Millennials currently make up the largest segment of homebuyers. This boost is to both the real estate and retail sectors since new homeowners need to furnish and adore their homes with everything
Perks Of Buying A House In The Fall
Times are changing... The summer real estate market is as hot as the temperature, but postponing your purchase until the fall may not be a bad idea after all. For the very first time, October has become the most popular month to get married recently passing May and June. Does this mean fall may become the ideal season to buy a new home? Why not? It makes perfect sense.
Many people consider fall to be real estates off-season. Home buyers competition drops during the fall and people forget to realize there are still homes for sale. As a matter of fact, sometimes there is just as much inventory as there was during the spring and summer market. This is a perfect opportunity for buyers to take advantage of a less competitive market. Many sellers are extremely motivated to sell their home before the holidays. Putting buyers in a great position to negotiate.
Contrary to popular belief, not all homes listed in the fall are “leftovers” from prime time. Timing may just be right for them. Sellers that have their homes listed during the fall tend to be extremely serious. For example: They need to relocate for a certain job opportunity. Or, they were having a home built or renovated, and its finally finished. This means sellers could be more open minded when negotiating which in terms may lead to accepting an offer lower than planned.
Overconfident sellers may have listed their home higher than market value during the prime times of spring and summer. After months of having their home sit on the market, sellers are most likely ready to make a deal! The action on their property becomes a lot less due to the decrease in home buyers out there and sellers become more eager to sell - They are more prone to take a low offer rather than wait for spring to come around.
You're the center of attention
As you know by now, spring and summer are ideal months to purchase a home which in return means real estate agents are usually much busier then. This could sometimes mean you may not get the attention you want, not just from realtors but other service providers such as lenders, title companies and movers. Because summer is peak moving season people experience more delays. The probability of experiencing this decreases during the fall.
Reap the benefit of end-of-year sales
Once you purchase your home, there will probably be some improvements you'll want to make. You'll most likely need to buy appliances if they weren't part of the deal or need to be upgraded. It would be great to coordinate your home purchase with sales on appliances and items you'll need. Sources state that September is the best month for buying paint and carpet. Lawn mowers go on sale in October and cookware/appliances are known to be cheaper in November. (http://www.consumerreports.org/cro/money/best-time-to-buy-things/index.htm)