Residents of Sacramento, CA, who are thinking of making the big leap to buy a home are always looking for ways to ensure that this investment is a sound one. One way to do this is to look at the timing of your purchase. Fall, for example, such as the month of October, is often cited as a good time to buy. But why?
In the same way that homeowners in Sacramento, CA have better prospects in spring, such as in the month of May, buyers enjoy certain advantages due to the timing closer to the end of the year. And here’s why:
Get A Better Sense Of The Exterior
When things cool down, and the leaves start falling off trees, you get a distinct advantage; you can now see a home’s exterior when it’s not at its best. This is especially important for getting a fair and accurate assessment of the exterior condition. Are all the singles in place? If not, how bad is it? What condition are the gutters in? Are they full of leaves, which means this will be an annual concern? Seeing a home when it’s not at its “Sunday best” is often important for getting a good assessment of just how much it’s really worth.
Bidding Wars Are Less Frequent
When a market is more active, that’s when things are more competitive. If you see a home that you love, but several other people see the same home and come to the same conclusion, a bidding war is pretty likely. However, most people are trying to buy homes in spring or summer to move in before September, so the kids can get settled in. If this isn’t a priority for you, there’s far less competition for home buying in the fall. In fact, it’s not so unusual to be the only one of a few—or even the only— person interested in a home. So you don’t have to worry about losing out because someone is willing to bid tens of thousands of dollars more than you to get that home.
Prices Will Be Lower
Another big plus is that because the market is cooler in the fall, sellers have to respect that and keep their prices in line. With lower chances of a bidding war, the pricing must be mindful of this. So in addition to expecting property values that are lower than at the peak seasons, you may even get the chance to negotiate on a lower price, especially if you discover something such as problem roof, or a leaky foundation.
Start Thinking About Financing
If you’re thinking about taking advantage of this time for buying a home in Sacramento, CA, you’ve also got to plan for your financing. Looking for a home is only part of the equation, but the more important consideration will be coming to the table with a deal you can actually pay for. That’s where we come in. Contact us and explain what your hopes are for buying a home, and we can find loan options to fit your unique situation.
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