Rainy open houses and hail can make shopping for a home during the colder months far less thrilling than during the spring and summer months. But that doesn’t mean the hunt to buy a home during the off-season doesn’t have its advantages.
If you aim to purchase a home in the next few months, you may be wondering what you can expect from the real estate market this fall. The strategies you have for house hunting during the summer months won’t serve you well this season.
That said, here’s how you can adjust your thinking to the real estate realities of fall and winter.- Keep in mind there will be fewer options. Although the real estate market is starting to tip back into the buyer’s favor, there’s still a low supply of homes in the U.S. and an even lower supply during the fall and winter months. Keep an open mind when it comes to what your dream home looks like if determined to buy a home this season.
- You’ll have less competition. Many potential homebuyers will temporarily call it quits during the chillier seasons. This means you’ll have less competition to deal with and you won’t have to feel intimidated by crowded open houses. In some cases, you may even be able to schedule more than one viewing this season which isn’t always the case during the summer.
- You won’t be able to tick off every box on the home inspection list. It can be tricky to get a good home inspection during the colder months, even in Texas. Air conditioning can’t be tested in cold weather and it can be challenging to determine whether the trees are dormant or dead. Be aware of these inspection gaps and try to fill them by asking the ages of appliances.