New Year, New Home? All signs point to YES.
While summer may be Real Estate’s busy season... winter offers great opportunities for home buying, especially for renters looking to become homeowners, growing families who are looking to upgrade, or even baby boomers looking to downgrade to a home that suits their needs.
Still not convinced? Here are 8 great reasons to buy a house in the NEW year.
1. Tax savings
Found the house of your dreams, but on the fence about putting in an offer? Well - if you can feel it in your heart that it’s the right home for you... do it. Because If you close by December 31, you can deduct mortgage interest, property taxes, points on your loan and interest costs! These deductions are significant, especially in the early years of your loan when you're paying off a lot of interest.
2. Motivated sellers
Those who’ve had their house on the market since before we were wearing parkas will be more motivated to SELL their house and less picky about the closing details. Plus, sellers TOO will want to enjoy tax savings on the next home they’re purchasing. They may accept lower bids to meet deadlines... which means, you just might get lucky!
3. Less competition
The market may be less, but, so is the competition. Meaning if you see the house of your dreams, you’re less likely to get disappointed by a “bidding war”!
4. Different buyer demographics
While families are more likely to make their move in the spring, millennials and empty-nesters usually swoop in a bit later in the year. They’re not the only ones, either: to avoid higher “on season” real estate rates, employers who need to relocate their workers often wait for the fall, when the market tends to cool down. These out-of-towners will probably need to get through the process quickly, too, which could mean a relatively speedy closing.
5. Available movers
During the summer, you can be lucky to get a moving truck - or movers - last minute! In the fall and winter, it's normally easier to secure the services of a moving company or rental equipment on shorter notice... Which means no lugging dressers and heavy furniture up 3 flights of stairs for you! (#winning!)
6. Better use of your money
When you rent, your monthly check goes toward something that will last you a month.
You’ll rarely see a return on that money in the short-term. But when you buy a house, your monthly payment goes towards an investment. A roof over your head that you can call your home.
7. Consistent payments
A landlord can raise your rent, just because he or she feels like it. But, when you secure a mortgage you can rely on consistent payments - even if you have a fixed-rate loan.
8. Decorating is a great way to beat the winter blues
After you move in, you’ll want to decorate and turn the “house” into a home with personal touches and decor. Crank up the tunes, and let your creativity inspire you!
How about it? Are you ready to buy a home this Winter? Get in touch today!