For most people, the thought of buying a home during the holidays seems outrageous. Yet, holiday home shopping can present some unique opportunities that you may not experience during peak real estate marketing seasons.
Home Avenue’s flat-fee realtors can also help you find the right home while saving money through our flat-fee service and our cash-back rebates. Below are some reasons why you may want to celebrate the season with a new home.
Less Competition From Home Buyers
Most buyers take the month off to celebrate the holidays, attend parties, host out-of-town guests and, quite frankly, avoid trudging around in inclement weather to look at houses. Whatever the reason, shopping for real estate at a time when fewer buyers are in the market can pay off.
December Sellers Are Motivated
A December seller is likely to be serious and motivated—and therefore more open to negotiation. So what you might lack in a choice of available homes could be balanced out by dealing with a more flexible seller.
Most sellers have a compelling reason for putting their house on the market during the holidays. They might be facing a relocation and want to get their kids settled before the new term. Many sellers might also want a contract in hand for tax advantages. If it’s a rental property on which they incurred a loss, they are likely to want to take the deduction this calendar year, Wasson says.
Another tax-related reason: If sellers are likely to make a profit and have a salary raise set to kick in on Jan. 1, they might be subject to a higher capital gains tax on their home sale in the coming year. In this scenario, sellers may want to unload a property before the new year.
Buying a house now can help you save in April and beyond. Homeownership brings numerous tax perks, from deducting mortgage interest to property taxes.
Also, Many closing fees are tax-deductible if you itemize—although you should always double-check with your accountant about any tax questions.
A Realistic View of the House
Looking at a house during the miserable winter season, on the other hand, might give you a more accurate idea of what you might be living with the rest of the year. In addition to seeing the house, you can check for issues that you’d notice only during cold weather.
Don’t forget, however, that issues that arise during summer will be less accessible during the winter—such as how well the air conditioning works or what the roof really looks like under all that snow and ice. Make sure that your home inspector does a thorough job of inspecting the home prior to purchase.
Flat-Fee Realty Services in Minneapolis
Home Avenue Realtors offer flat-fee realty services that help you save money and put more back in your pocket through our cash-back rebates. To find out more about our products and services, call us at 952-929-7355, or you can send a message to email@example.com.