Are you wondering when the right time to buy a home is? Is one time of year really better than another time to buy? As summer turns to fall, many home buyers look to maximize this time of year. Read on to learn a few perks of buying a home in the fall.
Sellers Want to Sell
By fall, many sellers may be starting to lose patience. Especially for sellers who have had their house listed during the peak house-hunting seasons of spring and summer, they may start to get antsy and eager for a sale if their house has been on the market for a while. This may allow the buyer more flexibility and room to negotiate. Sellers may be more inclined to accept a lower offer from buyers if the home has been on the market a while and peak selling season is coming to an end. Since many people sell in the summer, the summer months can favor the seller; however, less demand and less buyers can make the house-hunting process more of a buyer’s market and you may even be able to secure a home for a lower price.
It’s a Buyer’s Market
Since fall is not as common as a season to buy a home, looking to buy in fall can actually be good for buyers. In peak buying season, buyers feel a lot of pressure to make offers and act quickly in order to beat out other buyers. This is not as necessary in fall because less people are looking and there is less competition. You can really take your time considering the homes you have seen. It is less likely you have other buyers knocking on the same doors. Buying a home is a huge decision and to not have to rush this decision is a huge perk.
Quicker Process
In general, buying a house in the fall can be a quicker process. Since you are looking to buy in off-peak times, mortgage companies are less busy and processing fewer loans. While there may still be some delay, it is likely that they will be quicker than they would be during peak months when they are working to service many loans. Not only is the process quicker on this side, but it is also likely quicker for other steps in the process like the home inspection. As home inspectors have less clients and more time in the fall, they may be able to process your inspection quicker and get you into your new home sooner!
Skip the Bad Weather
When looking to buy, there is a lot of running around to open houses to check out different homes you may be considering. This can be quite the experience if you are doing this when the weather is miserable outside. Other times of year running around to different showings can be a very hot or cold experience, but if you’re looking in fall, running around to look at different homes may be more enjoyable. What’s more? If you plan it right, you may be able to move when it’s still nice out and not have to worry about the labor that is moving in extreme hot or cold weather. Buying a home in the fall can make the searching and moving process more enjoyable!
Decreased Costs of Labor and Materials
Buying a home in fall can be especially great if you are looking to move in and get some work done on your home. Materials and labor are usually less expensive this time of year than they are in peak summer months, and you can save money on labor and materials needed for any desired home renovations. This is a slow season for contractors which may result in lower rates on labor, but it is also rolling into the holiday season where big appliance stores may be starting holiday deals and you may be able to save on appliances, too.
Fall is a great time to buy! Less competition can lead to lower prices for resources and for a less rushed and better thought out purchase. Griffin Realty Group works with clients in the northern Houston area to buy and sell homes. Contact us today to buy a house this fall. It’s a great time of year to do so!