Fall can be the best time of year to buy a home!
While summertime homebuyers are often battling each other and rushing to secure then move into their new homes before school starts, autumn buyers typically enjoy less competition. With fewer fellow home searchers, fall buyers can spend a bit more time searching for the perfect home. They’re also more likely to enjoy additional attention from REALTORS® as their client load lightens. At the same, service providers such as mortgage lenders and title companies are moving out of the summertime sales swamp and can often respond more quickly.
Following the summer rush and the traditional decline in buyer demand, sellers are often a bit more willing to negotiate on price. However, when inventory is low, such as in Orlando, buyers still shouldn’t expect big discounts in asking price. Buyers still need to be able to make a decision and put in a solid offer in a timely fashion.
Here’s some other great reasons to do your house hunting this autumn:
*With fewer sellers putting their homes on the market, homebuyers have a more limited selection in the fall. However, fewer choices can make it easier for homebuyers to zero on their top priorities when it comes to picking a home.
*Purchasing a home before the end of the year allows homebuyers to take advantage of the tax breaks such as:
• Mortgage Interest Deduction
• PMI and FHA Mortgage Insurance Premium Deduction
• Prepaid Interest Deduction
• Property Tax Deduction
• Energy-Efficiency Upgrade Deduction
*And by purchasing a property during autumn, homebuyers can be all settled into their new home just in time for the holidays!
Read about the economics of fall homebuying from National Association of REALTORS®