Top 6 Reasons to Buy a House in December
While many people are enjoying the holidays, a handful of people might be considering finding their next home. Even though many consider the warmer months to be the best time to find a home, the colder months are actually a gold mine for those looking to buy. Want to know why? Continue reading to see find out about the top 6 reasons to buy a house in December, compliments of DSEAYCOM!
One of the best reasons to buy a house in December, is that competition is much lower. Many other potential buyers prefer to do their home searching during slower, warmer times and will likely wait out the winter for their next house hunt. Less competition may mean that you will be able to negotiate a favorable price for a home you want to purchase if there are no other offers on the table. It could be a great move to sacrifice a little bit of time during an otherwise very busy time of the year to get a better investment opportunity.
Do not worry about finding an agent during these busier months; agents at DSEAYCOM are happy to work for you during the holidays!
Among the list of our top reasons to buy a house in December, those looking for a more manageable price range will certainly appreciate lower numbers in the colder months.
With fewer buyers in the marketplace, you may not have to fight quite as hard for the available homes for sale. While offers and bidding wars have been at their prime in many areas in the last year, the colder months should cool down, meaning that you may be able to make lower offers that won’t be overbid.
With the holidays well on their way and a new tax year upon us, sellers who put their homes on the market in December might be especially motivated to close the deal and start the New Year fresh.
A great reason to buy a house in December is that there are usually a few sellers who are looking to move quickly; it could be a job relocation, financial hardship, a death in the family or a personal change of circumstance. Regardless of the reason, motivate sellers give you the opportunity to negotiate a better deal, lowball the listing price and ask for a closing date that works with your schedule. If you’re a buyer, that urgency to sell can put money in your pocket.
If a seller is willing to put their house on the market during the holiday season, they really want buyers to come in. If there is a for-sale sign, it's a welcome sign.
Looking for some end-of-year tax deductions? If you close your home purchase before the end of the year, you can deduct certain costs from your 2016 tax return. Purchasing a home in 2016 is good for your bottom line when tax time rolls around. If you close by December 31, you can deduct property taxes, mortgage interest, origination points on your loan and interest costs all while building equity in your home. These deductions can be huge money savers, especially in the early years of your loan when you’re paying off interest.
Remember, mortgage interest costs tend to be especially high in the early years of a home loan. So, this could be a nice last-minute tax break for your family.
Rates are still low
With everyone off celebrating the holidays, December is traditionally a lean month for mortgage brokers. Since there are fewer real estate transactions, loan officers may be motivated to offer special incentives and possibly waive or reduce origination fees. With so few loans in the pipeline, underwriting turnaround times will be quick. You may be able to negotiate a better price with the seller if you’re able to close the purchase in under 30 days.
Individual mortgage brokers might also take some time off at the end of the year, however it would be unusual for a mortgage company or bank to be closed on any normal business day other than Thanksgiving, Christmas Day and New Year's Day.
There’s no need to wait until Saturday or Sunday to cram five house showings into your schedule. Rather than using your precious weekends, take an end-of-the-year vacation day on a weekday to check out the available inventory (especially if your company has a “use it or lose it” policy). Chances are, your agent has some time on their hands as well and would appreciate staying busy throughout December.
If you're a serious buyer, then you’ll definitely want to take some time out of your holiday plans to continue your home search. If a home is for sale, presumably the owners are sincerely interested in buyers coming to see it.
Consider these reasons to buy a house in December and take advantage of the benefits this season! Check out our featured listings for a great deal or give us a call today at 205-248-8373.
At DSEAYCOM, we’re happy to answer any questions you have about buying and selling in the Alabama area. Call us now or feel free to share our contact information with someone you know that needs expert help buying or selling their home.
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