You've probably heard spring is the best time to buy a new home. It's often the busiest, and that's why you can get a better deal in a later season. And if you apply for a Lafayette Federal mortgage loan by December 31st, you'll get two great bonuses! Here are other reasons to buy a home in the fall or winter.
- Less competition. With all the other buyers waiting until the spring, you won't have to worry as much about being out-bid. Low demand makes fall and winter a buyer's market.
- Select inventory. Often there are fewer houses on the market at this time, but this can work in your favor. Looking at countless homes can be overwhelming. Seeing fewer properties can ultimately make your decision easier.
- Lower prices. When there aren't as many buyers, supply exceeds demand. Sellers will be more motivated, and will likely drop their prices.
- More attention from your realtor and lender. Since fall and winter aren't typically the busy seasons, you can expect your realtor and lender to be more hands-on, and work harder to get a better deal for you.
- Great deal thanks to holiday cheer. If the typical lower demand doesn't work in your favor, the holiday spirit will. People are likely to give a deal to someone they like, and are more generous during the holidays. And if you're in your new home before the end of the year, you can decorate it!
Happy Holidays & House Hunting!
This article is sponsored by Lafayette Federal Credit Union. Contact them about their holiday offer!