Have you ever thought about Fall being one of the best times to buy a new home? A lot of the time we think that Spring is the prime time for a bunch of reasons; you’re ready to get outside and active again, wanting to move into a new house before the kids go back to school, and avoiding having to move in the summer heat. Also, who can forget that real estate properties look their best with manicured lawns and flowers in bloom! But, there are just as many reasons to hold off until Fall to make the move. Let’s break it down below!
1. Sellers are Motivated and More Serious. Many people think that houses that are on the market in the Fall are just Summer leftovers, but that’s not always the case! Some people might have been waiting for their new home to be built and it’s now ready. Maybe they need to move because they are being relocated for their job. Many different reasons you might not have originally thought of. These sellers are motivated and serious about selling their home so they can get into their new home before the end of the year and settle before the holiday’s. Since they are so motivated, they tend to be more open to negotiating and accepting a lower offer!
2. There is Less Competition. With many thinking that Spring and Summer are the best times to buy, the competition tends to drop off in the Fall. Potential buyers with children are usually out of the market once school has started while other buyers hold back in the fall months due to inclement weather, daylight hours becoming shorter, or demands for the holiday’s. These reasons put you in a great position if you are looking to buy in the Fall. You will have more freedom to come in with a lower offer and negotiate the sales price since there isn’t as much competition.
3. The Focus is On You. During the prime selling months, especially this past real estate season, agents, lenders, inspectors, title companies, etc., tend to be very busy so the focus on you might be interrupted with their other clients and obligations. In the Fall, they usually experience a lighter schedule, giving them more time and energy to focus on helping you. You are more likely to experience quicker responses and a less stressful journey that are more snag-free.
4. Needed Upgrades May be Cheaper. If you happen to purchase a home in the Fall that needs some fresh paint, new appliances, or other upgrades, you can also save on all of that in the Fall! Many home improvement items are actually at their lowest prices throughout the fall and winter months. According to Consumer Reports, September is one of the best months to purchase paint or carpeting and November and December are the best months to purchase major appliances.
Contact one of our experienced loan officers today to get your Fall move underway!