Fall is a perfect time for many things: Apple picking, raking leaves, back-to-school shopping, and weekend trips to the cottage. But late summer, specifically August and September, offers a perfect window of opportunity for something even more exciting: purchasing a property! Choosing the right time to buy is just as important as finding the right location. Here are four prime reasons home buyers should take advantage of the fall season:
The Market Is Less Competitive
With many potential buyers unwilling to move before school starts or away on summer vacation, the real estate market transforms into a buyer’s dream. With less competition and fewer bidding wars, buyers are in the driver’s seat when it comes to negotiating a lower asking price. Shopping for houses when the market is slow also means buyers don’t have to rush into making a decision and can more carefully compare homes and choose the best one for their lifestyle and budget.
Sellers Are Motivated To Make A Deal
Sellers who have listed their homes for an unrealistic price in the spring and summer with little luck on the selling-front may be getting anxious to sell come fall. With a drop in buyers and fewer offers on the table, sellers are more inclined to negotiate and accept a lower offer then wait until spring to re-list. In addition to the dwindling number of offers on the table, the time and energy needed to prepare a house to sell is difficult to maintain with school now in full gear and the holidays quickly approaching.
Outfit Your New Home For Cheap
Half-price sales on Halloween candy aren’t the only sweet deals happening in the fall! September to November are perfect seasons to take advantage of sales on paint, carpeting, furniture, and home appliances. Fall and winter are also slow seasons for moving and many companies may be willing to offer lower prices for their services.
End-Of-Year Tax Incentives
Purchasing a home the end of the fiscal year gives buyers the opportunity to take advantage of several tax deductions next April. Closing the home by Dec. 31 allows buyers to deduct closing costs, property tax, and mortgage interest from their entire year’s savings. These deductions can dramatically reduce the money owed to the government or increase tax refunds.
Take advantage of the seller's market and contact me today. I treat my clients like family and am always happy to help you understand and navigate the GTA real estate market. 416.543.4939 | firstname.lastname@example.org