If you’ve been considering a relocation, right now is a great time to make that move. Real estate experts say October is the month when sellers are most motivated and the chance of landing a beautiful new home within your budget is at its 12-month highest.
Upon reviewing more than 32 million real estate sales since 2000, analysts with RealtyTrac analysts concluded that October is the best month to close on a home purchase for three primary reasons:
- Sellers are ready to negotiate: In part, this is because the competition among buyers is at a seasonal low. Families with school-age children are less likely to be in home buying mode because they don’t want a move to disrupt their kids’ studies. Plus, all four major professional sports are in play, meaning that die-hard sports fans are in front of the TV watching their favorite teams rather than pounding the pavement seeking for sale signs. And, with the hectic holiday season upon us, many would-be home shoppers opt to wait until after the New Year.
- Year-end tax perks: The tax code typically incentivizes home ownership and benefits are at their best in the early period of your mortgage. That’s when the bulk of your payment is going to interest, which can be deducted when you file taxes.
- Tell-tale temperatures: When the weather’s cold, it’s far easier to notice problems with a home’s insulation, heating and drainage systems. For instance, you’re more likely to feel a tell-tale draft during a walk-through with a realtor. And, if a quick look upward reveals a piled-high stack of leaves in the home’s gutter system, it may be a sign of lax maintenance on the part of the current homeowner.
No matter the time of year, buying or selling a home can be stressful. When the dotted line is signed and it’s time to pack up and move, leave the stress to us. Call McKendree Moving & Storage at 800-530-2626 for residential moving services to and from the Washington, DC metro area.