Off-Season vs Peak-Season: When is Really the Best Time to Buy a North Georgia Home?

When it comes to buying a home, there is an off-season as well as a peak-season in the real estate market. And while peak-season is the time most people start looking for homes to buy, savvy home buyers may find much better deals during the off-season.

What Are the Off-Season and Peak-Season Dates for Home Buying?

The most popular time of the year to purchase a home is usually late spring to early September. But if you’re looking for a better deal on your new home, your real estate search should start during the off-season months which are October through March. Since the housing market has less shoppers during the non-traditional house buying months, that means the seller typically has less offers, making a wonderful opportunity for a home buyer looking for a deal. Here are some additional advantages of buying a home in the off-season vs peak-season.

Benefits of Buying a Home Now During the Off-Season

• Great Mortgage Interest Rates – Since mortgage rates are sure to change throughout the year, it’s smart to take advantage of the current interest rates since they are holding steady and even dropping a tad. It’s a great time to get pre-approved to buy a home now in the off season before rates climb. Securing a home loan now and refinancing when interest rates fall again is a smart financial move so you can purchase while home prices in North Georgia are lower.
• Less Competition and Bidding Wars –When there is less competition in the housing market, home buyers can get a much better deal on the home of their dreams. House shopping during non-peak home buying months is a savvy move since the majority of home buyers shop when the weather warms up and school gets out. Shopping now increases your chances of getting your offer accepted and the keys to your new home for less.
• Easier Negotiation – Your North Georgia Realtor can negotiate a better deal in a cooler market, so this is a huge advantage for home buyers. If a home is listed during the off-season, chances are good that the owner needs a quick sale. Often this is an indication that they have had a major life event like relocating for a job that requires a fast move. Home buyers are in luck in this scenario because negotiation is much easier in this type of situation. From a reduction in price to assistance with closing costs; your Realtor can better negotiate during non-peak home buying months which can yield great deals for you.

How to Get the Best Deal in a Buyer-Friendly Housing Market

• Work With an Experienced Realtor – It’s a savvy move to work with an experienced Realtor to buy your North Georgia home. Choose a real estate professional who knows the local market well so they can negotiate your home purchase and get you the best deal during the off-season.
• Negotiate Closing Costs – Consider asking for assistance with closing costs when you buy a home during the off-season. Typical closing costs are around 3% to 6% of the home loan, so asking the seller to pay for some of the expense is a great negotiating tool during off-season to lower your out of pocket expenses when offers are often hard to come by.
• Make a Lower Offer – Since it’s a buyer’s market in the off-season, get creative with your offers and even try putting your bid in for as much as 10% below the asking price. If the home needs repairs, try negotiating even more. If a seller is motivated and needs to sell their home quickly, you may get a great deal if they are ready to get the home sold so they can move on.

Work with the Best Realtor in Dawsonville, Georgia for the Best Deal on Your Home Purchase

Current market decisions can have a great impact on your home purchase in North Georgia. Our experienced real estate team at Southern Select Properties knows that buying a home in a less competitive market will give you the edge you need to get the best deal. Fewer home buyers to compete with means your chances are better to get your offer accepted at a better price due to less competition during the off-season.

Contact Southern Select Properties today to get started on the home buying process now to ensure you take advantage of the off-season market to negotiate the best deal.