Most buyers think that spring and summer is the best time to buy a home. For some buyers–it may be. But for those buyers not tied to the school calendar, etc, Fall may be the perfect time to buy a home:
1. Lower home prices
According to RealtyTrac’s analysis of more than 32 million home sales over 15 years. The resulting data showed that on average, October buyers paid 2.6% below estimated market value at the time for their homes.
2. Less competition
Most spring/summer buyers have already found a home, meaning a fall buyer will have way less competition for the available houses on the market, says Bill Golden of Re/Max Metro Atlanta Cityside. “Many folks will drop out of the market until after the new year,” says Golden.
3. Motivated 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,” says Golden. The longer a home sits on the market, the more negotiating power the buyer wields.
5. Year-end tax credits
Should you purchase a home before the end of the calendar year, you might be able to take some nice tax deductions to offset your taxable earnings.