Thinking about upgrading to a new home in Tomball this fall? According to an article by real estate experts at Realtor.com, it may actually be the best season to buy – and not just because you can browse the listings while cupping a pumpkin latte. (You can also read their full breakdown here)
Get the better deals
The best month to snag a deal when buying a home? October. This isn't just some random guess; it's based on RealtyTrac's analysis of more than 32 million home sales over 15 years. The resulting data showed that on average, October buyers paid 2.6% below estimated market value at the time for their homes.
Less buyers competing
Families who want to be in a new home by the beginning of the school season are no longer shopping at this point. These families have exited the market, which means less competition. That translates into more opportunities for buyers.
Taking out an entire segment of the housing market provides millennial, single, and baby boomer buyers some breathing room. You’ll likely notice fewer buyers at open houses, which could signal a great opportunity to make an offer.
Year-end tax credits
No one wants to buy a home purely to make their accountant happy. But there's a sweet added incentive to that makes the best time to buy a housee sometime near the end of the fiscal year. Come the following April 15, you might be able to take some nice tax deductions, including closing costs, property tax, and mortgage interest, to offset your taxable earnings.
More quality time with your real estate team
As the year comes to an end, fewer buyers also means you should have the full attention of your real estate agent, mortgage broker, real estate lawyer, and everyone else on your house hunting team. This is the best time to ask all those questions you have about earnest money, due diligence, title transfers, and more without feeling like you're horning in their busiest season to turn a buck.
Feeling inspired? View new homes in Rosehill Reserve.