Many people think buying a home is best in Spring and Summer, traditionally the hot selling seasons, but there are many advantages for buyers who want to purchase in the fall. Historically, the best time to buy a home is when market conditions are preferable and both competition and interest rates are low. The good news is the Nashville market ticks all the boxes. Here are six reasons why the fall is a great time to buy a home in Nashville.
#1: Less Competition
One of the best benefits to selling in the Fall is there is less competition. Several buyers already took advantage of the spring & summer selling season with many needing to be settled prior to the school year starting, so that means you won’t be competing with as many buyers for your dream home. That also means there’s less chance for a bidding war.
#2: Sellers More Likely To Negotiate
Because there are fewer buyers, sellers are likely more willing to negotiate, especially if the home has been sitting on the market a little while. That means you could end up with a better sales price and better terms.
#3: More Motivation
With the holidays approaching, both you and seller may want to be settled in your new homes before the hustle & bustle of the holidays get underway, so there’s motivation to get the deal done. Once you find that home you love, you’ll notice you start envisioning hosting Thanksgiving dinner or where you will put the Christmas tree.
#4: Tax Benefits
Not only may the seller want to take advantage of a loss or gain during the tax year. But, as the homebuyer – you may be able to take advantage of year-end homebuyer tax breaks. So, it’s a win-win.
#5: Low Interest Rates
Interest rates are still really low, which means as a buyer you have more buying power which ultimately equates to you being able to afford more house. As interest rates start to tick up, your buying power goes down.
#6: Score Deals To Outfit Home
The fall typically ushers in great deals on things you need to outfit your new home, like a new TV, lawnmower, appliances or cookware. You just want to make sure you actually close on your home before making any big purchases or else you deal could be in jeopardy.
Are you thinking about buying a home in Nashville this fall? If so, go ahead and give me a call, so we can get you started on the path to a new home. I can’t wait to meet you! Let’s go have some fun!