5 Reasons to Buy a Home in the Offseason

Buying a home in the fall or winter can be a thrifty move for homebuyers because it’s cheaper, sellers are ready, there are fewer choices, the buyer becomes the star and they can get great furniture deals.

Although there may be more choices available from May through July, there is an upside to waiting until fall approaches.

Here are five smart reasons why buying a house during the fall and winter seasons can be a great move for a savvy homebuyer:

It’s cheaper  

There’s typically less competition during the offseason, which means buyers can get more bang for their buck. About 40 percent of homes on average are sold in May, June, July, and August. The four months with the lightest sales are November through February, which means less competition.

Sellers are serious

Whether a house has been on the market for months or the “for sale” sign has recently appeared in the yard, sellers tend to be serious during the offseason. They are usually ready to make a deal, which means that buyers have more room for negotiation and throwing out an offer with terms that appeal to the buyer.

It narrows the field of choices

You might initially think that this would be more of a disadvantage, but there really is such a thing as too many choices.

In fact, it’s often referred to as the paradox of choice, a phenomenon that occurs when there are too many options available, which causes people to freeze in the selection process or choose an option that leads to decreased satisfaction in the end.

Because there are typically fewer choices on the market during the offseason, buyers won’t have to worry about slipping into the paradox of choice and can come away with the home of their dreams.

Buyers become the center of attention

During the warmer months, real estate agents, mortgage lenders, title companies, and other professionals tend to be swamped, which means that clients might not always get the attention they need or want.

Once the summertime sales are made, buyers may receive more attention from the experts and experience fewer delays and service issues.

Buyers can catch some great sales to outfit their home

If buyers are in need of appliances or other items to help maintain or furnish their new home, then they’re sure to find some good deals during this time of the year.

According to Consumer Reports, it all depends on the month. In September, for example, carpets and paint are usually on sale. October is a great time to purchase a lawn mower, and November tends to be the month for selecting new appliances and cookware.