There are many reasons to be excited now that the fall season is in full swing: the changing leaves, crisp air, and cheer of the holidays ahead. Beyond that though, fall and winter can also prove to be a great season for homebuyers.
Here are a few reasons why buying a home now could mean a bigger bang for your buck if you’re willing to bundle up a bit while on the house hunt.
- Leftover inventory: Sellers tend to put their homes on the market for the first time in the spring, listing it at the highest price point, which means price reductions are likely by this point in the year.
- Motivated sellers: Sellers who put their homes on the market now (or still have it on the market) during this time of year are typically more serious about selling – otherwise they would wait to list (or re-list) until spring. They want to get the listing off the market so they can enjoy the holidays uninterrupted, which means they are more flexible with buyers during negotiations and the closing process will likely move more quickly.
- Less competition: Families who have young children want to be in a new home by the start of the school year so they are no longer shopping for homes at this point – they’ve either made their move or are staying put. That’s a huge segment of buyers out of the market, which means less competition.
- Realistic view: The best way to determine whether you really love a home is when the weather conditions aren’t at their best. The distraction of beautiful foliage and sunshine often times causes buyers to overlook flaws or things they would not normally settle for. Plus, the home inspection will reveal a more accurate picture of the home so that you don’t get stuck with unexpected expenses down the road.
- Tax perks: If you close by December 31, you can deduct mortgage interest, points, and property taxes when you file in the coming year.
- Lower moving costs: Home inspectors, moving companies, and contractors generally want to drum up business during the winter since demand is low. As a result, you’ll be able to take advantage of lower prices and special promotions.
If you’re ready to start your search, let us know! Our unique approach makes it VERY easy and we’ll take a lot of the stress and leg work out of the home buying process. It’s VERY fun, we promise.