The American dream is to buy a home. Whether it’s a big two-story tutor in the city or a ranch in the country makes no difference, owning a home is a blessing. That place to call home can bring in some great benefits, more so around tax season. Summer is known as the best time to move, but when it comes to perks; the end of the year is the time to buy. Here are some reasons why you should make that purchase happen before the New Year begins.
1. Uncle Sam Gives Back
The tax breaks that a person gets are reason enough to sign on the dotted line. While you cannot claim everything you spend on your taxes, you can write off any mortgage interest that you pay. Don’t forget the deductions for property taxes and points on your loan. If you add all these deductions up, it’s a significant amount to write off.
2. Sellers Are Motivated
Sellers change in the fall and winter months. While they may have held out for top dollar in the spring, their attitude might change in the winter. There usually aren’t as many buyers combing the ads looking for a home in the off season. People get desperate when they don’t have any interest in their home; they may be willing to cut their price considerably. Buyers find that sellers accept offers they would have otherwise rejected in the earlier parts of the year.
3. Builder Incentives
If you are going the route of a new home, you will find many builders offer extra perks to get the deal closed by the end of the calendar year. You may find that you get a carpet upgrade or a few features that weren’t necessarily on the plan before. Also, be sure to ask for more because they are willing to give. Being able to close the year with as many sales as possible is advantageous to their bottom line.
4. Having Something of Your Own For The Holidays
Around the holidays, people become emotional about family and togetherness. Perhaps that new home has a large living or dining space that will accommodate your brood easily, or maybe you just want the liberty to have as many people over without interrupting other neighbors like you would in a rental.
5. An Easier Time To Move
You will find that it is easier to reserve a rental truck this time of year, and there won’t be a rush on moving boxes either. Yes, the fall and winter seasons are the perfect times to move. With a little luck and some hard work, you will find the home of your dreams at the price you want. You may even get those little extra perks like built-ins or an upgraded siding if you buy new.