It’s no secret that spring and summer months are known as being the best time period to purchase or invest in real estate. However, fall might just be the newest ideal season to buy a house. If you’re skeptical, we get it. There are less families with the intentions of moving in after the start of the school year. If you are a cynic, here are 7 reasons why buying a home in the fall may be a better choice.
- Less Competitive Market
In the fall, the competition for home buying drops considerably. Because of this, many view Autumn as a sort of offseason for buying and selling real estate. However, what people look past, is there are still quality homes for sale. Often times, there is just as many options as were shown in the warmer seasons.
- Agents and Owners Are Tired
In many cases, sellers list their homes in the spring and summer months well over what buyers at the time were open to spending. Although it is “prime time,” after several months of no hits, sellers are tired, and aching to come to a deal allowing you the ability to cash in.
- Motive to Move, Fast
Contrary to popular belief, fall inventory is not always the leftovers from the warmer months. Selling in the fall can often be a necessity. Whether it be a new house being built that is now finished, or a new job opportunity that requires a move, these sellers are serious, and they want to move fast. This is good news for prospective home buyers. Considering their motives, often times fall sellers are much more open to negotiating, weighing, and accepting a more reasonable offer.
- Tax Breaks Can Be Your Friend
Unfortunately, there is no escaping the wrath that is income tax. However, for first time homebuyers, you can make a reduction in your taxes when you first become a home owner. Both mortgage interest, and your property tax, are eligible for deduction on your annual income. In addition, payments that are completed before the end of a loan will become tax deductible as well. All in all, this can take a serious bite out of how much you will have to pay the government.
- Safety Levels Are Higher in Fall
Just like weddings, and yes, real estate, burglars and crime has peak seasons each year. In general, the late summer months are prime opportunities for crime and theft. By sticking around until fall to make a decision on a home, you have a chance to learn more about your potential home and the neighborhood you will be living in. Checking crime rates with local areas is an essential step prior to home buying.
- The Spotlight’s on You
With real estate’s peak seasons being late spring and summer, agencies are much busier during these months. As a result, your home may not get as much top treatment. This also carries over to other home service providers, not just real estate agents. Title companies, as well as mortgage lenders will often respond much quicker, and be able to help you most effectively in the fall. Moving? You’ll also find that you will undergo an easier process while transitioning in the fall. Moving companies and similar providers have more free time, which allows them to focus more attention on you and your needs, not making excuses for delays.
If you are looking to purchase a home, please contact Global Realty. We look forward to assisting you.