The best time to buy a house has long been considered the spring and summer. Meanwhile, their seasonal sibling, fall, often gets tossed to the leaf pile by potential buyers who might think autumn is just about haunted houses and turkey dinners rather than house hunting.
But surprise! Fall is not only a great time to buy a house, it might also be the best season to find the perfect property (and not just because you can browse the listings while cupping a pumpkin spice latte).
***5 Reasons To Buy A House This Fall***
Less competition and cheaper prices
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! With less competition comes cheaper prices. Supply and demand.
Worn-out home sellers
Sellers who have their homes on the market in the fall are generally people who need to sell, which can make for better negotiations for the buyer. And if a home you have your eye on has been on the market all summer, you're really in the driver's seat as far as making an offer the seller can't refuse.
The holidays are around the corner
If the seller wants to move and settle down in time to put up their Christmas lights, they'll have to close, fast. So use this pre-holiday window to your advantage by offering to help them vacate fast if they cut you a deal.
Year-end tax credits
No one wants to buy a home purely to make their accountant happy. But there's a sweet added incentive that makes the best time to buy a house sometime near the end of the fiscal year. Come the following April 15, you might be able to take some nice tax deductions, including closing costs, property tax, and mortgage interest, to offset your taxable earnings. And lets not forget about Homestead Exemption!
Home improvement bargains
Once you close on that home you found in the fall, you may want to upgrade your appliances. Luckily, December is when major appliances—refrigerators, stoves, washers, and dryers—are at their very cheapest, according to Consumer Reports.