Buying A Home In The Fall
While many people discuss trends in real estate one of the least common and discussed is the way the real estate market is influenced by the seasons.
Second only to Spring, Fall is the busiest real estate time of the year. This is in part due to the fact that the fall real estate market lends certain benefits to home.
Fortunately for homebuyers, owning a home can yield great dividends in tax returns. For example, both mortgage interest and property taxes are deductible from gross income. Also, if you have prepaid some interest before the due date of your first payment and you close your loan before the year's end, that amount will also be deducted.
A Step Ahead Of Mother Nature
Buying a house before the deep freeze of winter sets in is very appealing to most home buyers. Low temperatures and poor weather conditions make moving more difficult. No one wants to worry about icy roads, snowstorm warnings or blackout conditions on moving day. By moving in early autumn, not only do you avoid interrupting your children's schooling, but you gain the added benefit of eluding the sweltering summer heat.
Given that home buying and selling is at a peak during the fall season, the real estate world often becomes a highly competitive arena. While there may be added pressure to buy due to the quicker turnaround of houses on the market, at the same time you also benefit from the wider selection of homes available during this period.
A Few Fall Tips
Since fall is the second busiest season of the year for buying and selling houses, you may be tempted to put a bid on a home that is out of your price range for fear that another buyer will better your offer or snatch it before you. Carefully assess your financial situation ahead of time and before your feet hit the pavement