Are you looking to buy a new home this season?! For years, there has been a preconceived notion that buyers need to purchase a home before the fall hits and we’re here to tell you why that is not the case!
Check out these 5 reasons to buy a new home this season!
1. Less competition
Since many people consider the fall to be the “off season” in real estate, there is a tendency for people to hold off on buying until the spring/summer months. However, there are still plenty of homes for sale and there is plenty of inventory to choose from! For homes that were listed in the summer and are still on the market, this poses a great opportunity to negotiate the price or find a home that has had a recent price reduction.
2. Sellers are motivated
Although some homes on the market in the fall may be leftover from the prime summer months, other people sell in the fall because the timing is right (whether they were building a new home and it is now ready or need to move for work, etc.). Most sellers are motivated to sell their home before the holidays hit as well. If they plan to host family in their new home, they want to have everything settled and closed before the holidays arrive. Again, when sellers are eager to sell their home as soon as they can, this offers a great opportunity for potential buyers to negotiate the price and attempt to get a better deal (no guarantees, but it’s definitely worth it to try!).
3. Quality time with your agent
Since spring and summer are considered the busier times to buy, real estate agents usually have less time to spend with each client. This can also be true with other professionals you are working with to purchase a home (mortgage loan officers, title agencies, movers, etc). In the fall and winter months, agents have a bit more time to spend with each and every client, meaning more attention for you as the buyer!
4. Holiday deals and discounts
When purchasing a home, there are usually items that buyers plan to get for their new place (whether that be paint, appliances, cookware or electronics). The fall is a great time to move because the quickly approaching holiday season means major deals and sales to come, making it the perfect time to renovate or redecorate. Plus, what’s better than getting those new appliances on sale?!
5. Tax advantages
There’s no escaping paying income tax; however, if you can close on your new home before the year’s end, you’re usually eligible for tax deductions in April. These deductions typically include property tax and mortgage interest. Your accountant can expand further on these details but it’s definitely a benefit of closing on a home in the fall!
We hope that after reading this, if you were on the fence as to whether to start looking to buy this season, that you now realize the benefits of purchasing a new home in the fall!
Thanks for reading and don’t forget to visit our social pages! 🙂