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The Top 4 Reasons to Buy a Home in the Fall

The Top 4 Reasons to Buy a Home in the Fall

As the leaves begin to change and temperatures start to drop, the reality that summer is over becomes an unavoidable fact. Fall is here and with the change in seasons comes a change in the real estate market. The summer market was characterized by escalating home prices and limited supply. With the onset of fall, an end-of-season slow down seems inevitable. But this is not the case. Instead, the beginning of fall presents a multitude of opportunities for homebuyers. This is driven in part by a back to school mentality, according to an industry survey. Forty-percent of respondents cited "the end of vacation bringing a renewed focus on real estate." So, if you're in the market for the perfect home fall might be the ideal season for you! Here are the top four reasons to buy a home in the fall.

 

1. You can enjoy year-end tax breaks - Buying a home before the year ends enables you to benefit from tax breaks such as the mortgage interest and property tax deductions. "There are certain deductions that can be claimed by homeowners only," states 1040Return.com founder, John Gregory. "if you have taken out a homeowner's loan, consider these deductions as Uncle Sam's gift to you." 

2. You can avoid the multiple-bid minefield - Bidding wars ruled the limited supply of houses this summer. However, the start of fall marks a steady deccrease in buyer saturation. With less competition in the market, fall homebuyers can spend less time scrambling to outbid competitors and more time searching for the perfect fit.

 

3. You may have more bargaining power - Fall homebuyers may also be able to purchase at a reduced price. Sellers who failed to get rid of their houses during the summer become more amenable to negotiation.

 

4. You'll be "home for the holidays" - Fall homebuying activity is inexorably linked with emotional motivation. "As people return from summer vacations the desire to buy a new home for the coming holidays is a driving force behind fall home sales" notes Castle's President Jim Lowenstern.

 

So there you have it, the Top 4 Reasons to Buy a Home in the Fall. Good luck and happy hunting!

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