Fall can be an ideal time to buy a home. As the weather cools, several built-in advantages come into play. For starters, there is simply less competition. People tend to pull back on house hunting this time of year, not wanting to battle the elements to view open houses and the like. Additionally, there tends to be a bigger inventory of available homes this time of the year.
That’s just the beginning of the advantages that comes with buying a home in the fall. The variable weather of the fall can give you a complete picture of what the home’s like during both hot and cool times. And finally, many homes on the market during the fall months were likely renovated and repaired during the summer, so they will be in their best condition.
So those are some of the advantages of buying a home in the fall. However, there are some things that are easy to overlook now, but could pose problems come the spring and summer. For example, the air conditioner isn’t likely to be powered up this time of year. Be sure to check that it works properly or you’ll be paying for it later.
What about the surrounding environment? Construction typically slows down this time of year, so you may not get a clear picture of what will be happening during the warm months. Are there surrounding vacant lots poised for a build-out? Are there any city street projects planned for next year? Any of those could turn what seems like a nice, peaceful neighborhood into something else entirely.
Finally, don’t forget you could receive incentives the later in the year it gets. Most builders, for example, will want to unload homes before Dec. 31 for tax purposes and are likely to offer perks to get you to pull the trigger.
This really is an excellent time of the year to get in the market for a home. Just don’t forget to check on the little things that may not be of particular importance in the fall, but will be later.