Although the spring and summer months are known to be the most popular time to buy a home, autumn is emerging as the new ideal time of year to buy a home. Here are five reasons why fall can be a great time to shop!
Let’s make a deal
Typically, sellers will bring their homes to market early in spring. When summer goes by and no bargain has been made with a buyer, discounts will appear. After Labor Day, sellers are likely to be a little more concerned about their home being sold, and by October you are likely to find desperate sellers ready to get a good deal done.
We are currently in a sellers’ market, which means there are more buyers in the market than there are houses to buy. While this leads to increased competition among buyers, timing also plays a major role in the fall season. Families who want to move into a new home at the beginning of the school season are currently no longer shopping. That means less competition and more options for buyers who are still searching.
In the focus of attention
Since spring and summer are the main season for looking for an apartment, realtors are very busy with their time allocation among customers. In the fall, agents have more time to attend to buyers as the market slows down. In addition, other professionals such as mortgage lenders, home inspectors, painters, craftsmen, and moving companies have more time in the fall to devote themselves to home buyers as well.
End of year sale
There are certainly some improvements that you might want to make after purchasing a home. You may also need tools to maintain your home, and if devices weren’t part of the deal, you will need them too. Wouldn’t it be great to coordinate your home purchase with selling items that you need? According to Consumer Reports, September is a good time to buy freezers and lawnmowers, and October signals upcoming sales of snow throwers and equipment will be cheaper in November.
See the bugs
The harsher weather in the fall and winter months provides opportunities for buyers and home inspectors to spot mistakes. So it’s a good time to see the true colors of a house. It is better to see the shortcomings of the house before making the offer, rather than being in for a surprise months after it has closed. In fact, the best time to do a property inspection is when it rains and snow, as bigger problems are more likely to be uncovered.
Are you convinced that autumn is really a good time for you to shop? Talk to one of our expert loan officers today to get started on your home purchase!