Summer has wrapped up, and fall is in the air! As a potential homebuyer, fall is the perfect time for you to purchase a new home. Although this is considered an “off-season” in real estate, it is potentially the best time to nab a great deal! Grab your pumpkin spice latte, and watch the leaves fall as you find your Nashville dream home! Here are some of our top reasons why we believe now is the perfect time for you to search for a home.
Lower Prices
According to RealtyTrac, October is the best month for getting a deal on a new home. On average, October buyers paid 2.6% below the estimated market value for their new home. This is an excellent opportunity for you to save thousands of dollars on a home. Statistics show that fall is the best season to buy a new home, with spring being the most expensive (specifically April).
Less Competition
Summer is primetime for buying a new home, therefore the residential real estate market clears out shortly after. As people are closing on their new homes, it causes an influx of listings as their previous homes sit on the market. There is always a plethora of open houses in the fall, allowing you time to browse potential homes and to choose the perfect match.
Better Negotiation
Again, since summer was prime time for home buying, you have a big advantage while searching for a home in the fall. You are able to make a lower offer with much more room to negotiation. A lot of homeowners need to be out of their home by the winter or by the holidays, or their listings may have been sitting around from the summer. You will have the upper-hand in getting a home at this point.
Holidays are Coming
Someone trying to close on their house in October will make every effort to do it in a hurry. A homeowner will want to be in their new home in time for the holidays to settle in, decorate, and unwind. This is a huge advantage for you, since they will want to be out in a hurry, they might offer you a better deal!
Beat the Winter Weather
It is best to settle into a new home before the winter. Trying to move in the winter can be dangerous if it snows or if there is any ice on the ground (which we all know is Nashville’s typical weather pattern). Fall is conveniently not too hot, like summer, and the weather is less hazardous than in winter. This will allow you ample time to settle into your new home before you have to worry about weather putting a damper on your moving plans.
Less Year-end Tax Credits
If you are able to close on a new home at the end of the fiscal year, you are able to receive year-end tax credits. You are still obligated to pay income taxes, however you can lower what you will have to pay back. When April 15th approaches, you will be able to receive deductions on property taxes, closing costs, and mortgage interest. This will help add to the savings that you are already receiving!
Our Armstrong Real Estate agents want you to enjoy the home buying process. We’d love to see you live in the house of your dreams for fall! Click HERE to find the latest offerings in Nashville. Give us a call @ 615.807.0579 for any home buying or selling questions!
Here at Armstrong Real Estate, we are eager to help you with buying a new home. We hope that you are able to find the perfect home in time for fall and are excited to help you!
