Read the 6 Reasons to Buy an Ottawa Home in the Fall to see why fall may be the best house hunting season.

In Ottawa the spring real estate market rules. There are however, very good reasons to search and buy homes in the fall.

 

1. There’s less competition

Competition for houses drops off in the fall, a time many people consider to be off-season in real estate. Families prefer to move in their new home before school starts. So they will be out of the competition for September and October and November. But there are still homes for sale — and in some cases, there’s just as much inventory as there was during the spring and summer. There is always a great number of new listings that come onto the market in September.

Less buyers and more listings put you in a great position. This is the season to go for low offers especially on homes that have been on the market over the summer. Many sellers want to move before the Thanksgiving and Christmas holidays and will be motivated to sell.

 

2. Sellers are worn-out

Some sellers who put their homes on the market during the prime selling times of spring and early summer might have been a tad overconfident by listing their homes for more than buyers were willing to spend. After months of no action, these sellers are often ready to make a deal. Sellers who mispriced their properties earlier in the year will have to make a decision to reduce in the fall. Or they will have to wait for the next spring season 6-7 months away.

 

3. Sellers are serious

Not all homes on the market in fall are summer leftovers. Some people need to sell in the fall because the timing is right. Maybe they were having a home built, and it’s now ready. Maybe they need to move because of a job. Sellers in the fall tend to list because they have to move by a certain date. That makes your position very strong.

 

4. Quick closing

Since many fall sellers must move fairly quickly before the holidays quick closing dates are easier to negotiate than in the early spring. In the spring many sellers take their time to find a property or even prefer to spend most of the spring and summer in their homes before moving just before school starts. If you are ready to move anytime it can give you a great negotiating advantage.

 

5. You’re the center of attention

Because spring and summer are ideal times to buy a home, real estate agents are usually busier then. And that could mean you might not always get the attention you want. This is also true for other professionals and institutions such as banks and lenders who do most of their approvals in the spring and early summer.

 

6. You can take advantage of end-of-year sales to outfit your home

There are bound to be improvements you’ll want to make after buying a house. You’ll also probably need to buy items to maintain your home, and if appliances weren’t part of the deal, you’ll need those too. Wouldn’t it be great to coordinate your home purchase with sales on items you’ll need? According to Consumer Reports, the calendar determines when it’s a good time to buy all sorts of consumer goods. In particular, September is a great time for buying carpet and paint. October means lawn mowers go on sale, and appliances and cookware are cheaper in November.

Are you thinking to buy in the fall? Do you need a quick mortgage pre-approval or want a second opinion on the best rates? Call Kelly Wilson at  613-266-3570 or email to kelly@wilsonteam.ca.