www.rate.com Open in urlscan Pro
104.18.102.70  Public Scan

Form analysis
0 forms found in the DOM

Text Content

Skip to main content
GuaranteedRate – Digital Mortgage Company

CALL US (866) 934-7283
Apply now My account
>Click for navigation options
 * Loan Options
 * Rates
 * Knowledge Center
 * Mortgage Calculators
 * About Us
 * Research
 * Personal Loans

Buying a Home
Mortgage Process & Options
Refinance
Mortgage News

See more
 * Buying a Home
 * Mortgage Process & Options
 * Refinance
 * Mortgage News


8 REASONS WHY FALL IS A GREAT TIME TO BUY A HOME

Share

By Craig Wales on 8/19/2021
Tags: buying a home before you buy
Share


At this point, it’s commonly accepted wisdom that the spring is the best time to
buy and sell a home. For many years, that thinking made sense: you buy a home in
the spring, so that you can move in during the summer, so that your kids can be
settled in by the time they have to go to their new schools in the fall. 

The flaw in this thinking, however, is that a lot of people think the same way.
And when there are many homebuyers, there is more competition for the homes that
are available.

That’s why savvy home shoppers know that fall is just as great a season to buy a
home as the spring – if not greater.

Here are a few reasons why:


1. THERE ARE FEWER SHOPPERS 

As we mentioned above, this is the number one reason that the spring selling
season is overrated. After all, it’s more commonly called the spring selling
season—not the spring buying season—for a reason. It’s a great time to get top
dollar for your home when there are so many eager buyers driving up the price.

But that competition cools off in the fall. 

A recent report by the National Association of Realtors (NAR) shows a
year-over-year trend of home sales spiking from the spring through the summer
months, then tapering off as soon as back-to-school time arrives. You can see
why sellers are anxious to get their homes on the market at the beginning of
that spending spree.

If you can wait out the market and jump in after the spring and summer rush, the
benefits are far more than more elbow room at the open house. Fewer home buyers
lead directly to the next reason fall is a great time to buy…


2. PRICES TEND TO DROP

That same NAR report that showed sales dipping once the temperatures dropped
also shows home prices falling during the fall as well. This could be a
reflection of a large group of sellers who missed out on the hot selling season
and are now more motivated to get out from under their home payments.

You may be worried that any home left on the market as fall hits must have some
sort of issue with it. Otherwise, why would it still be for sale? But there are
many reasons that the home may be sitting there on your favorite home listing
site:

 * The seller’s life is changing, and he or she needs to sell the home quickly
 * The seller needed to make improvements before listing and couldn’t get them
   done in time
 * The seller didn’t find the right buyer during the spring or the summer
 * A sale fell through in the spring, and the seller had to fix the issue before
   relisting the home
 * The seller may also want take advantage of a slower selling season, when
   there will be fewer comparable homes 


3. YOU’LL BE ABLE TO TAKE YOUR TIME

Buying a home is usually one of the biggest financial decisions you’ll make in
your life. You don’t want to rush into anything, but if you’re competing with
many other eager homebuyers, you may not have much time to consider a home
before putting in an offer. You won’t feel that pressure during the fall. 

A recent survey of new homeowners conducted by Bankrate found that nearly 64% of
millennial homebuyers have regrets about their decision. Some of the most common
misgivings are around the financial commitment being too great and the size of
the home not fitting their needs. Two issues that if these new homeowners had
more time to run the numbers and identify how much home they truly needed, they
may have been able to avoid.


4. GET A MORE ACCURATE VIEW OF THE HOME

Take a look at the photos of almost any home listing, and you’ll notice that the
sky is blue and the plants are in full bloom. There’s a reason for that. Home
sellers are putting their home in the best light to sell them. And the same is
true when you go and see the home during a sunny spring or summer day. 

When you see the home during the fall, you may get a chance to get a more
accurate view of the home. You could see how the yard looks when the flowers
aren’t blooming and the leaves have fallen off the trees. You may be able to see
deficiencies in the home that the landscaping was covering during the summer. 

And you’ll also get to see how the neighborhood feels. During the summer, kids
aren’t in school, and families are leaving for vacation. It’s the least “normal”
time of year. But fall will give you a sense of your new surroundings for the
majority of the year.


5. MORE ATTENTION FROM AGENTS, APPRAISERS, LOAN OFFICERS AND OTHERS

One unfortunate fallout from the crazy market of this past year is how stretched
thin real estate professionals were. And not just agents; we saw purchase
slowdowns because there weren’t enough hours in the day for the appraisers to
visit all the houses that needed to be appraised.

But with fewer sales happening in the fall, you’ll have more of your agent’s and
loan officer’s time and attention, and appraisers are more likely to be able to
see your home sooner. 


