Is It A Bad Idea To Buy A Home In Fall?
Traditional advice tells us to list and buy homes exclusively in Spring and Summer. Let’s explore where that traditional advice came from and the potential advantages of purchasing a home in the fall!
The typical advice and expectation for Spring and Summer to be the busiest and best time to buy or sell synchronizes with the school calendar. Many people don’t want to move after fall because it may mean changing school districts for their kids. many buyers are concerned that they’ll have to move after it begins snowing. On that same token, it can also be difficult to convince buyers to look at homes when the weather is colder.
However, Fall may be an incredible time to purchase a house. Here’s why:
Changing Homes Doesn’t Have To Mean Changing Schools
With a quick conversation, your realtor could be made aware of what school district you’d like to limit your home search to. If it’s important to your family to stay in a certain district to limit any impact on children, it’s just a matter of limiting your search parameters. Your realtor will only send you listings, then, in your district of choice.
There’s Less Competition
Because the established advice is to wait until Spring or Summer, many buyers pause their home search as soon as Fall hits. With fewer buyers on the market, there’s a lower chance of getting into a bidding war or losing out on the home of your dreams to a more competitive offer.
Sellers Are Motivated
It may be likely that homes on the market in the Fall have motivated sellers. This may be due to a change in job or family circumstances. Whatever the reason, sellers will likely be flexible when negotiating the terms of the sale.
Home For The Holidays
Moving in the Fall allows you to avoid relocating all of your possessions in hundred-degree heat, while still being settled in before the holiday season. With the hustle and bustle of the holidays, it’s nice to be completely situated in a home you love.
Center of Attention
Because Fall is typically a slower time of year for home sales, your realtor will have more time to dedicate to your transaction. They’ll likely have more time in their schedule to show you homes. It may also be much easier to get on a Home Inspector’s calendar sooner! With fewer buyers on the market, you’ll be the center of attention for your home-buying team!
Purchasing a home in the Fall has the potential to give the buyer many advantages! As Ray Brown famously said, “The best time to buy a home is always five years ago”. So don’t wait until next Spring just because traditional advice says so!
If you’re interested in getting pre-approved to purchase a house this Fall, give us a call today!