Plenty of real estate agents will tell you spring and summer are the best time to buy or sell a home. Lots of inventory and great weather to tour homes! That’s only half-true. Just because the leaves are changing color and the temperature is dropping, doesn’t mean it’s too late.
The truth is, homes are bought and sold every day of the year, and fall can be a great time to make your move. Let me tell you why:
•Sellers who listed their home in the summer only to have it not sell, will likely be more motivated to make a deal. If you’re a buyer and able to close before Thanksgiving or Christmas, you are in a strong position to get the house and the price you want.
•Traditionally, there are fewer homes for sale during the fall. That translates to less competition from a seller standpoint and provides an opportunity for your home to stand out from the rest
•Tax breaks for both buyer and seller. For buyers, property tax and mortgage interest are tax deductions you can take for a whole year of income, even if you close in late December. Payments made prior to closing are all tax deductible. For sellers, closing costs, home improvements and other expenses in selling your home can be written off as well. Of course, check with a certified tax expert to make sure you’re getting everything back you’re entitled to.
•Moving into or out of a home is stressful. Even more so during the summer when it’s hot and the attic with all your stuff in it is 120 degrees and all the moving companies are booked solid and you’re trying to get your children into a new school and you would just rather be at the beach. Life calms down a bit in the fall. Not to mention lots of great year-end and holiday deals to help fill your home with appliances, furniture or anything else you need.
Simply put, there is no perfect time of year to buy or sell a home. Doing so in the fall has a lot of advantages for both buyers and sellers. If you’re ready, there is no need to wait! Begin the process now and enjoy the benefit in the new year.