When it’s fall, it’s time to rise! Fall is the season of major changes – kids are back to school, the climate makes a change with cooler temperatures, and football fever is on a high rise. Over the years, the fall season has also become to buy a home.
According to MarketWatch, starter homes inventory makes for an attractive solution for home buyers, specifically, lower prices, during the fall. Here are five reasons why fall can be a great time for home buying!
By HomeLight Homes
5 Benefits of Buying a Home In The Fall
- Fewer Buyers, Less Competition
Spring is the most popular time to buy or sell homes. As such, most people begin listing their homes from March to July, which further means a lot of homes will be bought by the end of the summer months. So, when the fall season arrives, most people who are looking for a home have likely found their ideal residential property. So, the number of people competing to buy the same home will be fewer. So, buying in the season will give you more opportunities and less competition.
- Get More Attention
Selling a home involves several agencies and service providers, including real estate agents, property appraisals, mortgage lenders, property insurance agents, closing attorneys, and surveyors.
During the spring and summer months, when competition is fierce, these people become busy. They may not be able to cater to all or provide enough attention to everyone.
Well, this isn’t the case in the fall, though. With fewer transactions, you will be able to easily connect with your real estate agent and lender to get your doubts cleared. Also, scheduling appointments with various authorities will be a bit easier during the fall for various purposes.
- Better Deals
Typically, home sellers sell their properties at the beginning of spring. By the end of summer, the price begins to fall down as no bargain is yet stuck with a seller. After Labour Day, sellers begin to feel concerned about their properties not being sold. So, by October, it’s easier to find sellers who are eager to negotiate a good deal.
- Pending Holidays Can Be Favorable
Fall holidays are the times when many people enjoy decorating their homes. Lucrative Halloween decorations, vibrant Thanksgiving arrangements, and getting a home ready for Christmas are essential to many people. In this case, you can find sellers who are willing to take lower prices if you ensure them to buy their home soon and allow them to decorate their new home. Plus, you will be moving to your NEW home during the holiday season.
- Affordable Pricing in The Fall
It’s a fact that homes sold in the autumn months are usually cheaper compared to the property prices in other months, especially Summer and Spring. In fact, a study conducted by RealtyTrac revealed that out of 32 million homes sold over a span of 15 years, the average price of a home bought in October was 2.6% lower than the anticipated market value. Isn’t it amazing!
- Moving-Friendly Weather
Imagine yourself carrying your kids and pets and moving in three feet of snow or 35-degrees weather! Got chills? Nobody would want to do this. On the contrary, moderate temperatures of fall keep you happy when packing up the moving van.
Did you ever try moving at the end of a Summer month? Moving companies need to be booked way ahead of time. Also, the hot weather can slow their work, adding to your moving costs.
- Tax Breaks Can Aid for Next Year
Homeowners have to pay property taxes and interest on a mortgage. This amount may be used as deductions on your annual tax return. This is because the tax amount paid when a home is bought may be large. This can aid offset taxes for the next year.
There are several other benefits of buying a home in the Fall. We hope these benefits will be enough to convince you to buy a home in the fall months. With fewer competitors, lower prices, tax breaks, and more in-person attention from agents, the fall is an ideal time for you to purchase a home. So, get ready to close the deal with zero hassle!