Why This Fall Could Be the Perfect Time for Home Buying

Although spring and summer are known as home-buying seasons, fall also has its share of advantages. There are a few reasons why fall this year could be the perfect time to buy.

1. Less Competition Gives Buyers Greater Leverage

Earlier in the year, there may have been too much competition, leading other buyers to outbid you. In the fall, many buyers stop looking until next year, which means you have fewer offers to compete with. There may also be great deals for you to snap up, such as if a seller overpriced a house during the summer and has now dropped the asking price.

2. Sellers Are More Motivated

With fewer buyers comes less inventory — but this is not necessarily a bad thing. The homes that stay on the market are from the most motivated sellers who want to close a deal before the year ends. Such sellers may be more willing to make concessions to avoid needing to move in the winter.

3. Flexible Moving Dates

One thing sellers may be willing to compromise on is moving dates. This means you can pick dates that are convenient for you. Many families with children are concerned about moving in the fall because they need to fit the move around their kids’ school schedule. In fact, flexible moving dates could mean this is a non-issue.

4. Mortgage Rates Are Stabilizing

Something specific to fall this year is that fixed-rate mortgages are becoming less volatile. This makes budgeting for a home much easier.

It’s possible that mortgage rates are on their way back up or about to drop. Either way, though, now is a good time to buy. If mortgage rates increase again after fall, you’ll have locked in a lower rate. If they start to drop, you can refinance — you’ll still have benefited from buying while the competition is low, which will likely mean you secure a good deal.

5. The Chance to Take Your Time

Home buying can be stressful due to the need to act fast and quickly come to a decision. If you know a home you’re interested in is unlikely to be receiving many other offers, you can take your time to think about whether it’s right for you.

6. Unobstructed Views of the Exterior

Landscaping may look beautiful in the summer, but this can make it difficult to gain a proper picture of the exterior of the home. During the fall, there are less obstructions — but you’ll still gain a better idea of how attractive the landscaping is likely to be than during the winter when many plants have lost their leaves and flowers.

You’re more likely to be successful in your search for a home if you work with professionals in real estate. Fort Saskatchewan homebuyers can count on the team at Damon Bunting real estate group. We’ll match you with properties that are within your budget, have all the features you need, and are located in a desirable neighbourhood. Contact us to learn more about buying with us.