There’s a new crispness in the morning air, the squirrels are busy hiding acorns and there is a hint of orange on the maple trees.
It’s fall and it’s the perfect time for pumpkin spice lattes, watching a football game and believe it or not, it’s also the perfect time to buy a house!
Obviously, the spring/summer buying season is usually tops for inventory and getting settled into a new home before school starts. But there are also some pretty compelling reasons to buy a home in the fall. Let’s explore!
1. There’s less buyer competition
Generally, competition for homes drops off in the fall, but there is still plenty of new inventory on the market. In addition, there is still some repositioned older inventory that didn’t sell, offering some potentially great options for buyers.
These factors may increase your negotiation power on a property. With potentially less demand for homes, Sellers may be more likely to consider all offers and negotiate accordingly.
2. Sellers are serious
Most fall home sellers aren’t “dipping their toes in the pool” to test the market or simply listing to take advantage of a hot market. Many fall home sellers are moving because the timing is right due to job changes or family situations. This means that sellers may be
more open to negotiating if necessary to meet their own family or lifestyle needs.
3. You’re the center of attention
Real estate agents are usually busiest during spring and summer, which means you might not always be the focus of their attention. But this tendency for sharper focus also rings true for other service providers such as lenders, title companies and inspectors. These professionals can often respond more quickly and meet your needs more effectively during the fall when their schedules are less packed.
It’s also easier to book movers and housecleaners as the summer peak lessens. The likelihood of experiencing a moving delay drops significantly during the fall, making it a great time to make a move.
4. Don’t forget the year-end deals on items for your home
Most homebuyers want to do a few improvements on their new property such as home maintenance items, purchasing new appliances, buying new furniture or other consumer goods. Did you know that according to Consumer Reports, the calendar is a great indicator of the best time to buy all sorts of consumer goods. For example, September often boasts sales for buying carpet and paint while October brings sales on exterior maintenance items such as lawn mowers. Look for great appliance and cookware sales in November—just in time for the upcoming holidays.
Fall can be an excellent time to take the leap into homeownership and 2021 is no exception. Interest rates remain low and inventory is steady. If you feel the time may be right for you, take a look at my tips for buyers and feel free to give me a call to learn more.