7 Reasons to Buy a House in the Fall
Fall may be the new ideal season to buy a home. Here's why:
1. There’s less competition
Competition for houses drops off in the fall, a time many people consider to be off-season in real estate. This puts you in a great position to negotiate.
2. Sellers are worn-out
Some sellers who put their homes on the market during the prime selling times of spring and summer might have been a tad overconfident by listing their homes for more than buyers were willing to spend. After months of no action, these sellers are
often ready to make a deal.
3. Sellers are serious
Not all homes on the market in fall are summer leftovers. Some people need to sell in the fall because the timing is right. Maybe they were having a home built, and it’s now ready. Or maybe they need to move because of a job.
4. You can take advantage of tax breaks
Although you can’t escape paying income tax, you can make a dent in what you owe when you become a homeowner. Any payments that are made prior to the closing of the loan are tax-deductible. This can make a serious difference in the amount you owe
the government at the end of the year.
5. Fall is a safer time of year
According to a home safety expert for SafeWise.com, “July and August are prime months for burglaries to take place. Waiting until the fall [to buy] gives you an advantage when learning about a home and the neighborhood.” You’ll be settled in your
home and can take precautions.
6. You’re the center of attention
Because spring and summer are ideal times to buy a home, real estate agents are usually busier then. And that could mean you might not always get the attention you want. This is also true for other professionals you’re working with to buy a house:
mortgage lenders, title companies, even movers! The probability of experiencing a delay goes way down in the fall season.
7. You can take advantage of end-of-year sales to outfit your home
There are bound to be improvements you’ll want to make after buying a house. You’ll also probably need to buy items to maintain your home. October means lawn mowers go on sale, and appliances and cookware are cheaper in November.