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Published Date 12/12/2023

. Every year real estate bloggers write about what happens each season. How the “buying season” begins with warm weather and lasts through the summer, and how people take their homes off the market during the winter holiday time. According to Realtor.com’s Anne Miller, however, winter offers great opportunities for buying a house, especially for renters looking to become homeowners, growing families trading up to larger houses, and baby boomers seeking homes to fit their evolving lifestyles. Housing choices during the late fall are still out there, making October and November great months to go house hunting. While December is usually sparse, you could luck out if that fits your timeline. Especially with new construction. So what are the advantages to buying a home at year-end? Are there any? You bet. For one, tax savings. Closing escrow on a house on December 31 enables you to deduct mortgage interest, property taxes, points on your loan and interest costs. “These deductions are significant, especially in the early years of your loan when you’re paying off a lot of interest,” says Miller. It’s also a time of year when sellers are especially motivated. Why? Because they are eager to enjoy tax savings on the next home they purchase. It’s that domino effect. “They may accept a lower bid in order to meet Uncle Sam’s deadlines,” says Miller. “However, if you’re in a strong seller’s market, you’ll want to be conservative and heed advice from your real estate professional.” And how about those builders? They are just selling a house — they’re running a business, and most offer incentives to get buyers on contract. “If you’re buying a brand new house, there’s a good chance builders may push to close the books on their year—and meet quotas. They may offer upgrades or little extras to sell houses before the calendar turns,” Miller explains. Reach out for more! Realtgor, TBWS

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