Although the spring and summer months are known to be the most popular time to buy a house, fall is emerging as the new ideal season to buy a home. Here are five reasons why fall can be a great time to buy!
Let’s Make a Deal
Typically, sellers will list their houses on the market at the beginning of spring. As the summer passes by, and no bargain has been struck with a buyer, price reductions will start to appear. After Labor Day, sellers are probably feeling a little more concerned about getting their house sold, and by October, you are likely to find desperate sellers that willing to negotiate a good deal.
Less Competition
Currently, we are in a seller’s market, meaning there are more buyers in the market than there are homes to purchase. While this leads to increased competition among buyers, timing, however, also plays a major role when the fall season hits. Families who want to be in a new home by the beginning of the school season are no longer shopping at this point. That translates into less competition and more opportunities for buyers that are still looking.
Center of Attention
Because spring and summer are the prime-time seasons for house hunting, realtors are super busy with their time divided among clients. In fall, agents have more time to devote to buyers with the market slowing down. In addition, other professionals such as mortgage lenders, home inspectors, painters, handyman, and movers have more time in the fall to devote to home buyers.
End-of-Year Sales
There are bound to be a few improvements you will want to make after buying a house. You might also need tools to maintain your home, and if appliances were not part of the deal, you will need those too. Wouldn’t it be great to coordinate your home purchase with sales on items you will need? According to Consumer Reports, September is a great time for buying freezers and lawn mowers, October signals the impending sales on snow blowers, and appliances are cheaper in November.
See the Flaws
Harsher weather in the fall and winter months offer opportunities to reveal flaws to buyers and home inspectors, so it is a great time to see a home’s true colors. It is better to see the home’s flaws before making the offer, instead of being surprised months after you close. In fact, the best time to do a property inspection is in the rain and snow, because any major issues are more likely to be exposed.
Feel convinced that fall really is a good time for you to buy? Talk to one of our experienced loan officers today to get started on your home buying journey!
