Did you know that more starter homes come on the market in the fall than any other time of the year? That’s just one reason why fall is a great time to purchase a home.
Historically, most people think that spring and early summer are the best times to purchase a home. Makes sense. That is when many people put their homes on the market, and buyers want to get into a new home before the new school season starts. But what this leads to, especially in times when inventory is low, is bidding wars. Fall can be the perfect time for first-time homeowners to purchase a home because while listing prices may not drop over the fall and winter months, SALES prices do! So you can pay less for the exact same home in the fall as what you would pay for it in the spring, according to statistics, up to 2.6% less.
Another benefit to fall purchases is that fall weather, and rain, in particular, may help your home inspector find troublesome leaks or issues with your home.
And let’s not forgot one of the best advantages to purchasing in the fall, LEVERAGE! Many homeowners who put their home on the market in spring or early summer are just plain worn out. The holidays are around the corner, and many want to just be done with the whole process. This can give you extra leverage to negotiate a better price.
Making accountants everywhere happy, purchasing in the fall allows you to take advantage of the end of year tax credits. Getting your purchase in before the end of the year will allow you to take deductions next spring for things like closing costs, mortgage expenses, and property taxes.
Last but not least, fall is the time of year when all the major appliances go on sale to make way for the next year’s lineup. Prices are at their lowest at the end of the year for major appliances like washer/dryers, stovetops, and refrigerators, as well as household items like cookware and TVs.
So if you have been thinking that you would wait to start looking for the spring, don’t wait. Contact me now and I can help you find the home of your dreams. – Lori Duke 240-283-7071