For the first time in recent history, October has surpassed June as the most popular month to get married and these autumn-loving brides may be onto something. Although the spring months are notoriously the best time for major life changes like a wedding or a home purchase, fall may now be the new ideal time for such events.
When it comes to real estate, there are seven main reasons why a fall home search makes sense:
1. There is less competition. Because fall has historically been considered an off-season for real estate, there are fewer buyers in the market during these months. For those looking to find a home at this time of year, this translates to decreased competition and an increased chance at home-buying success.
2. Sellers are worn out. Some people who put their homes on the market during the prime selling times of spring and summer may have been slightly overconfident when pricing their property. So after months of no action, these sellers are often ready to make a deal by the time fall comes around.
3. Sellers are serious. Not all homes on the market in fall are leftovers. Many sellers choose to list at this time because it makes sense for their circumstances, and they are committed to finding the right buyer for their home.
“A fall home search may offer decreased competition and an increased chance at homebuying success.”
4. There are tax advantages. Although you can’t escape income taxes, it is possible to make a dent in what you’ll owe as a homeowner.
5. Fall is a safer time of year. Did you know that burglars have seasons? Robberies are less common in the fall, making it a more secure time of year to approach your real estate goals.
6. You will be the center of attention. Real estate agents are very busy during the spring and summer months, but once fall arrives, they will have more free time to devote to you and your home search. This is also true of inspectors, lenders, and appraisers.
7. You can take advantage of end-of-year sales. Purchasing a home is a major financial obligation, so saving money wherever possible is ideal.
If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.