The end of the year is chaotic for most people. Between work commitments, family celebrations, and holiday parties, there is not a lot of free time to be traipsing through the snow looking at houses. Winter is actually one of the best times to buy a house, however.
1. Less Competition: Everyone has a busy schedule at the end of the year. Most homebuyers decide just to wait until the craziness of the holidays is over before resuming their search in the spring. If you power through and shop now, you are less likely to have competition for the house of your dreams. If your market is known for multiple-offer situations, shopping over the holidays may help avoid one.
2. Serious Sellers: Just like buyers, sellers want to avoid the hassle of dealing with a move over the holidays. It's not easy to keep your home spotless and ready for showings when all you want to do is sit on the sofa in your jammies. The sellers that stay on the market through December, however, are serious about selling and selling fast. Whatever the personal reason behind their decision to stay on the market, you can rest assured that they are ready to make a deal.
3. Start Fresh: Each year, we write out a list of goals for ourselves for the year. They may include things like weight loss, vacations, or even relationship goals. They might be easily accomplished or pie-in-the-sky goals. If buying a new house was a goal for you this year, keep shopping so you can cross it off your list this year. Starting the year off fresh in a new house gets you that much further ahead on your to-do list for next year.
4. Interest Rates: Unless you are paying cash for a house, where interest rates are at is important to you. Luckily, home mortgage interest rates are at all-time lows -- for now. No one knows what the Federal Reserve Board will do in the new year, which is another great reason to buy a house sooner, rather than later. You can save tens of thousands of dollars over the life of your loan if you purchase at a lower interest rate.
5. Write-offs: Talk to your tax preparer about any end-of-year write-offs you may be able to claim if you purchase (and close) on a house before the end of the year. Depending on your personal situation, you may be able to reap some nice financial benefits from your purchase.
Power through the busy season and keep shopping for a house this winter. You will be able to sit back and relax in your new home come January.
To learn more about new homes for sale, contact a real estate agent in your area.