Have you ever wondered about the best time of year to buy a home in Central Texas?
It may come as a surprise to many homeowners in Central Texas that there are huge financial advantages to buying or selling during specific months, or seasons, in Central Texas. After all, it’s not like Texans endure harsh winters like those living further north in the United States.
It’s easier to understand why a location with regular, drastic temperature fluctuations sees real estate prices rise and fall significantly throughout a year. Given the choice of buying in the frigid cold of northern winter or during its temperate summer, most families would spend considerably less money for a home if they’re willing to endure house hunting in the cold. Depending on the state, temperatures may completely transform a city between June and January. Seasons make the same city’s real estate market look like two different worlds.
Though Central Texas weather is sometimes crazy in its own right, we generally enjoy reasonable temperatures, year in and year out. But that doesn’t mean our real estate market doesn’t fluctuate like the rest of the country.
As the days get shorter and the holidays approach, homesellers can grow weary and fearful of having their home sale spill-over into the new year or getting in the way of quality time with their family. The approaching holidays can mean that sellers are highly motivated to find their buyer and make their move.
And that’s where you--the buyer--can find an excellent deal on a Central Texas home.
The most advantageous time to buy, according to data analyzed by RealtyTrac, is October. We imagine this has something to do with the busyness of the holidays: Potential buyers to procrastinate their purchases, and sellers drop their prices to get out of their home before the festivities begin and family comes to town. On the other hand, the least advantageous time to buy is April.
Interestingly, “October is the only month where all four major professional sports are in season or at least pre-season, and early February, which accounts for two of the five lowest-priced days to buy,” the RealtyTrac staff remark. Which is, of course, Super Bowl time.
If you’re in the market for a new place to host your next Super Bowl party, here are some reasons buy this Fall:
1. Fewer Competitors
The end of summer, travel, last-minute expenses, and the stress of the Fall season can mean fewer families are entering the real estate market. Most families who move tend to try to find a house in the spring or summer to fit in better with the school calendar.
If you’re looking to buy a new home, that means that you have ample opportunity in the Fall. Competition for houses tends to be down, and home-sellers who are still on the market are more amenable to lower offers on their home because less offers are being brought to the table. Check out some Central Texas real estate listings.
2. Upcoming Holidays = Seller’s Fatigue
Most people have settled down by mid-Fall in preparation for Winter and all the approaching holidays that Winter brings with it. But if you’re shopping for a new home, you can use this trend to your favor.
By October and November, most sellers are getting impatient. If families have been trying to sell their home for several months, chances are good that they will accept your offer in October so that they can make the most of their next move before the holiday season. No one wants to have moving boxes under their Christmas tree, so most sellers want to close and move into their new home before the holidays roll around.
3. Save Money on New Appliances
According to Consumer Reports, the best time to buy a refrigerator or dishwasher is mid-November. So if you move into a house in the Fall, you could find the best deals on top appliances around this time of year. Use the imminence of Black Friday to your benefit: if you move in October or November, you can find last year’s top appliance models for incredibly discounted rates, which is perfect for outfitting your new Central Texas home while keeping costs low.
4. Take Advantage of Tax Deductions Before Jan 1
Close on a home by December 31st to maximize tax deductions before the end of the fiscal year to help offset your taxable earnings. Deductions could potentially include (but are not limited to) closing costs, property taxes, and interest paid on your mortgage.
Looking to buy a home in Austin, San Antonio, or the surrounding communities in the coming months? Let a JB Goodwin agent guide you through the market to find the perfect home for your family. It’s what we do best! Reach out today - we’d love to hear from you!Posted by on