16 Oct 5 Reasons Why Fall Is The Best Season For Home Buying
Haunted houses aren’t the only residences open this season. If you can take a break from pumpkin patches and costumes, autumn can be the perfect time to purchase a new home. According to a study by RealtyTrac, buyers receive the best deals on houses in October. Do the hues of orange and yellow cast a more appealing light on a for sale sign, or is there more at play? Take the guessing out of home-buying and consider these five reasons why you should purchase a new house in the fall.
Low inventory
Less available homes mean you can easily narrow down your search. This is especially helpful if you are looking for homes in a large city where it’s easy to get overwhelmed. If a house hasn’t sold all year, sellers are highly motivated to move inventory before the start of the next year. But don’t think that the only houses left over are rejects. You can’t always predict when you’ll need to put your house on the market, which means that new homes are constantly listed. Serious sellers are a boon to home buyers, since houses may sell faster and at a cheaper rate.
Reduced risk of home invasion
Since most home invasions take place between July and August, you can miss burglary season and research the safety of the neighborhood you’re interested in moving into. Buying a home at the end of the year also gives you a chance to install alarms and other security equipment into your home before the next spike in crime.
Flexible move-in dates
Those who move in during the peak spring and summer seasons often encounter irritating delays. Since you’re purchasing your home during the off-season, it’s easier to negotiate extended occupancy dates or delayed closings. Moving companies are also less busy, which means they can operate on your schedule.
Tax loopholes
Although your income taxes are unavoidable, you can deduct your mortgage interest and property tax from your entire year’s income regardless of when you purchased your home. This allows you to keep more of the income you’ve earned while still enjoying the benefits of homeownership. To save even more money, consider shopping the end-of-year sales to decorate or remodel your beautiful new home.
Potentially less competition
Lots of families search for houses during the summer, before school starts. Cold weather, less sunlight, and rainy days may convince a less-determined house hunter to stay indoors and wait for spring. Since real estate agents have fewer clients during the fall season, they can give you personalized attention. Buyers have greater negotiating leverage in an open market. Keep in mind that homes in Florida or other winter retreats may experience peak season during the fall.
Interested in putting down a down payment on a house or taking out a mortgage? We offer economical advantages for your next home purchase. Read more here and chat with a representative at (843) 549-2265.
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