Welcome to San Diego Blog | September 29, 2017
5 Reasons to Buy a Home the in Fall
Pumpkin Lattes, along with Football make Fall a great season. But those are not the only good things going on during this time of year. There are also some good reasons for aspiring home buyers to make a move during the Fall and land the home of their dreams. Here are 5 reasons home buyers should consider buying this Fall.
Reason #1- Sellers are more motivated in the Fall
People that decide to list their home for sale during the Fall season rather than waiting 6 months for Spring might have a legitimate reason to sell by a certain date. Also, sellers that were unrealistic with the pricing of their home during the Spring and Summer seasons are now faced with the reality that, in order to sell, they might have to make a price adjustment. Buyers can take advantage of both of these situations and use it as leverage when negotiating the price of their offer. Knowing the seller’s motive or current situation is a great way to uncover more ways to negotiate a deal to work in your favor.
Reason #2- Less Competition
This one might be a bit confusing due to the current low inventory we face in the market, but there is some truth to it. There are a good amount of buyers that leave the market after they don’t find the right home during Spring and Summer because of various reasons. Some decide to wait because they don’t want to relocate their kids after a new school year begins. Others are limited by their work schedules and decide that their current situation can wait until Spring rolls around next year. With Fall comes shorter hours of daylight which limit people’s ability to go look at homes during the evenings and they don’t want to sacrifice their whole weekend driving around looking at homes. Specially if the day is cold, cloudy or God forbid rainy. There’s just something about this time of year that makes people want to stay in sweats all day, grab something warm and stay indoors all day. So if you’re still looking to buy and are motivated, take advantage of the decrease in competition.
Reason #3- Year End Tax Credits
If you start looking for a home now and close before the end of the year you might be able to capitalize on some tax deductions. Even if you close on your home in December, you might be able to still count your closing cost, property taxes and mortgage interest as deductions towards your gross income for that year. Deductions will vary on a case by case basis, but even if it helps you save a couple hundred dollars, I would count that as a win. Thereare different rules and regulations that need to be addressed with a tax professional or CPA to make sure your situation falls within the guidelines.
Reason #4- Holidays Are Around The Corner
This works hand in hand with why some sellers become more motivated and why some buyers leave the market. I already mentioned some sellers become impatient during Fall and the pressure to sell escalates even more the closer they get to the Holidays. They want to sell their home with enough time to settle in at their new home and be able to host people over for the festivities. As a buyer, you can use this to your advantage and help them with a short and smooth transaction in exchange for a great price. Holidays also help reduce the amount of buyers in the market. Some people rather stay put in their current situation to ensure they’ll be able to enjoy the Holidays with their loved ones and just relax. This can allow you to capitalize on both ends and have a new home for you and your family to spend the Holidays.
Reason #5- Year End Sales
Usually when someone buys a new home they like to buy new furniture or decorations to go with it too. So what better time to do that than during end of year sales! Appliances and big ticket electronics all go on sale during this time. There’s nothing that goes better with a new home than a new big screen TV to watch football. Buying a new home can leave people with very little money to spare for other things such as decorations, but with all the sales going on, you are bound to find some great bargains.
For more information Contact Us:
Feel free to give me a call at (619) 564-2668 if you would like to discuss other ways we can help you land the ideal home for you. Or email me at Favio@WelcometoSanDiego.com for more information or to schedule a private tour of the neighborhoods.