Spring and summer are traditional real estate seasons, right? Sellers start listing, buyers start hunting, real estate agents are busy, and homes are selling like hotcakes. Here’s a tip though: While spring and summer are the “hot” market months, autumn is an oft-overlooked homebuying prime time!
Here are five reasons buying a home in fall is actually fantastic.
There’s Less Competition
If spring and summer are the busy months, they’re also the seasons you’re most likely to be competing with other buyers for the same houses—sometimes even resulting in bidding wars, which are never an ideal situation for a buyer.
But come fall, the market slows down, giving you the time to browse, visit, and think before jumping in to make a hasty (and high) offer aimed at beating the competition.
Sellers are Serious
Since most sellers want to list their homes during the time when there are a lot of interested buyers (read: spring and summer), those that do list during the fall are usually either left over from summer, or newly in need of a move, for one reason or another.
Either way, it boils down to serious sellers. Sellers left over from summer are likely tired and ready to close—even if it means a price drop. And sellers needing to move are, again, likely eager to close, which might mean a good deal for you.
Interest Rates are LOW
One of the special perks of THIS fall homebuying season is that interest rates are pretty darn low. Towards the end of 2018, rates were climbing towards 5%, but earlier this year, they actually took a surprise turn and currently sit around 3.8%—a pretty significant difference in both your monthly payments and in the overall cost of your home.
Your Agent Will Have Plenty of Time
During the busy spring and summer seasons, agents are busy! And while even the best agents will try to make time for every client, the reality is, we’re probably rushing from a showing to a home inspection to a closing, to another showing… all in a matter of a few hours!
When you buy a home in the fall, however, most real estate agents have slowed down quite a bit—which means plenty of time for learning more about your goals and interests, searching homes for you, and taking you to meet the houses you love.
Fall Home Buying is Beautiful!
In the Triangle… summers are hot. It’s reality. Walking around the yard or the neighborhood of a potential new home might not be all that pleasant in the dead-heat of summer. But lower fall temps make for perfect house-touring weather. Plus, as the season wears on, we’ll start to get some gorgeous fall foliage, too.
Thinking of Buying a Home in the Triangle This Fall?
Are you thinking of buying a home in the Triangle suburbs this fall? Then it’s time to contact Ann Milton Realty. We’re here to help you explore the area and enjoy its beautiful community—all to ensure you find the perfect home for you!