1. Less competition during non-peak time
Many people who searched for a new home in summer turn their focus to school and family in the fall and are not out house hunting. Plus, with new inventory and potentially reduced prices on homes that didn’t sell in spring or summer, you may find you are less likely to enter a bidding war.
2.Sellers are more motivated
If a house has been on the market for a while, you gain power in all kinds of areas —if you need an earlier or later closing date, you may be more likely to get it.
3.Stronger ability to assess light & leaks
No doubt homes look prettier when the sun is shining, the lawn is green and flowers are in bloom. The advantage of seeing homes off-season is that you have a clearer view of flaws in the home and around the property.
4.More neighborhood activity
It’s much easier to get a good picture of neighborhood atmosphere when everyone is back from vacation and the kids are back to school.
5.Celebrate the holidays
If you’ve always wanted to host family gatherings or festive parties for the holidays, but didn’t have the space, you still have time to make that happen if you purchase early in the fall.
6.Holiday sales stretch your dollar when shopping for your new home
Take advantage of holiday and end-of-year sales! When you’re ready to redecorate, furnish and outfit your new home, you’ll discover deals on items such as appliances, electronics, furniture, cookware, carpeting, paint and tools..
7.Greater access to resources
If you buy and move during the off-season, you’ll have fantastic bargaining power with professionals who provide the services you may need. Movers, house painters, and contractors are generally less busy at this time, so you’ll likely get faster response times, more attention, and better prices.
8.Dollars and Sense
If you close on your new home before the end of the year, you may be eligible for an attractive tax deduction next April. Deductible items include closing costs, property tax and mortgage interest. All of these can add up to big savings at tax time. In addition, owning a home is a great way to build family wealth. Every time you pay your mortgage, you are contributing to your net worth by increasing the equity in your home.If you are ready to start shopping for a new home, it’s best to start by getting pre-qualified for a mortgage so your real estate agent knows you are a serious shopper. Contact Sue Meitner at Centennial Lending Group with any questions you may have or to get pre-qualified.