Many homebuyers want to be in a new house before the fall. It means being settled in time for the new school year and the upcoming holiday season. The spring and summer seasons also mean the inventory is often at its highest. However, there are many other reasons to buy a house in autumn. If you’re considering buying a house, read on to learn why the fall is a great time to buy a home.
Fewer homebuyers
The competition is often high if you’re buying a home during the spring or summer. Many other buyers are also looking, which can mean limited inventory, bidding wars and higher home prices. However, if you delay your home search until the fall, there may be less competition, which can mean that other competing offers won’t impact your offer.
Less pressure
With less competition, there is also less pressure. In the spring and summer, you may feel pressure to make a higher bid on a house, buy a home that doesn’t meet all your needs, or concede to terms that you’re not entirely comfortable with. By reducing some of the homebuying competition, there may be less pressure to make a higher offer or agree to all of the seller’s terms.
More serious sellers
Sometimes, sellers try to test the market by listing their house in the spring or summer. They may want to see how quickly it could sell or how high of an offer they can get. However, if a seller is listing a home in the fall, they may have a tight timeline and will be more willing to accept your offer. They also may be more accommodating of any buyer requests to move the sale along.
Potentially lower home prices
If a home didn’t sell during the spring or summer, a seller may lower the asking price as the seasons change. This doesn’t mean anything is wrong with the house. It may simply mean that the right buyer hasn’t come along.
More flexibility
With the busy season behind them, your real estate agent, loan officer, inspector, or other professionals have more flexible schedules. Between summer travels and busy workloads, it can be challenging to schedule the necessary appointments, meetings and inspections that need to happen as part of the homebuying process.
More time to move
With the height of the moving season behind them, moving companies may have more openings and can better accommodate your desired moving days. Also, if you have children, being able to move and pack when they’re in school can make the overall process smoother and more manageable.
