While the sale of real estate often mimics what’s happening with interest rates and home buyer incentive packages, the seasons also influence the real estate cycle. And next to spring, fall is the busiest real estate time of year. According to Realor.com, “the fall real estate market offers certain benefits to home buyers, including year-end tax breaks, pleasant weather conditions for moving, wider selection of houses, and more.” Let’s take a closer look at a few of these advantages.
- Year-end tax breaks: Owning a home can lead to tax advantages on your tax returns, because both property taxes and mortgage interest can be deducted from your gross income.
- An ideal time to move: Cooler temperatures make packing and moving much more enjoyable, whether you’re moving your family by yourself or with professional movers. This is also an ideal time to move kids, because the school year is just beginning and it can be difficult to uproot them from their classes, teachers, and friendships.
- Time to make improvements on the home: If you buy and close on a home in the early or mid-fall, you’ll still have time to make some quick improvements to the home, like winterizing windows and doors, cleaning the gutters, and cleaning up the yard.
- More homes on the market = more choices: There are often more choices during this time of year, because people are eager to sell their home before the end of the year. While you may be tempted to jump at the first home that you love, allow yourself time to consider the impact of the purchase fully.
When you’re ready to buy or sell, contact Bowen Agency Realtors. We’ve helped many buyers and sellers during the busy fall season, and we would love to work with you!