5 Reasons to Buy a Home this Fall
Spring is traditionally the hottest time of year to buy a home. But there’s a lot to be said for waiting until September or October to begin shopping around for a property. As nature’s landscape begins to change, so does the home-buying landscape. If you planned to wait until March or April to become a homeowner, here’s why you might want to buy a house in the fall.
Less Competition - No doubt that 2021 has been a seller's market, meaning there are more buyers in the market than there are homes to purchase which means increased competition among buyers. Timing, however, also plays a major role with buyers when the fall season hits. Families who want to be in a new home by the beginning of the school season are no longer shopping at this point. That translates into less competition and more opportunities for buyers.
There's Less Pressure to Buy Quick - When homes are selling within 2 days in the spring and summer, you might feel pressured to move quickly. During the fall, however, you may be able to work your way through the home-buying process at a slower pace. If you don’t have to rush, you can take some time to compare homes and choose the best one for you, your family and your needs.
There's still time to get a tax break - Becoming a homeowner can help you make a dent in your income tax. Homeowners can deduct their mortgage interest payments as well as the amount you paid in property taxes which can reduce the amount owed in income taxes.
You're the center of attention - Because spring and summer is the ideal time to buy a house for the majority of people, real estate agents are usually busier during that season. 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 such as lenders, title companies, insurance brokers, home inspections, movers, etc.
Interest rates are still low! - Yes, and this is very good news! I've personally seen some clients get mortgage loan rates as low as 2.875%!
Regardless of when you decide to buy a home, it’s important to do research before making a purchase. It all starts with a conversation with a local real estate agent or realtor so that we can guide you through the process.
