For the first time in recent history, October surpassed June as the most popular month to get married. And these autumn-loving brides may be on to something: Although the spring months are notoriously the best time to buy real estate (as well as have a wedding), fall may be the new ideal season to buy a home.
Hear us out: One obvious reason is that it’s easier to get from open house to open house without questioning where you could possibly liquify amidst the summer heat. Also, families on a mission to move into a new home before school starts are out of the picture. Besides these two more obvious reasons, here are seven expert insights on why you should consider a fall real estate purchase.
1. There’s less competition.
Competition for houses drops off in the fall, a time many people consider to be off-season in real estate. But there are still homes for sale — and in some cases, there’s just as much inventory as there was during the spring and summer. This puts your in a great position to negotiate.
2. Sellers are worn-out.
Some sellers who put their homes on the market during the prime selling times of spring and summer might have been a tad overconfident by listing their homes for more than buyers were willing to spend. After months of no action, these sellers are often ready to make a deal.
3. Sellers are serious.
Not all homes on the market in fall are summer leftovers. Some people need to sell in the fall because the timing is right. Maybe they were having a home built, and it’s now ready. Maybe they need to move because of a job.
4. You can take advantage of tax breaks.
First-time homebuyers, take note: Although you can’t escape paying income tax, you can make a dent in what you owe when you become a homeowner.
5. You’re the center of attention.
Because spring and summer are ideal times to buy a home, real estate agents are usually busier then. And that could mean you might not always get the attention you want. This is also true for other professionals you’re working with to buy a house; movers are more expensive and harder to schedule, lenders and title companies are swamped.
6. You can take advantage of end-of-year sales to outfit your home.
There are bound to be improvements you’ll want to make after buying a house. You’ll also probably need to buy items to maintain your home, and if appliances weren’t part of the deal, you’ll need those too. Wouldn’t it be great to coordinate your home purchase with sales on items you’ll need? According to Consumer Reports, the calendar determines when it’s a good time to buy all sorts of consumer goods. In particular, September is a great time for buying carpet and paint. October means lawn mowers go on sale, and appliances and cookware are cheaper in November.