For those willing to face the drawbacks of a cold weather move over the holiday season, buying a new home in the fall can offer great deals and financial rewards. Be prepared for some hard work and hustling, but enjoy the opportunities provided by purchasing a new house during the autumn months.
House Prices Lowest in Fall and Winter
While house inventory is somewhat lower in the fall, according to data from Investmenttools.com home prices tend to be lower in the fall than in the peak summer home-buying season. The “Average Real Estate Price by Month” graph shows a drop in home price from August through January, making fall one of the best times of year to get a bargain on your new home. Sellers may be more willing to deal to get a quick sale before the rush of the winter holidays. Use this to your advantage to negotiate a lower price, more flexible settlement and moving dates, and any other concessions you’d like.
Home Inspection Before Purchase is Essential
A thorough and reliable home inspection before purchase is essential when buying a house in the fall. The season of rains, storms and freezing temperatures may play havoc on a roof in need of repair, causing untold damage to the interior of your new home. Emergency heating system repairs are costly and unpleasant. Gutters, downspouts, and flashing all need a going-over to ensure the new house is sound enough to pass through winter unscathed.
Autumn Home Renovation Deals
Immediate renovations are often at the top of the list for a home buyer. Many home improvement companies have a lower workload in the autumn, and are more available for jobs and willing to offer lower prices on repairs and renovations needed for the new home. A lower workload may also mean that projects at your newly bought house may be completed more quickly, as work teams can focus on your home rather than multiple job sites. Do be aware that some renovations are more challenging in poor weather, such as roof repairs. Exterior painting is also risky in cooler temperatures, as the paint may not properly set. Such projects may need to be postponed until the spring.
A Fall Move into Your New Home
Buying a home in the fall means moving in the fall and winter, over holiday season. Preparing carefully to work around crazy holiday schedules and traffic, packing needed clothing and holiday items separately, and providing extra support for the kids all need to be considered. Avoid scheduling settlement or the moving day for the day before or after a major holiday.
For those willing to do a little preparation and face the uncertainties of bad weather, an autumn house purchase is a chance to get a great bargain.
“Real Estate,” Investmenttools.com