Original Content Written By: JENNIFER MCGUIRE

AUG 21, 2023

While spring and summer are traditionally considered prime real estate seasons, the advantages of selling a home in the fall are often underestimated. Here are five compelling reasons why the fall might be the best time to list your property and make a big change.

1) Reduced Market Competition

The fall season typically experiences less competition. With fewer properties vying for attention, your house could stand out more prominently, attracting serious buyers actively looking to make a purchase. This reduced competition can lead to a quicker sales process and even multiple offers. Active buyers in the fall can also be more motivated – their sense of urgency could work to your advantage.

2) Accelerated Transactions

You’ll find a unique advantage in expediting your closing process. Mortgage lenders, attorneys, home inspectors, and appraisers might have a reduced workload and can focus on ensuring your transaction glides along seamlessly. These factors often mean a swift and efficient closure that helps alleviate stress.

3) Favorable Timing

Aside from striking a balance between summer’s energetic buzz and winter’s slower pace, this period also offers a sweet spot for buyers who want to settle into their new homes before the holiday festivities kick in.

4) Optimized for Comfort

In the cooler months, you can lean into your home’s cozy and inviting aspects in a way that might not work as well in summer. In addition to all-season staging tips, fall is a great time to make a fireplace the focal point of a room and style your interior to emphasize warmth and coziness.

5) Enhanced Curb Appeal

After the heat of summer, cooler weather can also provide a vibrant backdrop for showcasing your home’s curb appeal. Along with thoughtful staging inside, optimize the exterior for maximum interest. Seasonal landscaping and tasteful decor can further accentuate your home’s charm and help potential buyers envision themselves living there. It’s also beneficial to run through a fall maintenance checklist for any updates needed before your house hits the market.

In today’s competitive real estate market, you may wonder if renting a place or buying a home is better. Purchasing a residence can provide more privacy and future investment potential while renting allows for more flexibility and less maintenance. Both options have a myriad of pros and cons, but ultimately it will depend on your financial situation, lifestyle needs, and long-term goals. Here are a few factors to consider.

Costs and Maintenance

When you rent a home, you typically pay a flat monthly rental fee plus utilities and insurance; any repairs or maintenance are the landlord’s responsibility. However, when it comes time to renew your lease, you may find that your monthly rent goes up. When purchasing a home, your monthly mortgage payment remains constant, and there’s always the option of refinancing if interest rates drop. Of course, you will also be responsible for your own maintenance and repairs.

Building Wealth

When you own your own home, you build appreciation and equity as the value of your property increases over time. In recent years as property values have appreciated across the country, owning a home has proven to be a smart investment. When you rent, your monthly housing costs go straight to the landlord.

Customization

For renters, landlords often have specific rules about the property and limit things like growing gardens, outdoor decorations, painting interiors, changing the kitchen backsplash, etc. When you own, it’s yours to do whatever you wish. While your HOA may have some restrictions on exteriors, you are generally free to customize your property to suit your personal style. You can also add amenities and make upgrades like new appliances, light fixtures, flooring, and other features that can increase its value and your future financial prosperity.

Flexibility

Rental agreements often span a year or go from month to month, which allows you to make quicker adjustments for lifestyle changes or new job opportunities. However, when it’s time to renew your lease, there is no guarantee that the property will continue to be available. However, owning a home will give you the stability needed to build long-term success.

In many markets, owning a home is cheaper in the long run than renting, as rent prices have risen steeply across the country. Contact your local Coldwell Banker-affiliated agent to help you determine if purchasing a home is the right option.