Advantages of Selling Your Home In The Fall
Selling your home in the fall has its perks. Don’t be fooled into thinking that the only time of year to sell a house is in May, June and July. Consider why putting your home on the market with Mel Foster Co. now is a great idea.
Buyers Are Motivated
While it’s true that real estate transactions typically slow as summer wanes, it’s also true that buyers still in the market in the fall are motivated. There tend to be fewer personal and professional distractions, allowing buyers to focus on the home search as a top priority. And in the Midwest, the looming winter weather prompts buyers to find a home and close quickly, allowing homeowners more opportunity to sell on their terms.
More Agent Attention
In the fall, sellers often enjoy heightened attention from real estate agents, appraisers, and loan officers, as these professionals typically have more availability. This allows for an elevated, more personalized level of service, making the transaction process smoother and more enjoyable for everyone. Plus, with fewer transactions during this season, lenders can often facilitate faster closings, helping sellers achieve their goals more quickly.
Fall Curb Appeal At A Peak
Autumn’s vibrant colors and variety of seasonal décor options allow sellers to really pump up the curb appeal. Pumpkins, mums, a seasonal doormat, and throw pillows on your porch furniture can create a welcoming, cozy first impression of your property. And since homes with good curb appeal can sell for 7% more on average than homes with less-welcoming exteriors, maximizing this time of year to sell is simply a smart decision.
End-Of-Year Tax Benefits
Closing before the end of the year has great benefits for sellers.
- Selling costs like legal, escrow, advertising, agent commissions and home staging fees are tax-deductible if they make your home more marketable so you can ask for a higher sales price. Other tax-deductible costs include painting the house, repairing the roof or replacing the water heater as long as those upgrades are made within 90 days of the closing.
- Capital gains are profits from selling your home. While these profits are taxed as income, you can exclude up to $250,000 if single and $500,000 if married from these gains as long as you lived in your home for at least two of the past five years.
- You can deduct the amount you paid in property taxes last year up to $10,000 once you’ve sold your home.
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