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5 Benefits to Buying a Home This Fall

View of Wilmington North Carolina from across the river

Although the spring and summer months are known to be the best time to buy a house, fall is emerging as the new ideal season to buy a home. Here are five reasons why fall can be a great time to buy!

Let’s Make a Deal

Typically, sellers will list their houses on the market at the beginning of spring. As the summer passes by, and no bargain has been struck with a buyer, price reductions will start to appear. After Labor Day, sellers are probably feeling a little more concerned about getting their house sold, and by October, you are likely to find desperate sellers that willing to negotiate a good deal.

Less Competition

2019 has very been a seller’s market, meaning there are more buyers in the market than there are homes to purchase which means increased competition among buyers. Timing, however, also plays a major role with buyers when the fall season hits. Families who want to be in a new home by the beginning of the school season are no longer shopping at this point. That translates into less competition and more opportunities for buyers.

Center of Attention

Because spring and summer are the prime-time seasons for house hunting, realtors are super busy with their time divided among clients. In fall, agents have more time to devote to buyers with the market slowing down. In addition, other professionals such as mortgage lenders, home inspectors, painters, handyman, and movers have more time in the fall to devote to home buyers as well.

End-of-Year Sales

There are bound to be a few improvements you’ll want to make after buying a house. You might also need tools to maintain your home, and if appliances weren’t part of the deal, you’ll need those too. Wouldn’t it be great to coordinate your home purchase with sales on items you’ll need? According to Consumer Reports, September is a great time for buying carpet and paint, October signals the impending sales on lawn mowers, and appliances and cookware are cheaper in November.

See the Flaws

Harsher weather in the fall and winter months offer opportunities to reveal flaws to buyers and home inspectors, so it’s a great time to see a home’s true colors. It’s better to see the home’s flaws before making the offer, instead of being surprised months after you close. In fact, the best time to do a property inspection is in the rain and snow, because any major issues are more likely to be exposed.

Feel convinced that fall really is a good time for you to buy? Talk to one of our experienced loan officers today to get started on your home buying journey!

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Equal Housing Lender LogoALCOVA Mortgage LLC | NMLS#40508 | (www.nmlsconsumeraccess.org)
Licensed in AL, CO, DC, FL, GA (License #42101), KY, MD, NC, OH, PA, SC, TN, VA, WV | 308 Market St SE, Roanoke, VA 24011

Equal Housing Lender LogoALCOVA Mortgage LLC | NMLS#40508 | (www.nmlsconsumeraccess.org)
Licensed in AL, CO, DC, FL, GA (License #42101), KY, MD, NC, OH, PA, SC, TN, VA, WV | 308 Market St SE, Roanoke, VA 24011