If you are thinking of buying a new home, the next few months might be the perfect time. While the spring market gets the most attention, savvy buyers can take advantage of some “best-kept secrets.” There may be fewer existing homes on the market in the fall, but there are some amazing opportunities for buyers who know where to look.
Here are a five things to keep in mind as you consider buying a house this fall:
1.) There’s less competition: During the peak spring market, you may have find yourself in a bidding war with other buyers. Since not as many people buy homes in the fall, there will be fewer offers for you to compete against.
2.) School district may be a factor: If you have school-age children and want to avoid the disruption of switching schools, explore new home options in the same school district. If you don’t have children, or your kids attend private school or are homeschooled, then this may not be an issue for you.
3.) Winter is coming: Sellers are much more open to negotiating in order to get their home sold before winter. They know that there are fewer buyers looking to move in the fall, and even less in the winter. It’s in their best interest to work with you to negotiate the best price, which puts you in the driver’s seat.
4.) There may be tax advantages: As the calendar year winds down, so does the tax year. Depending on your financial situation, there may be tax deductions you can get this year such as mortgage interest, property taxes, and interest paid at closing.
5.) New construction is king: With new construction, you don’t have to worry about the inventory of existing homes on the market, or finding all of the features and amenities you need. When working with a builder, YOU get to decide what your new home will look like and what features will be included. For example, you can get brand new, energy efficient appliances. Enjoy winter without the unexpected and potentially high energy costs associated with the amenities in older homes.
Start looking at what floor plans will work best for you.