Just as the seasons change, so do peak real estate times. That means now is the ideal time to share eight things to keep in mind when buying a home in the fall that may work to a buyer’s advantage!
Fall is typically considered the off-season in real estate. Therefore, buyers may have less competition.
What’s more, inventory more often than not tends to stay the same, which means there are still plenty of homes available.
Buyers have time to negotiate.
Less competition also means the odds of getting caught in a bidding war go down. Hence, buyers can take back a little more control.
This includes everything from negotiating the price to asking for your preferred closing date.
More available help.
In general, since it’s slower, real estate professionals and other service workers have more time on their hands. Thus, they have more time to focus on you!
Expect prompt responses from your Realtor, lenders, contractors, inspectors and more this time of year.
Sellers are motivated.
Some sellers may have come on strong in the peak spring and summer months. They may have overpriced their properties or struggled to find the right buyers.
New sellers usually have a good reason for listing their homes this time of year. In the end, all signs point to motivated sellers, which is good news for buyers!
You might enjoy better rates.
As the year winds down, mortgage lenders and bankers may be open to discussing a slightly better deal just to get the deal done.
No matter what, it’s always good to shop around and ask about savings when it comes to interest or even down payments.
First-time buyers get tax breaks.
Remember, first-time homebuyers receive property tax and mortgage deductions. This holds true even if you don’t close until December.
You’ll see the house in a different light.
Next on the things to keep in mind when buying a home in the fall is how it looks without the spring flowers and summer sun. When you shop for a house in the fall, you may get a better idea of what it’s like on a cloudy or rainy day.
You may also get a better look at the exterior without all that landscaping acting as camouflage.
Save on home décor.
Who doesn’t love shopping for their new home? If you move into your new home at the end of the year, you will hit the jackpot on year-end and holiday sales!
You will be able to bargain hunt for everything from new furniture to new appliances to new throw pillows.