Fall in love with a new home this autumnDate posted: 11/2/16 09:30:00 AM
While many people buy homes in the spring and summer seasons, autumn may be an ideal time to purchase a home.
The hot housing market exhausts sellers
According to Trulia, because so many individuals often put their homes on the market during the prime selling seasons, spring and summer, many sellers still looking for an offer are more serious about closing and making a deal.
"Sellers who were unrealistic earlier in the year about price will now be more willing to reduce the price come fall," noted Thomas Miller, a real estate agent, according to Trulia. "Because there [are fewer buyers] and because the sellers are now eager to sell, they are more inclined to take the low offer than wait another six months for spring to come around."
It's prime time for tax breaks
Another advantage to finding a new home in the fall is that you are nearing the end of the year, which is an advantage when it comes to paying taxes. While you can't get out of paying income taxes, you will be eligible for certain tax deductions when you officially become a homeowner.
"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," said David Hryck, a lawyer, tax advisor and personal finance expert. "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."
Mother Nature is on your side
Realtor.com noted that investing in property before winter sets in is an especially appealing perk of buying during the fall. When it's time to move into your new house, you don't have to worry about blistering snow storms or unbearable heat waves.
Feel safer when you move in
According to Trulia, July and August are the peak season for burglaries. If you wait to purchase a home during the fall, you have time to take the proper precautions and install safety features in your new home. In addition, you can feel more comfortable learning about your new neighborhood.
Improvements are more affordable
Did you find the perfect house, but you want to invest in a few minor tweaks? End-of-year sales are right around the corner, so if you need a new appliance or want to spend a weekend repainting the kitchen, it won't cost you quite as much if you take advantage of seasonal discounts.
Finding the perfect property is an exciting endeavor, but ensure you do it during the most appropriate season. Fall might be the ideal time for you and your family to purchase your next home.
- Winterizing your home and finances - 12/12/17
- Retirement plan options - 11/29/17
- Best time to buy a car: December - 11/29/17
- 6 sustainable ways to save during the holidays - 11/9/17
- Steps that can help prevent identity theft - 11/2/17