Buying or selling a home? Now is a good time for both

for-sale-signBuying or selling a home? Now is a good time for both

The second busiest season for buying and selling a home is upon us, and according to recent reports, the fall market is favourable for both buyers and sellers. Surely, it can’t just be the season’s pretty colours causing the upswing in real estate activity this time of year.

According to Phil Dorner, president of the Ontario Real Estate Association, a variety of factors may be responsible for the increase in home buying and selling. “Much like spring, fall offers a great climate in which to show your home. Also, many buyers are back from summer holidays and getting back to business.”

When it comes to the fall real estate market, does more supply equal greater demand or vice versa? “It’s hard to say which one leads the charge,” says Dorner. “Whichever it is, they seem to meet somewhere in the middle this time of year.”

Some of the benefits for selling a home in the fall months include:

Climate – mild temperatures and beautiful fall colours create the perfect setting for showing a home.

More time – come fall, people tend to settle back into routines, leaving more time and dedication for the home selling process.

Serious buyers – most buyers want to be moved in and settled into their new home before the holidays and winter hit, so any interest you receive will generally be serious.

Some of the benefits for buying a home in the fall months include:

Tax breaks – if you purchase a home before the new year, you can claim deductions on your 2013 taxes.

Good weather – warmer weather makes moving much easier. It is also easier to assess the quality of a home’s exterior when it’s not raining or snowing.

More choices – there is a wider selection of homes available during this period, and you may even be visiting several open houses in a single day.

Despite the increase in activity this time of year, there really is no wrong time to list your home. According to Dorner, “if you price your home right and make every effort to present it in a superior way, chances are you will sell your property in a timely manner regardless of the season.”

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This article is provided by local REALTORS® and the Ontario Real Estate Association for the benefit of consumers in the real estate market.