If you don’t need to buy in the spring or summer, holding out until the fall or winter could be the way to go. Although there are benefits and disadvantages of buying a home in any season, there are many benefits of buying a home in the fall. Read on for a few of the benefits of buying a home in the fall provided by Burns & Ellis REALTORS in Dover, DE. When you are ready to begin home shopping, contact our REALTORS. We always have an agent on duty!
Sellers are Motivated
Sellers are generally more motivated to sell in the fall and winter months. Homeowners usually like to sell in the spring and summer, so if they are listing their home in the fall, they have to sell, not because they want to. In the fall, sellers are more motivated to sell because the summer rush of buyers is over, and they are desperate to sell before the holidays and winter. This leads to excellent negotiating opportunities for the buyers.
Less Competition
Usually, people buy in the spring, move in over the summer, and are settled before school starts in the fall. Let the other buyers compete for homes in the busier months if you can. Once school starts and the other families are moved in, it can become a buyer’s market for you. In the fall, you can take your time looking at houses and inspecting them before making any moves. Many people have rushed into homes because other buyers were chomping at the bit and then have regretted purchasing a home that didn’t fit their needs.
REALTORS are More Accessible
Now that the busy summer months have come to a close, REALTORS are not stretched so thin and can provide their fall and winter clients with more availability. This also goes for loan officers and other people involved in the home selling process.
The Houses are More Realistic
It’s easy to make a home look good in the summer. In the fall, it’s much more difficult to hide a home’s imperfections. This includes where the leaves fall in the yard, if there are any leaks in the basement, and you can get a glimpse into what the neighbors are like. In the summer, families go on vacations, and the home-life routine is the most out of place. In the fall, everyone is home, and you can get an idea of what the neighborhood is like.
May Be Able to Close Sooner
In the fall, buyers have the upper hand. Sometimes closings can take months, but in the fall, sellers generally want to be rid of the house quickly. Also, there may be fewer offers in the fall, so even if the seller wasn’t in a hurry to sell, they might accept the offer with the quicker closing because they have no other choice. It usually won’t affect your chances of losing the house if you include a closing date in your offer, so it doesn’t hurt to at least try.
Contractors are More Available
If you buy a house in the spring or summer and want to make upgrades, you could be shocked by how far out many contractors are booked. But, in the fall and early winter, many contractors' schedules slow down so they can fit you in months earlier than if you had purchased a home in the summer.
Holiday Sales are Right Around the Corner
Make a wishlist or save items to your cart online so that when Black Friday and other holiday sales come around, you can get new appliances, furniture, and home goods at a discount. Or, you can let friends and family know what items you need for your new home and possibly get the items on your list as gifts or, at the minimum, gift cards. Buying a home is a significant investment, no matter the time of year. If you are mentally and financially prepared with good credit and have been preapproved by a bank, then call the team at Burns & Ellis REALTORS, and we can help you get into your new home this year.