Traditionally, home listing and buying season starts in the Spring and Summer. It’s not hard to see why: lawns are green, flowers are in bloom, and homes and neighborhoods tend to look their best. As the weather cools, so do the markets – which means the savvy buyer may find the right home for the perfect price just as the leaves turn. Here’s just a few reasons why buying your home in the Fall may be the best move you can make for your family.
It’s true that after the flurry of sales in Spring and Summer, the supply of homes is lower in the Fall. But demand is also down. If you go to open houses in the Fall, you’re going to see fewer other buyers to compete with – which is good for you. With a little patience and perseverance, you’re less likely to enter into a situation with multiple offers, and more likely to find a new home that exceeds your expectations.
Thanks to the chaos of the Spring and Summer real estate seasons, the availability of even the most dedicated real estate professionals can be heavily taxed. When there’s fewer buyers in the market, everyone on your real estate team has more time to communicate with you about any questions you may have about certain neighborhoods, homes that are available, school districts, and more.
Chances are, if a home’s still on the market in the Fall, it’s been there for a while now – and the sellers are anxious to move on with their lives as soon as possible. While homes list high in the Spring and Summer, by fall those prices have often been reduced, and sellers may be that much more willing to accept your offer.
Buying a house near the end of the calendar year is a savvy move. While having something to show your accountant shouldn’t be the primary reason you buy when you do, closing by year’s end may net you some tax deductions. Closing costs, property tax, and mortgage interest can have an impact on your income tax refund or liability. Be sure to check with a professional tax or legal advisor before making any tax or legal-related decisions.
If you need any extra incentives, here’s a few more: paint and carpeting are typically cheapest to buy in the Fall, according to Consumer Reports. Major appliances, cookware and TVs are also typically cheapest to buy in December. So, once you’ve bought your Fall home and settle in, you’re well positioned to create exactly the home you want for less.
Have any questions about buying a new home in the Fall? Contact one of our local, caring mortgage professionals at a Mortgage Center Near You.