There are several reasons why fall is one of the best times of the year. Weather cools down, leaves change color, football season begins, and pumpkin-flavored everything is available in abundance. One of the lesser-known benefits of autumn might be the best time of year to purchase a house.
Here are reasons why purchasing a house this fall could be a smart move.
There are fewer competitors
The majority of people purchase a home in spring or summer, when inventory is at its peak. Although this provides families with enough time to relocate before the academic year begins, buyers are faced with intense competition and often pay above-asking-price amounts. In contrast, people who purchase in the fall are less competitive, and sellers are more motivated. This gives buyers more negotiating power, resulting in a better deal.
There may be price reductions on older listings
During the fall, home buyers are more likely to find a bargain on a home. Months-old listings that have been sitting on the market are usually marked down in price.
Sellers might want to close by the end of the year
Living in a house creates memories and makes you feel at home, but it is also an investment—one that comes with tax implications.
Homeowners may want to close before December 31 in order to benefit from a gain or loss this tax year, so ask why the seller is selling and look for listings with incentives.
More inventory is still available
The inventory of houses for sale is the greatest during spring and summer, but there are still plenty to choose from in the fall. While some people may think that buyers would get a much better deal if they waited until winter, the selection would be limited by then. You get the best of both worlds when you buy a house in the fall: lower prices and less competition, but still sufficient inventory to find the home you desire.
Buying a home this fall may save you money or allow you to purchase more than you expected. In addition, with interest rates rising, the longer you delay, the less buying power you will have.
Now is a great time to sell! If you or someone you know is considering selling your home or land, we would be happy to offer a complimentary consultation. Call New Earth AVL Realty today and Contact Us.
If buying a home, or selling your house in 2022 is your goal, call us today. New Earth AVL Realty and I would be honored to connect, and Be of service to you and your family!
828.515.1771 (google voice) or 530.615.9345 (direct)
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