Reasons To Buy A Home In The Fall

Fall is the time when most weddings happen and perhaps the newlywed need a home to start their family. 

Fall is the time when the new school session begins people would like to move homes. 

The climate is much cooler and pleasant. It is also the right time to buy a home according to many experts. 

Following are the list of reasons convincing us to buy a home in Autumn :

Less Competition – As spring is the most popular time to buy or sell a home, many people list their homes on the market from March to July.  

Fall is the time of new inventory and repositioned old inventory that did not sell in the prime season. So the majority of people who are interested in buying a home have likely found their ideal property. 

This means that the number of buyers competing to buy the same home will be fewer.

Sellers are more open – Some sellers who put their homes on the market during the prime selling times of spring and summer by listing their homes for more than buyers were willing to spend. 

After months of no action, these sellers are often ready to make a deal.

Sellers get serious – Some people need to sell in the fall because the timing is right. Maybe they were having a home built, and it’s now ready. 

Maybe they need to shift because of a job. So the sellers could be more open to negotiating and accepting a lower offer.

You will get more attention – There are real estate agents, mortgage lenders, property appraisers, closing attorneys, property insurance agents, and surveyors involved in the sale of a home. 

When lots of homes are being sold in the spring and summer months, these people become busy and may not be able to provide adequate attention to each and every client.

However, in the fall, this is not the case. Fewer transactions mean you will be able to easily get in touch with your lender and real estate agent in order to get your questions answered.  

It will also be a bit easier to schedule the various appointments for a home showing, appraisals, and the loan closing.

Tax Breaks Can Help for Next Year – The amount that homeowners pay in property taxes and interest on a mortgage may be used as deductions on your annual federal tax return. 

Since the amount of taxes paid when a home is purchased may be large, this can help offset taxes for the following year.

The pending holidays can work in your favor – Many people enjoy decorating their homes for the fall holidays. 

Lavish Halloween decorations, colorful Thanksgiving layouts, and then the ever-popular trend of getting a home ready for Christmas are very important to lots of people. 

Some sellers may be willing to take a lower price on their home if it means you are buying the property soon and allowing them to get their new home ready for decorating. 

It also means that you will be moved in and enjoying your new home when the holiday time begins.

Outfitting a home may be cheaper – Buying a home can mean other major purchases for many first time home buyers. 

Large items such as kitchen appliances, lawn equipment, and laundry equipment can quickly add up to a lot of money. 

The months from September to November are ideal times to purchase these big-ticket items since most of them go on sale during this time. 

If you also need to re-carpet or re-paint the home, it can also be a good time to save on labor for these services.

Fall is a safer time of year – July and August are prime months for burglaries to take place. 

As lots of homes are empty for open house showings or late evening showings making it an ideal ground for burglars Waiting until the fall to buy gives you an advantage when learning about a home and the neighborhood. 

You will be settled in your home and can take precautions of setting up that new alarm system.

Sellers will entertain your offer – There are 2 types of people selling a home in the fall: (1) homes that did not sell earlier in the year and (2) people that really need to sell a home.

The homes that didn’t sell may have been priced too high, or there was an issue with the property that has been fixed, or perhaps the market just had too many other homes for sale. 

Whatever the reason, these sellers are tired of listing their homes and more willing to entertain a reasonable offer.

The people that really need to sell a home usually have a pressing reason for wanting to move. Perhaps they have received a promotion that is forcing them to a new area. 

Or maybe they were building a home that took longer than anticipated and now the new place is ready for move-in. 

Whatever the case, these sellers are also ready to listen when a willing buyer comes along with a decent price proposal.

Prices fall in The Fall – Homes sold in the autumn months are usually a bit cheaper compared to the prices of properties from Spring and Summer. 

RealtyTrac did a study of 32 million homes that were sold over a span of 15 years. Their study found that the average price of a home bought in the month of October was 2.6% lower than the estimated market value. 

This means a home that is valued at $250,000 could be sold to you for $243,500 saving you $6,500. Keep that in mind when it is time to submit an offer.