Happy fall! Autumn is one of the best times for buyers to purchase a home. Let’s go over the benefits!
#1: Buyers start to have more of an advantage in the fall.
A lot of the homes that are still on the market in autumn didn’t sell in the busy spring and summer season. This puts buyers in a better position to lower their offer a little bit or add in some contingencies where before they didn’t have that negotiating power. Sellers are going to be a little more motivated to work with buyers to sell their homes, especially before Thanksgiving and Christmas. It’s possible that sellers who still have their home on the market in the fall may have been a little overconfident in their pricing, and that may be why their home is still on the market. By this time, sellers could be tired of waiting and are more ready to get their homes sold. So they’re more likely to take a lower offer or work with the buyer more rather than waiting another six to eight months.
#2: Sellers are often more serious in the fall.
Not all of the homes on the market were left over from the spring and summer. It could just be that the timing for them happens to “fall” in autumn. Maybe they got a new job and they need to relocate, so they’re likely more motivated to get their home sold quickly rather than for the highest dollar.
#3: Take advantage of tax breaks.
Property taxes and mortgage interest are both deductions that you can take out for the entire year, even if you close on your home later in the year. Who doesn’t love tax breaks?
#4: Real estate agents are typically less busy.
When agents aren’t as busy, they can give more attention to you! This also applies to mortgage lenders and title companies. In the summer when things are really busy, people often experience delays. Simply having their full attention and not having to wait as long for inspections, title work, etc. is a really big benefit to buyers.
#5: You can take advantage of year-end sales.
Savings on savings! When you’re decorating and furnishing your new home, you can spend less with fall deals. Outdoor appliances like lawnmowers and patio sets often go on sale in autumn.
Fall is truly a great time to consider purchasing a home! If you have any real estate-related questions, you can always give our team a call at (217) 422-3335.