Reasons to Buy a New Home this Fall

The fall is a great time of year for many reasons, let’s see, there is the pumpkin-flavored everything, the trees are changing to beautiful red, orange and yellow hues, did we mention all the comfort foods that taste so much better this time of year?! All of these are great reasons to love the fall season, but do you know there is another reason to love the fall? It is a great time to buy a new home! You know how you are able to score great deals at some of your favorite retailers when the seasons change? Well it works in the same type of way with Real Estate. We are going to give you five great reasons why you should purchase a new home this fall.

1. Inventory from spring needs to sell! – Homeowners looking to sell tend to list their home at the first signs of spring. Sometimes these homes get listed too high and sits on the market through the summer. If the home is still on the market by the time fall arrives, the price most likely gets reduced. This is a great time to take a look at the properties you might have had your eye on in the spring and summer and see what they are listed for now.
2. Less competition in the buyers market – Most families with children have already found a new home at this point as they want to be moved in at the start of the school year. These buyers are not likely shopping around anymore which means less competition for you. The open houses may be less crowded therefore giving you an opportunity to make an offer with a little more breathing room.
3. Sellers are more motivated to close quicker – Since a home is also viewed as an investment for many homeowners, they may want to close before the end of the year. Why? Well if they close on the home before December 31st they can receive a tax benefit. If you find a seller who is motivated for this reason, you may be likely to score a better deal.
4. Homes for sale near the holidays also indicate a motivated seller – The holidays can be a stressful time of year and worrying about showings and if a the home will close before this time can cause a seller to become more motivated to sell their home. If you find a home on the market during this time you might have a good chance of getting a better deal as the homeowner will likely want to sell before then.
5. The lack of landscaping makes homes less appealing to some buyers – With the trees losing their leaves and the flowers dying, it can make for a less-than-attractive facade to the home. Sometimes buyers notice things they might not have noticed in the spring and summer. Also, this time of year is great for home inspections when the weather is not as dry. It is better to be exposed to a home’s ‘flaws‘ than be surprised come winter.

As  you can see there is a great deal of benefit for a homebuyer in the fall months. If you are one that is willing and able to hold out and do your house shopping during this time, you are certain to find some great deals that may not have been there earlier in the year. If you are ready to do your house shopping and would like to start by getting preapproved for a mortgage, we would love to hear from you. You can contact us here for more information!