Everyone loves fall. The leaves are changing, the temperatures start dropping, football season, pumpkin flavored everything, are some of the reasons why fall is so lovable. One of the other awesome things about fall is the housing market slows down, which is good news for buyers. There are a couple reasons why fall is a good time for home buyers, let’s take a look at some.
- Less competition. As summer comes to an end and the school year starts up, there are fewer families who want to move because they do not want to have their children change schools or school districts during the middle of the year. This is one of the reasons why competition for buying homes drops off in the fall. Fall is considered to be off-season realty. Don’t be discouraged by that though, in some cases there is just as much inventory in the fall as there is in spring and summer. This puts you in a great position to negotiate especially because some sellers will definitely want the move and sale to happen before the holidays.
- Sellers are worn out. Sellers that still have their homes on the market during the fall might have priced their homes higher than what buyers have wanted to pay in the spring and summer months. After months of no actions, these sellers are often ready to make a deal. Sellers are going to be worn out after months of work. They are likely to take a smaller offer rather than wait another six months for spring to be back around.
- Sellers means business. Just because a home is on the market in the fall doesn’t necessarily mean that it has been on the market for months now. Selling a home is all about timing and for some people fall might be the right time. If a home is on the market it could be due to a new job or maybe they are building a home that is just now ready. These sellers are going to mean business and they are going to want to move on deals fast, be ready.
- Tax breaks. First-time homebuyers, although you can’t escape paying income tax, you can make a dent in what you owe when you become a homeowner. Property tax and mortgage interest are both deductions you can take for your whole years’ worth of income, even if you closed in December. This can make a serious difference in the amount you owe the government at the end of the year.
- Fall is a safer time of year. Interesting fact, burglars have peak seasons. According to Sarah Brown, a home safety expert for com said that, “July and August are prime months for burglaries to take place, waiting for fall give you an advantage when learning about a home and the neighborhood”.
- It is all about you. During spring and summer, real estate agents are often very busy. That could mean a delayed process or not getting the full attention. The same thing can also go for moving companies that are also probably busier during the summer months. During the fall, more attention will be focused on you and it will be easier to meet your timeline.
- End of the year sales. When you buy a new home, chances are going to be that you need to fill that home with items. As the summer wraps up, lawn care items will start to lower in the price as the winter months approach. September means Labor Day Sales then November and December means plenty of holiday sales to stock up on tons of new items.
If you were on the fence about buying a home this fall, First Ohio Home Finance hopes this article convinced you. If you would like to talk further, contact our office today (888) 818-1850.