5 Reasons Why The Fall Is The Best Time To Buy A Home
Fall in New England is one of the most beautiful times of the year! Everyone is enjoying apple picking, trips to the pumpkin patch, hikes up in our gorgeous mountains, and gathering with family & friends around the table for the holidays. Most people aren’t thinking about buying a home, but they should be! Fall might not be known as the popular time to purchase a home, however, there are many reason why purchasing a home in the Fall is the PERFECT time! Here are our top 5!
- Less Competition:
The Spring is known as the “hot” time to buy or sell a home, so come Fall there are less buyers in the market for a new home, however, this does NOT necessarily mean that there are less homes on the market. There are fresh listings available and there are also homes that were previously listed during the Spring, that didn’t sell, who have motivated sellers! This is great news for you, especially if you want to get into your new home before the holidays!
2. Sellers are MOTIVATED!
Sellers who have re-listed their property at a more aggressive price are READY TO SELL! They are worn out from the selling process, which makes them willing to negotiate on price and closing date since they won’t want to wait for Spring to come around again to sell their home. Also, sellers who have their houses on the market for the first time in the Fall are serious about selling since they most likely have to move quickly for one reason or another. Maybe their new construction home is ready to move in to, or they have to relocate for a job, or they had a major life event occur that they need to sell their home and fast.
3. Taking Advantage of a Tax Break Before the End of the Year:
Now, you shouldn’t buy a home JUST to get a tax break, however, it is one perk to purchasing a home before the end of the year. First-time home buyers especially should take notice because your property tax and mortgage interest are both deductions you can take even if you purchase your home towards the end of the year.
4. You Get to Be the Center of Attention:
There are so many people that are involved in a real estate transaction, from the mortgage broker, to the title company, to the home inspector, the moving company and of course, the real estate agent! Many of these businesses are HOT HOT HOT in the Spring because everyone is all real estate crazy! So if you are one of those buyers purchasing a property in the Fall, you will be able to receive more specialized attention and are more likely to have a smoother transaction and buying process. Who doesn’t like being the center of attention and receiving that EXTRA little personalized service?
5. Lower Cost:
In RealtyTrac’s analysis of more than 32 million home sales over 15 years, they found that on average, Fall buyers paid 2.6% below market value for their home. Who doesn’t love a good deal?! 2.6% might seem like a small percentage, however, if you are purchasing a $300,000, you are saving $7,800!!! You can use that money you save to put back into your home with some new home furnishings or a renovation project. And you will save even more money because we all know the best sales happen around the holidays!
Now that you know why Fall is the perfect time to buy, give us a call! We can help you get into your dream home before the holidays so you can host your family in your beautiful new home!