The Best Time To Buy A House In Maryland
Updated: Aug 30, 2019
It may be counterintuitive, but fall is a great time to buy a home. Everyone knows that the real estate market is the most active in the spring, but there are a number of reasons why buying in the fall might be a smart move.
Enjoy Less Competition. Many buyers are house hunting in the spring because there are plenty of homes on the market and they want to move in before the school year starts. If you don’t have this restriction, you will find that you have far less competition, which means you are less likely to lose out on a home you really love.
Encounter Motivated Sellers. Sellers who list this time of year are motivated. With the holidays approaching and a dread of the winter market, many sellers need to move and this makes it much easier to get the house under contract.
Take Your Time. One of the major drawbacks of the spring market is the time sensitivity. It is common for buyers to be outbid on multiple homes before actually going under contract, which is frustrating, if not heartbreaking, for many buyers. The number of buyers on the market for a home in the spring makes the transaction incredibly time sensitive. If you see something you like, you have to move quickly to make an offer. As I mentioned, there is less competition in the fall, which means you can slow down a bit and make good decisions.
Be The Center Of Attention. It’s not just agents who are incredibly busy in the spring months. Title companies, lenders, real estate appraisers, and home inspectors can be difficult to coordinate with due to the influx of contracts. If you start your home search in the fall, you can feel confident that won’t struggle to get your agent on the phone.
Take Advantage Of Sales. With the holidays right around the corner, some of the best deals on home goods can be found in the fall. Take advantage of these sales to furnish your new home. Contractors are also far less busy so any repairs or updates will be much easier to schedule and potentially much less expensive.
Get A Clearer View. The summer months are a bit odd with many residents out of town. Some neighborhoods are very quiet in the summer and it can be difficult to get a good feel for the neighborhood. The fall often gives a clearer picture of the neighborhood’s level of traffic and activity. Not to mention, exterior flaws won’t be so easily hidden by foliage.