In the market for a new home? Lucky you, because fall is the perfect time to go house hunting. Not only is it an excellent time of year to buy, but it's also one of the best seasons to shop for a perfect property (and not just because you can look at listings while sipping a pumpkin spice latte.) Here are some compelling reasons why fall is the best time to seek a new place:
Sellers need to sell
Home sellers typically wait until the spring to get their house listed, as it's the most popular time of year to sell. If someone lists their place in the fall (or winter), it might signify that something is motivating them to do so. Perhaps they got transferred for work, are going through a divorce, need to downsize quickly, or are experiencing some other life event that requires a quick sale. A motivated seller will likely be more open and flexible in negotiating with a potential buyer.
Timely tax deductions
New homeowners can take advantage of the many tax deductions that come with buying a home before the December 31 tax deadline. Buyers can write off things like mortgage interest, private mortgage insurance premiums, and their real estate property taxes. They can also deduct costs tied to obtaining their mortgage, such as loan origination fees and discount points paid to the lender. What's more, self-employed people can write off the square footage of a dedicated home office, as well as a percentage of their utilities. It's timely because purchasing in autumn means that new homeowners won't have to wait as long to take advantage of all those tax savings, either creating a larger refund or diminishing their tax burden.
Even with COVID-19, there's less competition
Many people now work from home due to coronavirus. As a result, there was a buying frenzy during the pandemic -- everyone wanted to escape the city's confines and live in a place with a bit more breathing room. That "frenzy" has abated since most families prefer to be settled by the first day of school (virtual or otherwise.) Plus, fall is the time when everyone is getting caught up in sports and the upcoming holidays. We all hunker down at home more often, especially as the days grow shorter and colder. Since there are fewer buyers in autumn, it means fewer multiple-offer situations and more favorable negotiation terms for those ready to purchase now.
Fall makes for a pleasant shopping experience
House hunting is a pleasant experience in autumn because summer's heat and humidity are gone, and buyers don't have to deal with the chill of winter. Plus, fall is "cozy home" season. Most houses are staged and decorated beautifully. Buyers get to enjoy the gorgeous, fall-themed porch and interior decor, smell the sweet scents of cinnamon and pumpkin spice candles and see fire pits and even a few early holiday lights aglow.
Bonus: You could obtain a free golf membership
If you're a golfer and in the market for a brand new, quality-built home in Georgia, then fall is the perfect time to buy at Harbor Club on Lake Oconee. Right now, anyone who purchases a new home built by Patriot Builders will receive a free golf membership -- a huge perk that's tough to match by other golf/lake communities and home sellers in Lake Country. Even better, a Harbor Club membership offers way more than just golf.
If you're house-hunting this fall and curious to learn more about our Patriot Builders' homes, or any other listings available at Harbor Club, give us a shout. We're happy to answer your questions and would love to show you around our award-winning Southern Living-Inspired Community. For a personalized tour (either virtually or from a safe, social-distance), contact us today.