Everyone wants to own a home. With the falling economy and rising inflation, it becomes difficult to save money to buy a home. Even if you have the required money, is it possible to get your dream home? Yes! It is. With a little prudence, you can select the right time to buy a home. Many real estate agents say that the Fall is the right time to buy a residential home. In this article let us discuss how Fall home buying can benefit you.

There is a mild chill in the air. Leaves are changing colors. Fall is fast approaching and as a residential home buyer, you have to analyze the benefits of buying a home in this season. This Fall can turn out to be an attractive time to buy a residential home.

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Here are some Fall benefits:

  • Historically low mortgage rates: Although the mortgage rates have risen a little from what they were in March and April, it is still historically low as compared to what it was 20 to 30 years back. A 30-year market survey of mortgage rates has shown that mortgage rates were 18% in 1983 and have come down to 3% to 4% in 2013. Some of the real estate agents feel that you may not get this good opportunity next year.
  • Buyers are fewer, so less competition: There is a slowdown in real estate buying during Fall because many buyers do not prefer shifting to a new locality. They would have put their children in school and would not like to pull them out of school and disturb their routine. If you are a home buyer, you will find less competition and you stand a better chance of getting a home of your choice.