, business in the real estate market slows down in the fall. This slowdown affects the entire industry. For example, home renovators find it difficult to get a job. That means you can hire them for a fraction of the price you would pay in spring or summer. The same kind of situation applies when it comes to landscapers, plumbers, electricians, and interior designers. Hiring them at such times saves you a lot of money so why not do it.

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