It’s well-known that spring and summer are considered the best time to buy a home. Fall often gets overlooked, and many potential home buyers think that this time of year is all about the holidays. While it’s true that holidays are just around the corner, the best of all about this season is the ability to claim a great deal on a home. That’s because those who buy a home in the fall can take advantage of many factors in their favor.
Here’s why it’s good to buy a home in the fall:
During the fall, a lot of buyer prospects opt to wait for spring and busy themselves with the holidays, while others have already found their dream home and others with kids are less likely to be in the market. There are fewer people interested in house hunting during the fall, which results in less competition. With this being said, there is less chance for a bidding war or another buyer snatching up a house you like.
Sellers are serious
Sellers that put their homes on the market in the fall tend to be serious. Maybe they were having a home built, and it’s now ready. Maybe they need to move because of a job. That means sellers could be more open to negotiating and accepting a lower offer. And those sellers who have their property sit the entire summer are now eager to make a deal which makes more negotiating power for the buyer. Homebuyers can take advantage of the lower-priced home as sellers with homes languishing on the market are likely to reduce their home prices.
If you are a first time home buyer, you can take advantage of tax breaks. Although income tax is unavoidable, you can make a dent in what you owe when you become a homeowner. Property tax and mortgage interest are both deductibles even if you closed on your home in December. This can make a serious difference in the amount you owe the government at the end of the year.
Take advantage of End-of-Year Sales
Buying a home in the fall may help you save money beyond just the sales price of the home. Many home upgrades and improvements are at their lowest in the fall and won’t be as costly. Whether its a contractor with lower rates during the slow season or a big holiday sale at a big box appliance store there are lots of saving to be found during this time of year.