In most regions of the country, spring and summer are the times to sell a home. The weather is warm, there is a full selling season ahead, and buyers are entering the market at a rapid pace. But selling a home in the fall has its own benefits.
Spring is, according to conventional wisdom, the time to buy a home and the time to list a property for sale. But there are good reasons to sell your home in the fall. Whether you need to move into a new residence quickly, or you simply want to test the market and see if you can get a fair price for your home, there are certain advantages to selling a home in the fall.
6 Advantages of Selling Your Home in the Fall
1. Less Competitions Among Sellers
With so many homes placed on the market in spring, it can be incredibly difficult to make your home standout. Hundreds, possibly even thousands, of local homes come onto the market every spring, which means your house can be buried in a landslide of listing.
Autumn, however, is typically a quieter time. There are often fewer listings on the market, which means your home has a better chance at standing out. Yes, there are fewer buyers, decreasing the chances of a bidding war, but you can still expect to find many buyers, especially buyers who are motivated to purchase a home…
2. Only Motivated Buyers
To be honest, you will likely see fewer buyers during the fall. But this may not be a bad thing. In the spring and summer, some people are casually browsing houses, thinking about possibly getting pre-approved, but not really serious about buying. They don’t need a new house, but if the right one comes around, they might purchase.
Buyers in the fall are often different. Sure, you will have a fair share of causal shoppers, but most shoppers in the fall are motivated, serious homebuyers. People who enter the market in the fall are more likely to need a good home for their families, and they are more likely to be shoppers who are will to buy soon. This means you can key in on buyers who are more likely to purchase at a fair price, without having to sift through numerous buyers who may only waste your time.
3. Your Home Looks Great in Autumn
Realtors understand that “curb appeal,” how the home looks from the street, is an important factor for buying and selling a home. Regardless of the quality of the interior, if people drive up to your for-sale property and the first thing they see is an overgrown lawn, broken shutters, and chipping paint, they immediately have a bad impression. Likewise, if they pull up and see a clean lawn, pristine siding, and manicured landscaping, they automatically feel good about the property.
In the fall, curb appeal can be taken to a high level. If you have trees on your property that change with the season, it gives your home a vibrant, welcoming appeal. This may not be as prevalent in warmer climates like San Diego, but in areas with vibrant fall foliage, this can give your property a gorgeous backdrop. Late-flowing plants may also still be in bloom, giving your home a wonderful collage of color while significantly enhancing the curb appeal of your property.
4. Cool Weather Can Work to Your Advantage
In cool climates like the midwest, changing leaves can make your home look spectacular. This is not a reality is warm areas like southern California, Texas, or Florida. But in this case, the fall can result in a better shopping experience, putting buyers in the mood to make a purchase. This can work to your advantage, allowing you to stage the outdoor areas without sweltering heat that forces people indoors. This gives the potential buyer a wonderful first impression, helping you capitalize on your outdoor space.
5. Property is Sold (Hopefully) Before Busy Holiday Season
The holiday season is one of the busiest times of the year. Yes, it’s supposed to be fun and family, but we all know that shopping, planning, travel, and all the other details involved in November and December cause a lot of frustration. Now imagine trying to sell your home, with showings, meetings, and negotiations, during the holidays. That turn the holiday season, which should be enjoyable, into a stress-inducing nightmare.
While nothing can guarantee that the closing process is complete by Christmas, placing your house on the market and starting the sales process is a great way to reduce your stress during the holidays. If all goes well, you may have a buyer before Halloween, which means the final closing could be complete by Thanksgiving. That can take a lot of work out of an already-busy holiday.
6. Tax Write Offs Before End of Year
If you are a home seller, there is a potential for tax breaks if you close before December 31st. Of course, if you don’t sell by then, you’ll still get the tax benefit, but you’ll have to wait until tax seasons of next year.
You can include a wide variety of selling expenses in the cost basis of your home. Increasing your adjusted cost basis will decrease your capital gains (if capital gains are part of the issue) because they can be subtracted from the sales price. If you have less of a gain, you are more likely to be excluded from capital gains taxes, which could reduce your burden in spring of the following year.
Having this tax benefit shortly after selling your current home and purchasing a new one has obvious advantages. Moving into your new home, you’ll likely want to make improvements and upgrades; a tax benefit realized sooner than later can help.
Top-Quality Mortgage Support, Any Season of the Year!
If you are looking to purchase a world-class home in the fall, or if you simply want to see what mortgage options might be available, contact our staff today. No matter what the season, we have the resources, experience, and knowledge to help you find the perfect property!