Buying homes in fall Despite the fact that the months that occur during the spring season are always considered to be perhaps the best time to purchase a home, the truth of the matter is that the fall season may be the best new season to consider purchasing a home.
Here are four of the most popular things regarding purchasing a home in the fall.
*First and foremost, perhaps one of the most popular things about purchasing a home in the fall is the fact that you will be able to take advantage of all kinds of different tax breaks. If you’re a first-time home buyer, you won’t be able to get away with not paying income tax; however, you will be able to essentially make a dent in the overall amount that you owe when you actually become a homeowner. According to one expert, “property tax and mortgage interest are both deductions you can take for your whole year’s worth of income, even if you closed on your home in December. Any payments that are made prior to the closing of the loan are tax-deductible. This can make a serious difference in the amount you owe the government at the end of the year.”
*Another of the most popular things regarding purchasing a home in the fall involves a lesser amount of competition. Overall competition for homes generally drops during the fall season; however, there are still many homes that are for sale, and in some instances, there can be just as much inventory during this time as there had been during the spring and summer seasons. According to one expert, “fall means new inventory and repositioned old inventory that did not sell in the prime season. Fall homebuyers should consider making lowball offers, followed by more aggressive negotiation.” Additionally, another factor to make note of is that there are many sellers who remain motivated to sell their homes prior to the holidays, and if at all possible, buyers should inform these sellers that they can always close prior to instances such as Thanksgiving to the commencement of the school winter break.
*One other popular thing regarding the purchasing of a home in the fall is the fact that the fall season itself is typically a much safer time of year. According to one expert, “July and August are prime months for burglaries to take place. Waiting until the fall to buy gives you an advantage when learning about a home and the neighborhood.” What this means, essentially, is that you will be situated in your new home and will be able to take all of the necessary precautions, such as installing and setting up your new alarm system, prior to the start of the next burglary season.
Buying homes in fall *Another popular thing regarding purchasing a home during the fall season is the fact that sellers will always be serious. This is because some people need to sell during this particular time of year simply because the timing itself is right. According to one expert, “the sellers with houses on the market in the fall tend to be serious. That means sellers could be more open to negotiating and accepting a lower offer.”