Why Fall Might Be the Best Time to Buy a Home
True, most people will tell you spring, or early summer is a much better time to purchase a property, given the excellent weather and the opportunity the buyer has to fully examine the edifice, and a significant number of houses are listed for sale during those months.
Still, several real estate experts would disagree. Fall is an equally favourable time for such a move, and below you will learn why.
First of all, let us consider two major issues with the Spring property sale.
Far too many predators in the water…While the spring sale season in the property market offers an array of choices in houses, apartments and other types of properties, the same applies to the number of potential buyers. With so many fierce predators in the real estate ocean, locating, properly checking and finally acquiring the best possible ‘prey’ is a lot trickier.
Spring Sale ‘Bargains’ are often overpriced
Having so many would-be buyers around hardly helps when it comes to prices. On the contrary, it inflates them, making overpriced properties a constant danger for buyers and investor. That is why so many of them listed back in the Spring are not sold and are often on offer in the Fall at far lower and more reasonable prices.
What about the Fall property sale?
Several listings available at great prices
Fall has its share of listings. In fact, some of our greatest properties have been made available for the first time during the Fall. In addition to that, the significantly smaller number of potential buyers drops the prices, along with the owner’s disappointment for not having sold the property during the spring or summer sale – especially if he or she is pressed for cash.
Practically, this means that during the Fall you will have much less competition – since buyers, for no obvious reason whatsoever, stop sniffing around the real estate market.
Second, sellers are much more motivated and well-disposed to drop the price – how much depends on several factors, but whatever the gain, it is great for you.
Plenty of time to think it over and check the house properly
Less competition during the Fall gives you the time to think of your options with a coil head before making your move and allows you to consider all possible aspects of the bargain, as well as alternatives. More time means more fruitful negotiations with the owner too.
In the meantime, you will have the chance to see and inspect the property over and over again, at different times of the day, and weigh its pros and cons against the amount of money you are asked to pay for it.
Yes, Fall is a great time to locate and purchase your new house, especially in a place like Cyprus, where high temperatures and sunshine make September and October seem like a summer sequel. In fact, we have several great options waiting for you – just contact us and find your new home now!