6 Reasons to Buy in the Fall

Blog posted On October 06, 2016

According to research conducted by Realtor.com, fall might actually be a better season to buy a new home.  Traditionally shoppers have considered spring and summer as the first choice seasons for new homebuyers.  Fall and winter bring colder weather and family holidays that deter shoppers from browsing potential new homes.  However, there are some advantages to buying a home during the fall season

1. Lower Home Prices – Statistically, October is the best month to get a good deal on a new home (based on 32 million home sales over the course of 15 years).  October buyers may spend as much as 2.6% less than estimated market value.
2. Less Competition – Other buyers who did not find a new home over the summer tend to drop out of the market after Labor Day. 
3. Negotiable Sellers – Chances are, if a seller keeps their home on the market into the fall they are really trying to sell.  Anyone willing to move between major holidays or in cold weather needs to move sooner rather than later.  The longer a home sits on the market, the more leverage the buyer will have when it comes to negotiating. 
4. Year-end Tax Credits – You can deduct your closing costs, property tax, and mortgage interest come tax season!
5. One-on-One Service – When the market slows down, your real estate agent, your loan officer, and others involved in your purchasing process have more time to work with you.   You will have more time to ask the hard questions and really get to know the people making your dream a reality.
6. Home Improvement Bargains – The end of the year is the cheapest time to buy higher-priced appliances like refrigerators, stoves, and washers and dryers, plus cookware and televisions are also marked down.  

Before you pause your new home search, consider seeing what Fall housing market has to offer.  Less competition means lower prices, sellers who are willing to negotiate, plus one-on-one service from realtors and loan officers.  Let me know if you have any questions about what’s available in your area.

Source: Realtor.com