Last week I talked about the advantages of holding an open house over Thanksgiving weekend. This sparked a lot of discussion about the best time of year to buy a new home. Traditionally, summer is the real estate busy season. But that doesn’t mean that fall and winter are bad seasons to buy a home! In fact, there are many reasons why it’s a smart move.
Taking Advantage of Tax Savings
If you close on your house by the end of December, you can take advantage of major tax deductions like mortgage interest, property taxes, and other interest costs. These deductions can be significant, especially at the start of your loan when you’re paying off the most interest.
Highly Motivated Sellers
Chances are if someone is selling their home at the end of the year, they want to take advantage of the same tax savings on their next home. This can make the seller more motivated, more receptive to negotiations, and ultimately lead to a quicker sale.
Availability of Movers
Since the summer months are the busy season, most moving companies have a long waiting list. In the fall and winter, it’s usually easier to schedule movers or rent equipment during these seasons.
If you’re buying a brand new home, you may find that the builders are looking to close their books on the year, as well as meet annual quotas. You may be able to get some upgrades, or even discounts on the work, as an incentive to close before the new year.
If you’re thinking about buying a home in Encinitas, I can help. As the #1 realtor in Encinitas, I can make the experience of finding your dream home as easy as possible.