The Real Estate in the summer is as hot as the weather! But there are some added bonus if you postpone your purchase until fall.
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.
One obvious reason is that it’s easier to get from house to house without working up a sweat waiting for the AC to kick in.
Families that want to move into a new home before school starts are already settled in and off the market.
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 you in a great position to negotiate. Many sellers are very motivated to sell before the holidays. If possible, buyers should let these sellers know that they can close before Thanksgiving or before the school winter break.
Sellers are worn-out
Some sellers who put their homes on the market during the prime selling times of spring and summer might not have seen the offer they were looking for. After months of no action, these sellers are often ready to make a deal.
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.
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. “Property tax and mortgage interest are both deductions you can take for your whole year’s worth of income, even if you closed on your home in December,” says David Hryck, a New York, NY tax adviser, lawyer, and personal finance expert.
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.
The same goes for movers, Check their prices it could vary when it's not peak season.
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?
TIP: checkout 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.