Fall into Savings: Benefits of Buying this Fall
Spring is widely known as the most popular time to go house hunting, but did you know that buying a home in the fall can land you big savings? Every article you read about buying a home in the fall touts potential tax advantages. You might be able to take some nice tax deductions, including property tax and mortgage interest deductions to offset your taxable earnings as long as you close escrow before December 31. This can add up to substantial savings.
See the neighborhood in action
But the advantages don’t stop there. Buying in the fall allows you to check out potential homes when neighborhoods are bustling with back to school activities. You can see where your child’s bus stop would be, get a good feel for how many kids are in the neighborhood and you can visit the school itself, while classes are in session.
Fewer sales mean more attention for you
Moving companies aren’t as busy, so it is easier to schedule your moving date. It’s also a great time to get a lot of attention from your REALTOR® and Mortgage Loan Officer. Typically, they aren’t as busy in the fall, which allows them to spend more time with you.
Above and beyond that, the fall is a great time for potential savings! There are fewer people looking. Less competition means less chance of finding yourself in a bidding war, which can drive house prices up. Plus, with less competition, you’ll have more time to think on a house to truly decide if it’s right for you. Additionally, sellers who have listed their homes too high in the summer are starting to realize it and are dropping prices to more realistic levels.
Take advantage of those year-end sales
If your house is a fixer-upper, jackpot! The fourth quarter can be a great time for renovations. Fall is the time to save on new floors, windows, cabinets, air conditioning, really anything that is considered offseason. Companies and tradesmen want to keep their people busy and are willing to give you a price break as an incentive.
Interest rates are low
Interest rates took a dip this fall, and with lower interest rates, you’ll have access to more buying power. Don’t fret fall house hunting! Take advantage of all that fall has to offer and get into your beautiful new home in time for the holidays.
The information contained herein (including but not limited to any description of lending programs and products, eligibility criteria, interest rates, fees and all other loan terms) is subject to change without notice. This is not a commitment to lend.
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