Is purchasing a San Diego home in the fall a good idea? In this article, we’ll show why fall is a great time to buy.
While San Diego may not feel the significant seasonal changes seen in other areas, the real estate industry in our area certainly has its ups and downs.
Fall, like in most areas, is a bit of a slow time in San Diego. Activity certainly continues, and in some years could be even busier than the height of summer, but fall in San Diego generally follows the same trends as the rest of the country, slowing gradually after the summer.
If you haven’t found a home yet, or if you are just starting the home-search process, you might think it’s best to wait until after winter, then start your search.
But in San Diego, where the gorgeous weather allows for year-long market activity, it makes perfect sense to buy in the fall. In fact, there are some clear advantages to purchasing in September, October, and November. Here are some of those advantages…
6 Advantages to Purchasing a San Diego Home in the Fall
1. Less Competition from Other Buyers
One of the top benefits for purchasing a San Diego home in the fall is that you can go through the buying experience with less competition. While there may be fewer homes on the market, there will also (most likely) be fewer buyers competing for those homes.
This creates a variety of benefits. It allows you to visit open houses, for example, and not be elbow-to-elbow with other buyers. You may have more chances to purchase a home without a bidding war, and you can likely get a seller’s attention easier with buyer’s letters and other strategies. With less competition, you may not have to use sight-unseen purchases or other steps that are common in a tight, competitive real estate market.
2. Many Owners are Motivated to Sell Quickly
Many (but certainly not all) of the listed homes in the fall have been listed for a long time; some could have been on the market since early summer. In San Diego, this is, we admit, rare, as homes tend to sell quickly, often in less than two weeks.
But the fact remains that sellers are still motivated in the fall. The home may have been on the market for months, or the owner may simply want to sell before winter. Either way, you could turn their motivation into a purchasing advantage, using it to get a better deal on your next home.
3. Purchase is Just in Time for Year-End Sales
If you are buying a home, you’re going to need furniture to fill that home. This is especially true if you are upgrading to a larger house; you’re going to need beds, chairs, tables, and couches for all those different rooms. Even if you are not purchasing a larger home, you probably want new furniture that fits the style and character of your new place.
When you purchase in the fall, you are perfectly positioned to take advantage of holiday and year-end sales from furniture stores. You could save a lot on appliances like A/C units, washing machines, and dryers. These items cost hundreds of dollars, but year-end sales could help you reduce the cost.
Buying a home can become expensive, so this gives you at least a small chance to save after the purchase.
4. Real Estate Professionals Have More Time
Mortgage agents, real estate agents, appraisers, inspectors, and title-company representatives are extremely busy. This can make the purchase process long and frustrating. From May to August, these hard-working experts often have more work than they can handle; it could be weeks until they can begin helping you.
In the fall, this issue may not disappear entirely, but it certainly will be reduced. Things tend to slow down and relax, if only a little, so you’ll be able to find services like home appraisals and inspections much faster. Real estate agents may have more time to give to your purchase, and mortgage agents can likely process your application faster as well. All of this leads to a faster, more efficient, more enjoyable purchase process.
5. You’ll Be Home In Time for the Holidays
Is there a bad time to purchase a home? Not really. But some times are better than others. The holiday season would certainly be a rough time to buy. With all the activities and family obligations, buying in winter could be stressful. It may be better, therefore, to purchase in the fall.
If you purchase in September or October, you’ll likely be well settled into your home once the holidays come around. This means one less hassle for the holiday season, giving you the chance to enjoy friends and family. Whether you travel for the holidays or stay where you are, purchasing in the fall makes the entire season more enjoyable!
6. Tax Breaks Before the End of the Year
Mortgage interest is tax deductible, and certain property taxes can be deducted as well. So if you are considering a purchase but think it may be best to wait until next summer, you should remember that if you purchase soon you’ll have the chance to use these deductions on your next tax bill.
If you are able to itemize your tax deductions and purchase a home in autumn, you could have at least a couple months worth of tax-deductions waiting for you next tax season.
Purchase Your San Diego Home with an Affordable Loan
No matter what the season, if you are looking for a San Diego home we are ready to help. We’ll use our dedication and experience to help you secure financing for a top-quality home in one of the most beautiful cities in the United States!
You deserve an excellent home with a mortgage you can afford, so contact our staff today!
