The year is coming to a close, and while it’s a great time to relax and celebrate with family and friends, it can also be a great time to buy a home.
So, why does it make sense to buy a home before the new year?
A recent article from realtor.com outlined the benefits of buying a home at the end of the year, including:
- Tax savings. If you close on a home by December 31, you can deduct a variety of house-related expenses — including mortgage interest and property tax — which can help lower your tax burden for the year.
- Builder incentives. Builders have quotas to meet each year. As the end of the year approaches, they may be more willing to offer incentives to buyers (for example, free upgrades) in order to hit those quotas.
- Easier time scheduling. Summer is the busiest time of year to move, which can make it more difficult to book support, like movers or a moving truck. Winter typically isn’t as busy, making it easier to schedule the support you need to move, and potentially score a better deal!