For Home Buyers
The Summer vacation season has come to a close, children are back in school, schedules are more outlined and more concrete. If you are in the market for a new home or are just simply curious about the other options out there, Fall is a great time to start.Touring
In New England, Fall is the most beautiful time of the year. Trees start to change colors, people garnish their steps with mums, yards with pumpkins and gourds, and their doorway with wreaths full of decorative staples of the season. These small things can really speak to the full potential of the property. The calm, crisp weather also makes this time of year ideal – leaving for a more pleasurable tour or drive-by
Pricing
With the market being so competitive this year, looking for a break in the asking price could be just what is needed to close a good deal. According to houselogic.com, “Many home buyers consider falling the best time of year to buy a house because of price reductions. Because home sellers tend to list their homes in the spring, sellers whose houses haven’t sold yet may be motivated to find buyers, and prices start to reflect that”. Thus, Fall could be the best time to take advantage of lower pricing from the Spring and Summer seasons.
Move Planning
The home buying process can take anywhere from 4-6 months on average. To put this into scope for Fall home shopping, if you are interested in a home now, you will most likely not be moving in until the Spring. The Spring offers a great opportunity to be to move during breaks from work or school (such as spring break) and settle important logistics such as relocation, job searches, and school transitions before summertime.
For Home Sellers
It has been said that the Spring is the best time to put your house on the market – but there are some perks to waiting until the Fall so you can get the most out of the decrease in competition and the weather!Curb Appeal
In the Northeast, Fall is prime time for curb appeal. As mentioned, there are plenty of opportunities to capitalize on the way the weather impacts your home’s curb appeal. Beautiful colors in the trees (but make sure you rake the leaves), fall décor, children playing outside. And a break from the intense heat can allow for some additional landscaping and home improvement projects.
Less Competition
Right now, I am sure it might be tough to believe that there is less competition in the market but historically, homeowners have been advised to sell their homes in springtime, causing an influx of listings during that time. With more opportunities for listing exposure, now could be the best time to put your home on the market and get your home sold.
Possible Faster Closing
With the rush of the Spring and Summer market easing up, there could be more options and fewer delays in the home buying process. For example, Mortgage lenders might be seeing less action, appraisers and home inspectors potentially more available, etc., resulting in fewer wait times and more priority for your home buying situation.
