It is not too late to take advantage of these seasonal perks!
Most of us have probably heard that buying or selling a home around the holidays is the worst time to do so. We have to say that we do not agree. Statistics show that a large number of purchases are made during the colder months – even with all the holidays! Some people believe this time of year is too busy to deal with buying or selling a home, but you can use this time to your advantage.
What are some of the benefits of buying or selling this time of year?
- Beneficial tax breaks if you close before December 31st
- Private mortgage insurance premiums
- Real estate taxes
- Mortgage Interest
- Less sellers and buyers = more opportunities for you!
- Mortgage Rate Fluctuations
- Lock in the best possible interest rate before the New Year is here.
- More time off around the holidays
- Things may be a little crazy around the holidays, but most of us have more time off this time of year. Your extra time can be used to look for homes and/or schedule showings.
- Better Deals – Statistics show people who bought their homes during the winter saved tens of thousands of dollars compared to those who purchased in warmer months.
Winter Buyers are Ready to Act Fast
There are people who simply enjoy going to open houses in the warmer months, even if they are not interested in purchasing. Whether it is to get ideas for their own home or to see what other homes are going for near them and their features. When it is colder these attendees tend to stay home, which means you’ll have more serious buyers coming through the door.
Serious buyers can lead to a quicker sale. In the colder months, there are usually less buyers and less inventory in the market. Winter buyers are usually looking for homes because they HAVE to, for whatever their reasoning, which makes them eager and serious to find a home. Those looking for home this time of year typically want to get settled while they have the extra time off and before they have to return to work or take the kids back to school. These buyers are also usually aware of the end-of-year tax breaks.
Beneficial Tax Breaks
Closing BEFORE December 31st can deduct the property taxes, mortgage interest, and interest costs of the loan. Tax laws can limit the amount of deductions, but buyers are typically looking for any way to save money and they know they may not have these options come spring time.
Pro Tips for the Winter Seller:
- Do not go overboard for holiday décor – not everyone celebrates the same holidays and you want potential buyers to picture themselves living in your home
- Take picture of your yard and landscaping when it is in full bloom to display, so buyers can picture the home in prime months.
- Have professional photos done BEFORE decorating – if the home sits for a little while photos with holiday décor can date the images.
- A video walk through of the home would be helpful for out of town buyers that still need to move but may not be able to travel as much to view homes.
- Keep outdoor walkways clean and clear. Salt sidewalks, steps, patios, driveways, and etc. when necessary.
A slow end to the year could be the right time to get you into your dream home. Consider taking advantage of all these benefits by speaking with one of our agents, whether you are thinking of buying or selling a home. The DeSelms Real Estate team is here to bring YOU home.