6. FLEXIBILITY ON MOVING DATES

You can’t always choose your moving date, but when you’re in a heated
competition with other buyers during the spring, that becomes a heated point in
the negotiations. The seller may choose another offer because that buyer’s
move-in date lined up better with their moving-out plans. Everything becomes a
negotiation tactic in a seller’s market.

No such worries in the fall. Because the seller could be more motivated, they’ll
likely be more flexible on things like the move-in date. It doesn’t hurt to ask.


7. MORE WORKMEN AVAILABLE

As you go through open houses, are you keeping a mental list of the upgrades the
place will need? Well, you’ll need a little luck finding the workmen to do that
during the busy spring and summer seasons. A lot of renovation projects happen
in just-purchased homes, and they’re not all of the whole-home, fixer-upper
variety. 

Work for the tradesman, contractors, handymen (even movers) you’ll need tends to
slow up during the fall and into the winter. Meaning you won’t have to wait as
long to make your new home your dream home once you move in.


8. PUT YOUR NEW FURNITURE NEEDS ON YOUR WISH LIST

One nice thing about buying a home in the fall is that it’s almost holiday
season. Your new home has new spaces for you to decorate and spots for new
furniture, and those are great items to put on your holiday wish list. Maybe
grandma is willing to spring for that new dining room table you’ve got your eye
on? 

The flip side of this is that you may have hopes to be completely moved in by
the time the holidays arrive. If you’re waiting for furniture to arrive via
Santa or some other holiday gift-giver, your home may not feel finished. This
can add to the stress of moving and of the holidays, but keep in mind; it’s just
one holiday season.

You can see that the spring has an undeserved reputation as being the best time
to buy a home. The truth is that every season has its own benefits, and it’s
incredibly difficult to time the purchase of something as major as a home
purchase or a move. 

The good news is, if you’re able to wait a few months, and don’t need to be
settled in time for fall activities, waiting until the fall can offer you some
big benefits.

Powered by Froala Editor

Disclaimer

Applicant subject to credit and underwriting approval. Not all applicants will
be approved for financing. Receipt of application does not represent an approval
for financing or interest rate guarantee. Restrictions may apply, contact
Guaranteed Rate for current rates and for more information. All information
provided in this publication is for informational and educational purposes only,
and in no way is any of the content contained herein to be construed as
financial, investment, or legal advice or instruction. Guaranteed Rate, Inc.
does not guarantee the quality, accuracy, completeness or timelines of the
information in this publication. While efforts are made to verify the
information provided, the information should not be assumed to be error free.
Some information in the publication may have been provided by third parties and
has not necessarily been verified by Guaranteed Rate, Inc. Guaranteed Rate, Inc.
its affiliates and subsidiaries do not assume any liability for the information
contained herein, be it direct, indirect, consequential, special, or exemplary,
or other damages whatsoever and howsoever caused, arising out of or in
connection with the use of this publication or in reliance on the information,
including any personal or pecuniary loss, whether the action is in contract,
tort (including negligence) or other tortious action. Guaranteed Rate does not
provide tax advice. Please contact your tax adviser for any tax related
questions.


RELATED

How long does it take to buy a house?
By Jeff Keleher on Sep 7, 2021
What is ownership interest in a property?
By David Insley on Sep 3, 2021
BACK TO TOP
Go to GuaranteedRate – Digital Mortgage Company homepage
 * Press
 * Branch Locations
 * Customer Reviews
 * Contact Us
 * Careers

FOLLOW US ON
 * Visit us on Facebook
 * Visit us on Twitter
 * Visit us on LinkedIn
 * Visit us on YouTube
 * Visit us on Instagram

 * Press
 * Branch Locations
 * Customer Reviews
 * Contact Us
 * Careers

Go to GuaranteedRate – Digital Mortgage Company homepage
 * Find a Loan Expert
 * Licensing
 * Site Map
 * Terms of Use
 * Privacy Policies
 * Accessibility
 * SMS Terms
 * Insurance
 * Notice to Vendors
 * Personal Loans

Copyright © 2000-2021 Guaranteed Rate. All rights reserved.
NMLS License #2611 Arizona Mortgage Banker License #0907078 3940 N. Ravenswood
Chicago, IL 60613 - (866) 934-7283 The company name, Guaranteed Rate, should not
suggest to a consumer that Guaranteed Rate provides an interest rate guarantee
prior to an interest rate lock.
 * NMLS Consumer Access
 * Texas Consumers: How to File a Complaint
 * Delaware Licensed Loan Officers

Heather Romine NMLS ID:445705; NM - Licensed, TX - Licensed
(575) 430-3171