The long-held belief that summer is the best time to buy a home is fading fast. Savvy home-buyers are learning that when fall hits there are numerous benefits that simply are not available other times of the year:
- Year-end Tax Breaks. As long as you close by December 31 any property tax and mortgage interest paid are tax-deductible for the current year. That will dramatic impact the amount of money you owe Uncle Sam, or increase your refund.
- Less Competition. The National Association of Realtors recently noted that nearly half of home sales occur from May through August. As a result this means less competition for you as a buyer.
- Eager Sellers. Sellers become more motivated the longer their home is on the market especially now that the summer rush is over. This can enable more room for negotiation.
- Cheaper Moving Prices. In fall and winter moving companies tend to be less busy which means better schedules and lower prices.