It is well-known that Waltham real estate sales tend to heat up every summer and spring, and as the fall arrives, the market starts to cool down. There are even a few amounts of people looking to buy a house around November as the holidays are right around the corner.
While the market is slow at this time, it is not a bad idea to consider buying a home in the fall. Here are seven great things about waiting until the fall season to purchase a home in and around Waltham, MA.
1. More Time to Think
Keep in mind that bidding wars need swift action—however, sometimes with fewer buyers looking for a home in the fall, you are less likely to find yourself aggressively competing for a Waltham house. You can take complete advantage of this slower pace time in the Waltham real estate market, by using this downtime to do thorough comparison shopping as well as mull your decisions. A good Waltham Realtor or real estate agent can help you make the right decision with the limited homes that are left on the market.
2. Better Deal
If a home has been on the market for several months with no offers, sellers will tend to lower their prices in the fall as they just want to get their home sold before the winter.
3. Favorable Rates
Bankers and mortgage brokers have holiday bills and business lulls too—and they might be inclined to cut you a better deal when looking for a loan. If you are considering buying a home in or around Waltham, MA in the fall you should consider checking in with your local bank to see if you can negotiate lower down payments, interest rates, and more.
4. Tax Breaks
As a homeowner, you can deduct specific expenses on your tax returns, which includes property taxes as well as mortgage loan interest. Note that even if you end up closing on your home in November or early December, you could still write off various expenses when you file the tax return in the spring.
5. Sellers Want Their Home Off the Market
As mentioned earlier, sellers usually put their home on the market during spring and summer and list their home for a price that is often higher than the amount buyers can afford. However, after several months of no action, the sellers get antsy and just want to make the sale of their home and may be willing to negotiate prices.
6. More Attention from Real Estate Agents
For most Waltham real-estate agents, the period from September to February is the slowest time of year. Therefore, they will be hungrier for your business. With this being the slow period for real estate agents, you will have more of their attention and effort in terms of identifying the best homes as well as helping you get the best price that you can afford as their schedules are more open.
7. More Revealing Views
Note that landscaping, with all the leafy trees and lovely flowers, is like makeup for a home. As a result, it may camouflage many flaws in a house. However, once the leaves drop and the blooms fade, you will see the real story: worn areas in the roof, peeling exterior paint jobs, and foundation cracks will be plain as day. This is where you can take advantage of potentially cutting down home prices even more if there are repairs to be made. In addition, this is a great time to get a feel for what your new home could look like in a fall/winter setting and could help make your decision of purchasing the home that much easier.