Are you seeing less for-sale signs now that summer is over? That can be great news for both buyers and sellers. Don’t think you’ve missed the boat on making your move this year. Here, RealtyTimes offers five ways that buying and selling in the fall can reap big benefits.
1. Less competition
While there might be fewer homes on the market, there also are fewer buyers out there competing for the same home you want. That gives buyers an important edge. The benefit to sellers is that those buyers who are out there tend to be more serious, which means your Realtor can key in on the serious buyers.
2. Tax breaks
If you are a buyer and close escrow before Dec. 31, you also might be able to write-off property tax and mortgage interest on your taxes. Home sellers also can include selling expenses in the cost basis of their house, along with closing costs and home improvements.
3. Home for the holidays
If you buy or sell early in the fall, that means you could be nicely situated in your new home in time for the holidays. Moving during a calmer time of year also means you may have better access to movers and other necessary resources than during the busier spring and summer seasons.
4. The right price
Whether you’ve had a revelation about the price you should be asking or have made updates to your home to justify a higher price, you’re probably in better shape to get your realistic asking price in the fall. If you’re a seller and you establish a smart pricing strategy, you could find your home standing out in the crowd and selling while others sit on the market. Buyers also might have a better time getting a home that’s within their budget; when there is less competition for homes, there is less chance of bidding wars and sales over the asking price.
5. Great deals on items to fix up your home
Coordinate the timing right, and those items you need to fix up your home for sale in the fall—or to update and upgrade after a purchase—might be priced to your advantage. Check Consumer Reports for a full list of the best times of year to buy everything, and keep in mind holiday and Black Friday sales. You could score some super deals during this time of year.