According to research from Realtor.com, the last week of September is the best time (nationally) to buy a house. But it’s a different market from the spring, so here’s what you need to know if you are buying – or selling – in the fall.
For Buyers
Get an Agent.
In an ever-changing market it is crucial to work with a buyer's agent who can guide you through the process and represent your interests when negotiating an offer on a home. Barrett Sotheby’s International Realty agents are all experts in the areas they live in and service and will be there to assist you on every step of your buying journey – from finding suitable homes to view to knowing the location of your nearest all-night pharmacy. Read our blog to find out how a buyer’s agent can help you secure your dream home.
Know Your Numbers.
Whether you are casually browsing the market or ready to move immediately, it makes sense to secure your mortgage pre-approval now. Interest rates are starting to come down, so it is important to know the difference (for example) a 0.25% decrease in rate would make to your monthly repayments, and whether that increases your buying power. You’ll be better placed to make a decision on a home when you fully understand the finances.
Be Decisive.
With fewer buyers in the market than in the spring you may have more time to make a decision on a home – but don’t drag your feet! If you see something you like work as quickly as possible to put together an attractive offer – a well-priced home in a popular area is still a hot commodity so now is not the time to make low-ball offers.
Sellers
Listen to Your Agent.
As the market changes with the seasons, it’s important to listen to the advice of your agent, in particular when it comes to pricing. Your agent will walk you through the comps and discuss the best way to market your home to ensure you attract the most potential buyers. And don’t panic if your home doesn’t sell in the first weekend. Homes may take a little longer to go under offer than they did in the spring, but they are still typically moving quicker than in previous years - and for more money.
Present Your Best Self.
With more homes on the market, you’ll want to make sure yours is looking it’s best to appeal to the most potential buyers, and at this time of year it pays to give some extra attention to your landscaping. Arrange for a tidy up prior to having photos taken and be prepared to keep up with leaf clearance if your home is on the market when the trees start to drop to maintain curb appeal.
Know Your Priorities.
Consider all offers carefully and think about your priorities – is the goal to realize the most money from your investment, or would a timely transaction that gets you moving before the winter weather kicks in be worth more to you? Knowing what is most important to you makes it easier to assess any offers with a clear head.
Before you make any decisions about moving, have a chat with one of our experienced agents. They have their fingers firmly on the pulse of the market in your particular town and can advise on whether now is the right time for you to make a move. Get in touch today!