3 Reasons to Buy a Home in the Fall
It’s no secret that summer is the season where most transactions on property take place. Both buyers and sellers have been chipping away at their respective goals since the beginning of the year—painting bathrooms, getting pre-approved, getting home valuations from their trusted real estate professional, saving for down payments. But what happens when the summer ends?
There’s still a market—a good one in fact. Consider these 3 reasons why fall may be a good time for you to buy:
Less competition. The fall months are typically associated with a decline in buyer demand that results in a willingness to negotiate among the remaining pool of buyers, according to Housing Wire. However, with a specific inventory, buyers shouldn’t expect big discounts off the asking price. The fall just means there is less competition.
More attention from your realtor. As the client load lessens, homebuyers conducting their searches during the fall months could enjoy additional attention. Similarly, service providers such as mortgage lenders and escrow offices are emerging from the summer sales swamp and are often more available during the fall.
Year end tax breaks. California offers automatic homestead filing that will still lend you benefits for the later part of the year. Remember to take advantage of tax breaks like mortgage interest deductions, PMI and FHA mortgage insurance premium deductions, prepaid interest deductions and property tax deductions.
We like to think the best reasons to buy a home in the fall is to be settled in just in time for the holidays, cooking pumpkin ravioli and wrapping Christmas candy, but that’s just us 🙂