Why Fall Might Be the Best Time to Buy a Home

While home shopping during summer may be more convenient, buying a house during Fall could give you a better deal. The Fall real estate market often sees more motivated sellers and less competition, potentially providing you with an opportunity to get a great property at an outstanding price. Along with potentially lower prices, Fall frequently affords home buyers a chance to win big on negotiations as sellers seek to close deals before the holidays.

Below are some reasons why Fall might be the best time for you to find a home.

 Less Competition 

Fall is considered the off-season in real estate. Fewer buyers are looking for houses, meaning less competition for properties. Fall might be the perfect time to present that low offer or negotiate terms favorable to your situation. If you’re the only buyer making an offer on a home, you could walk away with an incredible deal.

 Motivated Sellers 

Sellers who didn’t unload their properties during spring and summer (real estate’s peak seasons) often want to close before the holidays or the end of the year. They might be more flexible on price and other terms, such as repairs, closing costs, and length of escrow.

 Potentially Lower Prices 

Fewer buyers and more motivated sellers may mean you’ll find the home you want for an exceptional price. Houses that have been on the market for a while frequently get under contract for lower than list price during Fall.

 Personalized Attention 

Since Fall is a less-busy time in real estate, buyers may receive more personalized attention from lenders, home inspectors, and other service providers involved in the sales process.

 Moving Date Flexibility 

Because sellers often have a strong desire to get under contract, they may agree to move-in dates that best suit the buyer, including quick or long escrows and rent-back scenarios. Closing at an optimal time can save you money, time, and hassle.

 Better Overall View of the Home 

Purchasing a home during Fall often allows buyers to get an idea of how a property and neighborhood will hold up in inclement weather like rain, wind, and chilly temperatures. A buyer looking for a house in Fall might also get to experience the nuances of the season in a specific area, such as discovering the beauty of the local fall foliage.

 Tips for Buying a House in the Fall 

If you’re thinking about buying a house during Fall, follow the tips below to make the most of your home-searching time.

Be prepared to negotiate. Sellers may be willing to negotiate on price, close of escrow date, and other terms. So, do your homework, investigating market trends and making a list of items you’d like a seller to agree to.

Be patient. Because Fall is the off-season in real estate, you’ll likely see fewer homes on the market. Don’t be in a hurry to close on a property unless it’s your dream house. Take time to find exactly what you’re looking for or at least something that you can make your own, given your time, budget, and talents.

Visualize the home year-round. Consider how a house and neighborhood will look and fare throughout the seasons, especially during cold winter months and a potentially scorching summer.

 Is Fall Really a Good Time to Buy? 

Still wondering if Fall is the best time to search for a home? Consider that price cuts, more leisurely shopping times, and extra motivated sellers could make Fall house shopping more than worthwhile.

Here are some highlights of a typical Fall real estate market:

• Buyers may have more homes to choose from

• More properties on the market could mean more time to consider options

• Prices often flatten or drop

• Buyers can often avoid bidding wars

• A buyer might have greater negotiating power

If you’re now convinced you should start shopping for a home during Fall, ensure you have your financing in order and have chosen an experienced real estate agent to guide you through the process.

Are you looking to sell or buy a new home? Let Better Homes and Gardens® Real Estate walk you through the process.

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