We associate the fall season with several iconic autumn activities—from raking leaves to Halloween, football games to community festivals. But what about buying a house? The common consensus is that the best time to buy a house is during the spring and summer—when there is more inventory, when the weather is ideal for house hunting and when tax returns have just come in. However, there are several reasons to buy a home in the fall for those wanting to take advantage of the benefits that are unique to this particular season.
Consider these six reasons to buy a home in the fall.
- There will be less competition. By nature, the fall season generates fewer home buyers searching, which benefits you if you are looking for reasons to buy a home in the fall. Sometimes, depending on your area, there may be just as much inventory in the fall as in the spring and summer—but with a lower number of buyers to compete with, you’ll be in a better position to get your first pick.
- Sellers may be more willing to negotiate. With the above point being the case, sellers may be more likely to lower their prices in an effort to hook in a buyer. Some of these sellers may have even put their homes on the market during the spring or summer, meaning they could be desperate to sell after months of trying. What’s more—many sellers have a goal of getting their home sale out of the way before the holidays. All of this can work to your advantage as the home buyer.
- You can take your time. With other buyers nipping at your heels in the spring and summer, you might feel more pressured to make a move sooner than you would have liked—which can lead to rash decisions that you later regret. During the fall, you may be able to take your time and move through the home buying process at a pace that you feel more comfortable with.
- You’ll get a feel for your home’s fall aesthetic. Spring is touted as a time for sellers because the grass is green, trees are full and flowers are in bloom—creating an overall more appealing image than what a home might look like in the fall or winter. However, it can help you as a home buyer to see a potential property during a time when it’s not necessarily in its best light. It will allow you to look past the pretty foliage that may distract you from other exterior issues in the spring.
- You can still earn a tax credit. Closing on a home at the end of the year can still mean deductions come tax time. These can include closing costs, property taxes and mortgage loan interest. Some deductions may only be a matter of a few hundred dollars, while others may be more significant; however, every little bit helps.
- Year-end sales bode well for home improvement. When you move into your new home, you may be inclined to replace appliances, paint or make other home improvement repairs. According to Consumer Reports, appliances are the least expensive during December, while yard appliances like lawn mowers go on sale in October. In addition, September is an ideal time to purchase carpet and paint, Consumer Reports says.
Among the reasons to buy a home in the fall, you should also decide that fall is the best time for you and/or your family to make a transition to a new space both personally and financially. If you are looking to buy a home in the Auburn, Opelika or Lake Martin areas this fall, contact Realtor Ryan Roberts today at 334-750-9872, or email [email protected]!