- 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 in some cases, there’s just as much inventory as there was during the spring and summer.
Many sellers are very motivated to sell before the holidays. If possible, buyers should let these sellers know that they can close before Thanksgiving or before the school winter break.
- 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. Maybe they need to move because of a job.
4. Take Advantage of Tax Breaks
First-time homebuyers, take note: 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, ask your tax adviser, lawyer, or personal finance expert for details.
5. 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.
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. Service providers, such as mortgage lenders and title companies, are moving out of the summertime sales swamp and can often respond more quickly. The same goes for movers, and inspectors as well. The probability of experiencing a delay goes way down in the fall season.
7. Take Advantage of End-of-Year Sales
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. Wouldn’t it be great to coordinate your home purchase with sales on items you’ll need?