The real estate market is open 365 days a year – yes, even on
holidays – but there are cyclical trends to the marketplace. Some of
those ups and downs are based on mortgage interest rates and housing
availability, but some are based on season.
Next to spring, fall is the busiest season for home buying and
selling. Autumn offers certain benefits to home buyers, including
year-end tax breaks, pleasant weather conditions for moving and a wide
selection of homes for sale. Read on to learn the advantages of buying
in the fall.
Year-End Tax Breaks
Come September and October, people start to think about what year-end
tax breaks they might be eligible for. Fortunately for home buyers,
owning a home can yield great dividends in tax returns. For example,
both mortgage interest and property taxes
are deductible from gross income. Furthermore, if you have prepaid some
interest before the due date of your first payment, and if you close
your loan before the year’s end, that interest can also be deducted.
Getting Ahead of Mother Nature
Buying a house before the deep freeze of winter sets in is very
appealing to most home buyers. No one wants to worry about icy roads,
snowstorms or blackout conditions on moving day, nor is it fun to move
in sweltering summer heat.
School Year and Holidays
By wintertime, kids have settled into school,
established friendships and become involved in extracurricular
activities. Moving in summer would be least disruptive to your
children’s schooling or social calendar, but autumn is next best. Also,
by moving in fall, you’ll be settled snugly into your new home before
Thanksgiving and the winter holidays.
More Home Choices
While home demand is not as keen in fall as it is in spring, it’s still
high, so competition can be high, too. Fall buyers and sellers tend to
be motivated to move, unlike the window-shoppers who sometimes come out
in spring.You may experience pressure to buy, due to the quick turnaround of
houses on the market, but you’ll also benefit from the broad selection
of homes available. In fact, between September and December, you may be
able to visit several open houses in a single day, and listings will be
updated frequently. Therefore, to make sure you don’t miss out on your
dream house, it’s a good idea to regularly check listings and check in
with your Realtor.
Fall Home-Buying Tips
Given the home-buying competition and the short, pre-holiday timetable
in autumn, you may be tempted to place a bid that is out of your price
range, for fear of losing the home. Before you make an offer, know what
kind of house you need and what you can realistically afford,
and stick to your budget. You may want to explore prequalifying for a
loan so that you’ll be ready to act when you find the home you want. And
as always, whatever season you buy in, buy at the best time for you and your family, and hold out for the right house – there are always more homes to see and to choose among.
Author:Michelle Cantrell Phone: 417-860-6505 Dated: October 3rd 2013 Views: 2,491 About Michelle: Michelle is a native of Southwest Missouri and has twenty-five years of experience in selling real e...
The Michelle Cantrell Group wants to help you find your dream home! Specializing in all types of real estate throughout Springfield and surrounding communities. We are committed to providing the best real estate services, along with the greatest expertise and professional, personalized service to each of our clients.
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