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Homebuying & Selling
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2 min read
Will you be shopping for a home during the fall and winter? You may have heard that the market slows down after summer, and that can be discouraging. Don’t fret! There are some great perks that come with being a homebuyer during the off-season. Read on to find out just how advantageous homebuying during the off-season can be.
Less competition
If you’ve ever shopped for a home during the summer months, you know how intense the market can be. The frustration of losing out to another offer, or not even having the chance to make an offer before a house is off the market, is a common experience during the peak months. While the inventory may be lower, your opportunity to make an offer and have the seller truly consider it may be much higher. Your homebuying experience might just be much more pleasant without the stiff competition!
Faster mortgage process
As a result of having fewer buyers in the market for a home, the workload typically lowers for mortgage companies. With fewer borrowers to service, the mortgage process could be a much faster process!
More attention from real estate agents
Similarly, with less clients to juggle, you may get better service from your real estate agent. This can be especially helpful as a buyer so that you receive more personal attention to view listings that meet your criteria on your schedule.
Availability of inspectors, appraisers, and contractors
Another step that may go by much faster in the off-season is the handling of inspectors, appraisers, and even contractors. The season is slow for just about everyone connected to the real estate business, so getting inspectors and appraisers scheduled could be much easier than in the busy summer months. Plus, once you’re ready for a contractor to conduct any work, their workload may also be lighter, leading to more availability and faster turnaround times.
Negotiation power
In the slow season, sellers are typically highly motivated to sell. They may have listed their home during this time needing to sell quickly, or the home has been sitting on the market for a while. In either scenario, the buyer tends to have the upper hand and can negotiate to their advantage.
Lackluster exteriors
In the winter, a home’s exterior probably won’t look lush and healthy. The curb appeal on many homes just can’t compare to the spring and summer months when the grass is green and flowers are in bloom. But, this is actually a good thing for a buyer! Without the distraction of a beautiful yard, you can better judge the home based on how it fits your needs rather than a first impression based on a pretty façade.
Don’t be disheartened about shopping for a home during the off-season. These are just a few of the perks that come with house hunting in a market that has slowed down. With the right mindset and professionals guiding you along the way, the off-season could be a great time to buy!
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