Advantages of Buying a House in Winter
Whether you’re a first-time homebuyer who is ready to take the plunge into homeownership, or you’re a current homeowner who is itching to make a move, why wait ‘til summer? Yes, it is typically the most popular time to house hunt. That doesn’t mean you should overlook winter, though! Here are the top three reasons to consider purchasing your home in winter:
- The competition isn’t as intense. Just like you might not have considered purchasing your home in winter, many others are in the same situation. The difference? They didn’t take the plunge, you did – and you’re going to reap the benefits. When the masses are house hunting in spring and summer, there’s a higher chance your offer won’t be accepted or you won’t get your first choice. The homebuying population is slimmer in the fall and winter, so you’ll likely be able to take your pick.
- You’ll probably get a better deal. Since there are fewer buyers on the market, sellers are more motivated to make a deal. Houses are often listed at lower prices in the winter due to decreased interest, as opposed to spring or summer seasons. This works to your advantage, as you won’t have to pay as much as you would during the high-traffic season for a house of similar or equal quality. Plus, interest rates and home prices are slowly but surely rising. Purchasing now will help you get more home for less money than you might in a few months.
- Tax benefits. Can you say “tax break”? It’s no secret that homeownership comes with plenty of tax breaks – and rightfully so. As a homeowner, you can deduct your home mortgage interest payments, property taxes, real estate taxes, mortgage points, and more.
Since the calendar year is coming to a close, why not take advantage of the less competitive housing market and purchase your home now? You’ll reap the tax benefits when you file at the end of the year and may have a more seamless experience overall.
An added bonus: If you’re in a colder climate, homes just look so beautiful after a fresh snowfall.
The information provided above is intended for informational purposes only and in no way constitutes legal advice or credit counseling.
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