Think of fall and you’ll probably think of colorful leaves, the crispness of the air and the pumpkin flavored everything that you find in the grocery stores. What may not come to mind is how fall is one of the best seasons of the year to get your money’s worth in buying a new home. Prices are lowered and sellers are anxious to get moving – all which benefit you, the buyer. Here are 6 things to consider when considering whether to put off your search until next spring.
- Lower home prices: According to RealtyTrac’s analysis of more than 32 million home sales over 15 years, October is the best time for buyers to purchase a home. With winter around the corner, many sellers reduce the sales price of their homes resulting in a buyer having more purchase power. In other words, you’ll pay less than You’d pay for the same home the following April.
- Less competition: The spring and summer buyers having found their new home leave a fall buyer with less competition and a healthy pool of homes to choose from. Continue to go to open houses and watch new home listings. You could reap great rewards by waiting until fall to buy.
- Worn-out home sellers: Generally, sellers whose home is still for sale after the busy spring and summer seasons are the ones that really need to sell. If you’ve had your eye on a home and it’s still listed in the fall, put in an offer. The longer a home sits on the market, the better position you’ll be in to purchase the one you want.
- The holidays are around the corner: With Thanksgiving and Christmas around the corner, sellers will be anxious to move and be settled in their new place before the arrival of family and friends for the holidays. Use this time to your advantage by putting forth an offer that gets them where they want to go!
- Year-end tax credits: While it might not be first and foremost on your mind, there is an added incentive to buying a home before the end of the fiscal year. You could qualify for great tax deductions including closing costs, property taxes and mortgage interest.
- Home improvement bargains: Don’t forget the opportunity to upgrade things like appliances, furniture, TV’s etc before year’s end. You can find great bargains on all kinds of home improvement items. Not only will you have gotten a great deal on your new home, you could find yourself with extra money to upgrade.
** Anne-Marie has been a top-selling broker in southern Maine for 15 years. She has the experience and community connections to deliver successful real estate transactions. She brings her clients service during their transaction, but also personal service beyond the sale. Click here to see Anne-Marie’s Reviews. McKenzieHomeSales@gmail.com or 207-831-9157. http://www.MaineRealEstateResource.com