Spring and summer are traditionally busy times in the real estate world. But that doesn’t mean fall isn’t a great time to buy. Here are 8 amazing reasons you should buy a home this fall!
1. Less competition
Overwhelmed by the crazy multi-offer scenarios from last spring? Want to take a little more time to make a decision? Fall might be the time for you. While the Spring Hill real estate market is still thriving, competition tends to slow down in the fall.
One simple reason for this is that, with kids back in school, many families are less apt to move and disrupt the school year. But if you’re looking to move within the same district and your child can stay in school, or schools aren’t a factor for your home search, this could be your time.
This year has seen low housing inventory (the number of homes on the market) both locally and nationally, which has caused supply-and-demand issues with the available homes. While experts don’t expect that trend to entirely reverse just yet, less competition means you should take advantage of fewer buyers looking.
2. Better deals
Because of less competition, there can be more home inventory, which simply means more homes on the market. Supply and demand dictate that when there are more homes on the market, prices tend to be lower.
There’s also the possibility of getting more house for less money. Homes priced on the high side might not have sold during peak season. Some sellers get tired and may be ready to move quickly and make a deal.
According to this article, October is traditionally the best time to get a deal, with buyers paying 2.6% less on average. That may not sound like a lot, but when we’re talking about home prices, 2.6% is thousands of dollars. On a $250k home, for example, it works out to $6,500. If you want to maximize your home-buying budget, you should absolutely consider buying this fall.
3. Sellers can be very serious
If people tend to think of spring and summer as peak times to sell a home, those who do sell in the fall can be very motivated. Not all homes on the market this time of year are “leftovers.”
Significant life changes come up that don’t always allow sellers to wait for spring. That could be a job change, company requiring them to relocate, a new baby on the way and not enough space in their current home, or needing to be close to an aging parent.
These life circumstances create urgency for sellers. Whether there’s a due date for a baby or a start date for a new job, life changes can bring “deadlines” that sellers want to be done by.
That could mean buying from someone who is willing to be flexible in order to get a deal done. If you want to work with a serious seller who is eager to work with you, fall might be the best time to buy.
4. Better weather
Summer in Middle Tennessee can be brutal. It’s hot, humid, and often stormy. Who wants to look at homes, let alone move, in that weather? Gross.
In all seriousness, weather starts to cool down in the fall. That crisp air, the turning leaves, and fewer rainy days add up to great moving weather. You’ll save yourself – and your movers – the risk of heat exhaustion.
Plus, when you’re out looking at homes, you’ll get to see all those gorgeous fall colors and know exactly how the neighborhood looks at the prettiest time of the year. (I’m a dyed-in-the-wool fall lover, so I may be biased).
5. Save money on items for your new home
EVERYTHING goes on sale in the fall. Which is great, because you’re probably going to need some things when you move into a new home.
Whether you take advantage of holiday sales or year-end clearance on appliances and furniture, you can snag some great deals on things you need for your new place.
Plus, back-to-school season brought in lots of items for college dorms, which includes storage systems and youth-focused housewares. As these items go on sale later in the season, it’s a great chance to save money to outfit your teen’s room or even a storage closet.
If you’re on a budget and want to save money on both your new house and the items to fill it, don’t miss seasonal sales!
6. The perfect time to settle in
As days get shorter and cooler, we tend to spend more time indoors. Make use of that time to nest in your new space, then cozy up and get acclimated to your home.
Can you imagine snuggling up in front of the fireplace on a chilly night? Enjoying a big pot of soup from your new kitchen? What about more space for the family to spread out (since kids won’t be playing outside with it getting dark so early)?
Fall is also a great time to settle in because you have time to prepare for winter before it gets too cold. We do get snow and ice here and there in Middle Tennessee, so knowing your neighborhood (is it hilly? Would it be tough to get in and out if the roads were icy?) can be helpful.
Plus, you’ll have time to winterize your home and complete any projects before it gets too cold. Want to paint? The cool-but-not-cold weather will allow you to leave windows open for ventilation. Once you’re settled in, do you notice a draft? Pick up a roll of weather stripping for a few dollars before it gets too cold.
7. Home for the holidays
What better way to make your new house a home than celebrating holidays around the dinner table? Just think about how cozy your home will feel with candlelight, holiday decorations, and loved ones gathered around the table.
If you don’t want to host Thanksgiving or Christmas dinner, a holiday-themed housewarming party could be a great chance to connect with loved ones and show off your new home.
8. Save some money on taxes
If you’re a first-time homebuyer, you may want to get that deal done before the end of the year so you can enjoy the tax benefits of home ownership that much sooner. If you wait until spring, it will be another year before you see the impact on your taxes.
Sound good? You’ll need a great buyer’s agent to help you find the perfect home this fall. Just email firstname.lastname@example.org or click here to fill out our contact form, and I’ll connect you with an agent who can make the home-buying process smooth and simple!