Buying a coastal vacation home can be quite the process. It takes a lot of research, planning, and most importantly, timing. But in the end, everything will be worth it once you finally get that dream home.
So, when is the best time to buy a coastal vacation home? This may come as a surprise, but fall and winter are actually a great time to buy a coastal home. Here’s our list of reasons why:
Less competition
The beauty of buying a home during the colder months is the decrease in competition. Unlike the spring and summer seasons, there aren’t that many people looking into buying homes during fall and winter. This is when the craze of buying homes dies down because most people have already bought their homes in the spring or summer.
The off-season gives you an advantage. There’s less competition for you and more chances of finding a home. It also gives you more room to negotiate with the seller because there’s a lower chance of their house getting multiple offers.
Better deals
The prices of coastal vacation homes also tend to be a little lower due to the low competition. Prices for homes are usually lowered after peak season because the supply of homes on the market is greater than the demand. And if the sellers are particularly keen on selling their home, they will be more willing to negotiate the price.
This is still the Hamptons though so don’t expect to find huge price reductions! But with patience, timing, and determination, you’ll be able to get a good deal.
Motivated sellers
Sellers are motivated to sell their homes before the holidays. As much as possible, they want to get their homes off the market before these important dates approach because they don’t want the sale to disrupt their special time with family and friends.
Because of this, sellers are typically easier to negotiate with. They become more willing to compromise on the selling price, closing costs, closing date, and other terms of sale.
More realtor time
Buying a home during the fall or winter gives you more time with your Realtor. These are the seasons when real estate agents are usually the least busy. Realtors are normally at their busiest in the spring and summer, which are the peak seasons.
When you are buying a house during the off-peak season, it’s more likely that your realtor will be able to easily allot more hours towards for finding your coastal vacation home. (That said, good Realtors like the ones we have on our team at Kerrigan Country Realty will always find time to do what’s necessary for our clients – no matter the season!)
Other real estate and moving services are also not that busy in the fall and winter. Services such as movers, mortgage lenders, and title companies are known to be more responsive or have faster responses in the off-peak season.
Are you ready to start your search for your dream coastal home in the Hamptons? Get in touch with Kerrigan Country Realty at 631-288-9600 or broker(at)kerriganrealty(dotted)com today.