Is Buying a Home in Fall a Good Idea?

Home Blog Is Buying a Home in Fall a Good Idea?

Posted On: September 1, 2025 by Peoples Bank of Kankakee County in: Home Mortgages Seasonal

Buying a home is one of the biggest financial decisions you’ll ever make, and timing can play a key role in your experience. As the leaves start to change and fall settles in, many potential buyers begin to wonder: Is buying a home in fall really a good idea?

The truth is, there are advantages to buying a home in the fall. Especially if you know what to look for. Let’s explore why this season may offer opportunities, along with a few fall homebuying tips to help you feel confident in your decision.

1. Interest Rates and Market Trends

Mortgage interest rates can shift throughout the year, and fall is often a time when buyers and lenders are keeping a close eye on trends. Even small changes in rates can impact your monthly payment and total cost over the life of the loan. If rates are dipping, it may be a great time to lock in a mortgage and take advantage of potential savings.

2. Seasonal Housing Inventory

Spring and summer are traditionally the busiest seasons for homebuying, meaning the market can feel competitive and fast-paced. By mid-fall, many buyers have already settled into their new homes, which often leaves fewer shoppers competing for available properties. While inventory may be smaller in the fall, motivated sellers can make for a smoother transaction and sometimes better pricing.

3. Motivated Sellers and Negotiation Power

Homeowners who list in the fall are often serious about selling—whether they’re relocating before the holidays, downsizing, or preparing for the new year. This can create opportunities for buyers to negotiate on price, closing costs, or move-in timelines. If you’ve been waiting for the right moment to make an offer, fall could provide the balance of motivated sellers and fewer competing buyers.

4. The Advantage of Pre-Approval

One of the most important fall homebuying tips is to get pre-approved for a mortgage before you begin house hunting. Pre-approval not only helps you understand your budget but also shows sellers you’re a serious and qualified buyer. At Peoples Bank, our knowledgeable mortgage lenders are here to guide you through the process with personal attention and quick local decisions - so you can shop for your new home with confidence.

5. Looking Ahead: Buy Now, Celebrate Later

Purchasing a home in the fall means you may be settled in time to enjoy the holidays in your new space. Whether it’s hosting family gatherings, decorating your first front porch for Halloween, or simply cozying up as the weather cools, buying in fall can set you up for lasting memories by year’s end!

Final Thoughts

If you’re asking yourself, “Should I buy a house this fall?” - the answer lies in your personal goals, the current market, and your financial readiness. With interest rate changes, motivated sellers, and the right guidance, fall can be a great time to take the leap into homeownership.

Peoples Bank is here to help with friendly, knowledgeable mortgage lenders who put your goals first. When you’re ready, we’ll walk with you through every step of the process!

An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. We can cover your overdrafts in two different ways:

We have standard overdraft practices that are available after your account has been open for 30 days and as long as you maintain your account in good standing.
We also offer an overdraft protection plan, Overdraft Protection Sweep, a link to a savings account. It may be less expensive than our standard overdraft practices. To learn more, ask us about this plan.

This notice explains our standard overdraft practices.

What are the standard overdraft practices that come with my account?

After your account has been open for 30 days and as long as you maintain your account in good standing, we do authorize and pay overdrafts for the following types of transactions:

Checks and other transactions made using your checking account number
Automatic bill payments

We do not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below):

ATM transactions
Everyday debit card transactions

We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction.

If we do not authorize and pay an overdraft, your transaction will be declined.

What fees will I be charged if Peoples Bank of Kankakee County pays my overdraft?

Under our standard overdraft practices:

We will charge you a fee of up to $30 each time we pay an overdraft.
The maximum daily overdraft fee per presentment or item paid using the Overdraft Reserve Program is $150.00 per day.
No per item handling fee will be charged on de minimis overdrafts. De minimis overdraft for this policy means transactions that overdraw your account by $30 or less.
There is an overdraft fee of $5 per day that will be charged beginning the 4th consecutive business day your account is overdrawn.

Nonsufficient funds (NSF) fees - if an item drafted by you (such as a check) or a transaction you set up (such as a preauthorized transfer) is presented for payment in an amount that is more than the amount of money in your account and we decide not to pay the item or transaction, you agree that we can charge you an NSF fee for returning the payment. Be aware that such an item or payment may be presented multiple times by the merchant or other payee until it is paid, and that we do not monitor or control the number of times a transaction is presented for payment. You agree that we may charge you an NSF fee each time a payment is presented if the amount of money in your account is not sufficient to cover the payment, regardless of the number of times the payment is presented.

PAYMENT ORDER OF ITEMS - The law permits us to pay items drawn on your account in any order (for purposes of this section "items" means checks, orders and electronic transactions). To assist you in handling your account with us, we are providing you with the following information regarding how we process those items. When processing checks and orders drawn on your account our policy is to pay lower numbered checks and orders in numerical sequence, but electronic transactions are paid first in the order received. The order in which items are paid is important if there is not enough money in your account to pay all of the items that are presented. There is no policy that is favorable in every instance. If the smallest items are paid first, you may have fewer NSF or overdraft fees, but the largest, and perhaps more important items (such as rent or mortgage payments) might not be paid. However, if the largest items are paid first, your most important items might be paid but it may increase the overdraft or NSF fees if funds are not available to pay all of the items. We think our policy attains a reasonable balance between minimizing additional costs to you and paying your more important items. We encourage you to make careful records and practice good account management. This will help you to avoid creating items without sufficient funds and incurring the resulting fees.

What if I want Peoples Bank of Kankakee County to authorize and pay overdrafts on my ATM and everyday debit card transactions?

If you also want us to authorize and pay overdrafts on ATM and everyday debit card transactions after your account has been open for 30 days, you may opt in.

You have an ongoing right to change this consent at any time. If your overdraft privilege has been revoked for any reason, the opt-in or opt-out selection may not apply. Please contact your nearest office for more information.

Alternate ways to Opt In/Out or make changes:

By Phone. Our Customer Care Representatives can be reached at 815-936-7600.
By Mail. Peoples Bank of Kankakee County, 333 E. Court Street, Kankakee, IL 60901
In Person. Please visit your local office and ask a representative to help you decide which plan is best for you.