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When most people think about the Fall, buying a home isn’t often on their list of priorities. With all the responsibilities a new season brings, some potential homebuyers skip looking at houses during Autumn and wait for the market to peak again in Spring. Before you throw in the towel and wait until the Spring market, we’re exploring the top reasons Fall buying may give you the advantage you need.
Many people consider the Fall housing market to be the off season. With school starting and holiday prep, there are less buyers on the market than in Spring and Summer. Many sellers are motivated to sell before the busy holiday season begins and inclement weather becomes persistent. With motivated sellers, buyers are more likely to have a competitive edge for negotiations on price, a closing date, and other terms.
As the market becomes less competitive and slows down, business professionals can be more prompted to find steady business. The summer is the most common season when people move, driving up prices for movers and other real estate businesses. Your Real Estate Agent, appraiser, inspector, and even your moving company may go the extra mile to ensure you’re getting the best deal.
Purchasing a home during a competitive market can be tricky. Homes leave the market quickly or are stuck in fierce bidding wars.
Bidding wars require fast reactions, but a slowdown in the market gives you time to weigh your options and compare properties. You can comparison shop with less stress to ensure you’re buying exactly what you want with a price that works for your financial picture.
When a prospective buyer sees a property in the summer or spring, they’re viewing it at its peak beauty. Surrounded by blooming flowers, blue skies, warm air, and green space, many buyers may see the picturesque. In many regions of the United States, viewing the home in Autumn reveals information about the home’s overall structural integrity, the state of the HVAC system, and how the property will hold up against the elements. This type of insight is beneficial for planning maintenance and upgrades.
Many families take vacations in the late spring and summer months when their children have time off and workloads have slowed. Some homeowners may feel isolated when they move in, especially if their perspective neighborhood is family-focused. When back-to-school season begins, neighborhood activity often perks up again. You and your family can move in, get to know your neighbors, and feel more connected to your new space.
Purchasing a home before Winter has its perks. One of these perks is being able to ask your loved ones for assistance with new furniture and necessities for your home! Not only will you get the physical things you need, but your home will also feel full of love and celebration as the holiday season settles in.
Ultimately, homeownership season begins when your finances are in order, you have a rich credit mix, and you’re ready to jump into house hunting. Whether the leaves are turning colors or the flowers are pushing up through the snow, our Loan Originators are here to make it happen. When you’re ready to get started with a pre-approval, contact us!
Homestead Funding offers exceptional customer service and a convenient mortgage process. Whatever your financing needs, our goal is to exceed your expectations.