7 Reasons to Buy in the Fall
- There is less Competition: Competition for houses drops off in the fall, a time many people consider to be off-season in real estate. But there are still homes for sale and there’s just as much inventory as there was during the spring and summer.
- 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.
- 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. Maybe they need to move because of a job. That means sellers could be more open to negotiating and accepting a lower offer.
- 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. “Property tax and mortgage interest are both deductions you can take for your whole years’ worth of income, even if you closed on your home in December. Any payments that are made prior to the closing of the loan are tax-deductible.
- Fall is a safer time of year: Did you know that burglars have peak seasons? 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’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.
- 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, and if appliances weren’t part of the deal, you’ll need those too. September is a great time for buying carpet and paint. October means lawn mowers go on sale, and appliances and cookware are cheaper in November.