Year End Real Estate
Summer and spring are the two busiest and competitive seasons for purchasing real estate; but, what happens in the winter months?
Benefits of Purchasing Real Estate Year End
If you purchase a house at the end of the year and close on or before December 31st, you’re eligible for mortgage-related deductions. These include deductions for mortgage interest, property taxes, interest costs and points, which can reduce your taxable income by thousands and save you hundreds. You can still take advantage of these deductions if your mortgage closes after January 1st, but you’ll have to wait until the following year when you file your tax return. If you need additional savings for the current tax year, the sooner you buy the better!
LESS COMPETITION FROM OTHER BUYERS
Many moving companies are booked six weeks or more in advance during the busy spring and summer months. The ‘first come first serve’ applies during this time of year. It’s ideal for everyone to have as much time as possible when moving to your new home. Having access to multiple movers gives the buyers time to prepare their belongings as well as getting multiple quotes from different companies. The buyer is not at the ‘mercy’ of the mover.
The end of the year is a great time to become a first-time homeowner or close the sale on that pending investment property, vacation home or future residence.
Owning real estate benefits everyone in the same way…
having a place of your own while building equity for future investments!