ADVANTAGES to BUYING a HOME in the FALL
Typically speaking, most homes are purchased in the Spring. This is also when there is the most inventory available—which is realtor speak for more options for home buyers. This does not necessarily translate into the best advantage for the home buyer.
Though there are arguments to support Christmas Day and Easter Sunday as the best days to buy due to the lack of other buyers shopping on those days, you would need to find a real estate agent: a) who is willing to work on those holidays; and b) also comfortable enough to bug a seller on that day. If you don’t have access to that kind of real estate agent what is the next best thing? Buy your new home in the Fall. Here are a few reasons why Fall is an advantageous time to buy a home:
MORE HOMES, FEWER COMPETITORS
One advantage to buying a home in the fall is that there’s more inventory and not as much competition from other buyers. With a larger inventory of properties to choose from, you can expand your criteria to include more amenities and features.
MAINTENANCE CHECK on a RAINY DAY
Almost all homes look and feel great in the Summer time. It’s during the Fall month, when it is cold and rainy that the home really gets tested. Viewing the home on a cool, rainy day allows you to search for drafts and to see whether the gutters are working. Check to see whether the basement is dry, windows stick, and the fireplace is in good working order. Are the leaves raked and bushes trimmed? Another advantage to seeing the home in the fall is that you’ll get a more accurate picture of the maintenance the property will require during the colder months. Just be sure as days get shorter to make time to see homes during the daylight hours for optimum viewing.
GET a PREAPPROVED LOAN
There are two primary benefits to getting pre-approved for a home loan. The first benefit is becoming a better prospective buyer. A seller is going to prefer someone who is already pre-approved for a loan amount than someone who is still negotiating with a lender. The second benefit is knowing your price range. Your pre-approved amount helps you filter your pricing options as you shop around for your perfect home.
Stonebridge Mortgage Group can help you get pre-approved for a mortgage and help with your real estate loans and other mortgage solutions, both residential and commercial. We serve the greater Portland area and are located in Gresham, Oregon.