Why You Should Buy a Home During this Holidays
Winter weather and the busy holiday season can drive buyers out of the real estate market, but now could be the perfect time for you to buy your next home. Instead of sitting out the holiday season and restarting the search in the new year, consider being proactive about finding a home now.
• Fewer people are searching for a home during the winter because of adverse weather conditions and being preoccupied with holiday activities. This drives demand down, and sellers often lower their prices if they need to sell their home quickly. Buyers who are willing to shop for a home during the holidays can find deals on homes that may otherwise be out of their reach financially.
• The lack of competition for homes also leads to a decrease in borrowers requesting a mortgage from banks and other financial institutions. A lower interest rate can be enjoyed by buyers who apply for a mortgage during the holidays.
• Any deductions made for tax purposes related to the purchase of a home must be done for the tax year in which the home was purchased. Buying in December will mean realizing tax benefits sooner. Buyers who wait until January will have to wait a year to take advantage of tax benefits.
• Purchasing a home during the holidays gives a family ample time to settle in before warm weather arrives. Warm weather tends to be a time to get outside and relax, and buying a home during the summer cuts into vacation time.
• Sellers who really want to sell their home during the holiday season are aware that buyers are few and far between. Instead of dealing with the back and forth associated with negotiation, buyers who choose to purchase a home during the holiday season often find that sellers are willing to compromise in the buyer’s favor, and closing times tend to be reduced.
It may be tempting to stay at home and relax during the holiday season, but searching for a home to buy this winter can have significant benefits. Take the time to buy a home now, and enjoy your vacation when the summer rolls around.
Happy Holidays 🙂
For more information about Patrick Belhon visit: http://www.patrickbelhon.prudentialcal.com
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