While it’s never a bad time to purchase a home if you – and your finances – are ready for it, late spring and fall are premium times to embark on the homebuying path. If you have been thinking about becoming a first-time homebuyer or you already own and want to scale either up or back, here are some smart reasons to do it now.

Lots of Inventory

Many buyers put their homes on the market in spring and summer, and lots of them are still available into fall. If you decide to buy a home in late summer or fall, depending on the area you want to live and your budget, you will most likely enjoy your pick of numerous homes. This helps in snagging the “must haves” on your list and lessens the chance of you having to settle.

Fewer Homebuyers

Another reason why late summer or fall is the best time to buy a house is that you will probably have less competition vying for the same property. Since most people try to buy in the summer months, they are already in their new home. Dealing with less competition frees you up to ask for bigger concessions, like repair work or updates, and increases your chances of getting a better deal. Buying in the late summer or fall can literally save you thousands of dollars.

Sellers Are More Motivated

Homebuying is all about supply and demand. If there are fewer buyers, as mentioned above, the sellers may end up waiting longer for an offer on their home. Sitting on a house can keep them from getting on with their lives and moving where they want to live. In addition, if the seller has children, they will most likely want to get them settled into a new residence before school starts. All these things add up to an advantage for buyers who are shopping in late summer or fall. The seller will be more likely to negotiate quickly and be more agreeable to the buyer’s requests than if they had sold their home during the spring or summer months.

Weather is Mild

Unless you plan on homebuying in the northern part of the country, late summer and fall offer warm temperatures, little rain, and no chance of snow. Good weather makes it easier to get out and look for a home, and it gives buyers ample opportunity to check out the home’s outdoor condition and amenities, like decks and porches. You can also see if large trees block good views, and if the landscape is overgrown. Moving during this time is more pleasant, too, since it’s neither blazing hot nor cold and snowy.

Before you decide to throw your hat into the homebuying process, no matter the season, make sure you and your family are ready to handle the responsibility of homeownership. Some things to do beforehand are:

Look at your credit report. Pull a report from AnnualCreditReport.com , a website sponsored by the three credit bureaus. Don’t worry about your score at this point. Review every line and make sure it’s all accurate. If there are errors, such as accounts that aren’t yours or late payments when you were never late, dispute them with the credit bureaus immediately.

Make a realistic budget. Track your spending and use that data to create a monthly budget. Where and how much money you spend? Cut it where you can, and determine if you can afford the monthly mortgage, taxes, insurance, and repairs that come with owning a home.

Count your savings. Do you have a down payment ready for your new home? If you’re a first-time homebuyer, you may qualify for an FHA loan that requires only a small amount down. But you must still be ready to come up with several thousand dollars.

Talk to a mortgage originator. Find a reputable mortgage originator who is experienced and helpful. He or she can walk you through your loan options and guide you toward the best decision.

Get pre-approved. Ask your mortgage originator to pull your credit and look at your loan application. If you can get pre-approved for a loan, you’ll enjoy stronger bargaining power during your homebuying negotiations.

Don’t assume that your best time to buy a house has passed you by along with the Fourth of July. There are some great benefits to purchasing a house in late summer or fall. Get out there and take advantage of them!