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5 Reasons to Buy a Home in November

Motivated sellers = more price reductions.  Statistics show more price reductions on home bought in November and December.  If you are looking for your new home now, you can negotiate with confidence, knowing the statistics will bear you up.  If someone offered a higher price, it would have already sold, unless there was a problem with the deal.  Go ahead and ask for the price you wanted.  You are more likely to get it now than May through August.   Oh yes, and need some leeway on move in date?  Another benefit of buying when there are less homebuyers in the marketplace, is extra flexibility on things like move in date or floor allowance.

Image by Paul Brennan from Pixabay

Less Competition – From the real estate agents who give you more attention to the loan officers  who are willing to explore more mortgage programs for you; buying a home in the fall or winter offers you less competitive shopping and more attentive professionals to help smooth the homebuying process.  The site PurchaseOurNewHome.com can help your find an experienced, licensed, mortgage professional to preapprove you and prepare you for the home buying process.

See the home in the harsh season – Landscaping can hide lots of house flaws. Seeing the home in fall or winter give you the chance to see the real home, peeling paint and all and shows you how your prospective new home handles bleaker seasons.  You learn whether the roads are accessible, the windows have cold drafts coming in, and how well the heating system works etc.  If you fall in love with the house at its worst, imagine how much you will enjoy it in the green seasons.

More Bargains available when you fill your new home.  Looking for that new fridge?  New rug?  Couch?  Both pre-holiday and post-holiday sales mean getting what you need for your new home will cost you much less than you would have paid in July. 

Year End tax Breaks.  When you buy a home in November or December, you may be eligible for year-end tax breaks on things like interest, property taxes, and other home purchasing costs.  If you sold a home earlier in the year, you have the opportunity to level your capital gains tax liability.  Talk to your accounting professional to find out what applies to your situation.