(RE/MAX Blog)- With warm temperatures and long days, Summer has traditionally been the high season for buying and selling real estate. But don't discount these advantages that crop up when temperatures fall.
The long-held belief that summer is the best time to buy a home is fading fast. Savvy home buyers are learning that when fall hits, numerous benefits emerge that simply aren't available other times of the year.
If you're in the market to purchase a home, there's no need to hang up your house-hunting that until spring or summer. Here are six reasons why now might just be the best time to purchase a home.
1. Year-End Tax Breaks
As long as you can close on the property on or before Dec. 31, any property tax and mortgage interest paid are tax-deductible for that year. This can dramatically impact the amount of money you owe Uncle Sam, or increase your refund.
2. Less Competition
The National Association of Realtors recently noted that, in an average year, nearly half of all home sales occur from May to August. Although most people wait until the hustle and bustle of the spring selling season, you'll likely encounter less competition during fall and winter. That means less stress and reduced chance you'll be involved in a bidding war.
3. Eager Sellers
Sellers become more motivated the longer their home is on the market, especially now that the summer rush is over. If a home has been listed for a while, it may allow buyers more room for negotiation and potentially a better deal.
4. Cheaper Moving Prices
You're probably planning to hire a moving company in some capacity, whether you're moving across town or across the country. In the fall and winter, moving companies tend to be less busy, which means you might enjoy more flexible schedules and lower prices.
5. Quicker Transactions
Motivated sellers paired with less-busy title companies may mean a faster closing in fall and winter. Do you want a new home in time for the holidays or new year? It's entirely possible when you house hunt now.
6. Easier to Outfit Your Home
Need a new couch, cutlery or curtains for your home? Year-end sales are perfect for scoring a deal on these otherwise expensive items.
Start your job hunt today with RE/MAX Realty Group and RE/MAX 100.