Dympna Fay-Hart
Serving Chicago Area Sellers & Buyers

(773) 230-3800

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Buying A Home In The Autumn Months Is Smart: Here's Why

Spring and summer and traditionally the busiest months in residential real estate sales, but many smart buyers know that Fall can be a really great time to buy.  Here are some of the reasons why.

There's less competition for homes

Competition for available homes to buy drops off in the Fall, a time many people consider to be off-season. But there are still homes for sale. In fact, there is often just as much inventory as during the 'busy' months. There is always new inventory, and many serious sellers will reduce the price of their homes once activity wanes. 

This fact may put you in a great position to negotiate. Many serious sellers are very motivated to sell before the holidays. 

Sellers may be ready to make a deal

Some sellers who put their homes on the market during the prime selling times may have listed their homes for more than buyers were willing to spend. After months of no action, these sellers are often ready to make a deal. Sellers who were unrealistic about price may now be more willing to accept a lower price. 

Sellers tend to be serious about selling

Some people need to sell in the Fall because the timing is right. Perhaps they need to move because of a job, or change in family status, or any number of reasons. They could be more open to negotiating and accepting a lower offer because of their time constraints.

You can take advantage of tax breaks for the whole year

If you are a first-time homebuyer, you can make a dent in what you owe in taxes when you become a homeowner. Property tax and mortgage interest are both deductions you can take for your whole year’s worth of income, even if you closed on your home in December. Any payments that are made prior to the closing of the loan are tax deductible, which can make a significant difference in the amount you owe the IRS at the end of the year.

If you're considering shopping for a new home now to enjoy the advantages of buying after the busy season winds down, contact me and I'll help you find the perfect place and negotiate the best possible deal.  You still have time to enjoy your new home in the height of the Holiday Season!