A Home for the Holidays: 5 Reasons to Buy Now!
Buying a home in the midst of the holiday season might sound like a crazy idea, but the truth is there are good reasons to purchase a home this time of year. Here are 5 good reasons to purchase a home during the holidays:
- Less Real Estate Market Activity - With lots of family, school and work activities happening during the holidays, fewer real estate transactions are taking place. Because fewer people are looking for houses, there is less competition for buyers. And with less competition, buyers have more leverage when negotiating purchases. People selling homes during the holidays must often lower asking prices or make other concessions to sell. So, if you buy this time of year, you might get a bargain!
- Highly Motivated Sellers: If someone is selling their house at the end of the year, it’s because they need to. Usually sellers avoid the end of the year due to shorter days and cold weather, so if they are selling this time of year they are likely under pressure and motivated to make a deal.
- Lower Interest Rates: Because of limited demand during the holiday season, there is greater competition among lenders so there is a general trend of lower rates.
- Tax Perks: Buy a house before the end of the year and you can deduct any points you paid upon closing. You can also deduct property taxes and mortgage interest. Learn about the tax benefits of purchasing a home and find out if it is to your advantage to buy before year’s end. While your decision to buy a home shouldn’t be made solely for tax reasons, you certainly want to take advantage of the perks that exist!
- Faster Closings: Everybody involved in the home buying/selling process has incentive to complete transactions before the end of the year. Lenders want to close their books, Realtors want to receive their commissions before the new year and sellers are anxious to move on. Since everyone is so motivated, and there is less real estate activity, closings should happen quickly and efficiently.
So, if you’re thinking of buying a house anytime soon, don’t wait for the holidays to be over. Contact Desi Sowers at 540-320-1328 and start your home search today!