Why This Fall Maybe a Great Time To Buy Your First Home

Photo taken by Diana Walton- Houston First Time Home Buyer Specialist

Hello and welcome to Houston First Time Home Buyers Edition, formally First Home Houston (FHH), where we provide useful information to help Houston first time home buyers make the most informed decision when it comes to buying, decorating, and maintaining their first home. This October may really be the best time to buy your first home and get a great deal in the process. Here is why:

• Prices are balancing out.

• Lower interest rates.

• Builders tend to offer more incentives to end of year buyers.

• You also have less competition.

• Home sellers that list in the fall do so because they need to sell.

• You may have more negotiating power. With people needing to sell and less competition, this may put you in the driver’s seat.

• The pre-holiday season may put pressure on sellers to close fast.

• You may also be able to write off some closing costs, mortgage interest and property tax payment.

As expected, the Federal Reserve did cut rates on September 18 2024, by a hefty half percentage point. This was their first rate cut in 4 years. What does this mean for home buyers that have been waiting for rates to drop? It means they can now begin their first time home buying process.

As always, thank you so much for stopping by. Remember, if you are thinking of purchasing your first home, please contact us. We are here to help. We have been helping Houston first time home buyers since 2011 and we can help you. I hope you have an amazing day. Until next time...Diana