What Are the Benefits of Buying A Home Before the End of The Year?
Are you planning on buying a home but aren’t sure if you should plan on buying one now or wait until next year?
In this article, we will share with you three main reasons why you should buy a home before the end of 2018 rather than waiting until next year.
Reason #1 – Interests Rates Are Still Historically Low
Even though we’ve seen several interest rates increases in 2018, interest rates are still historically low. This means that if you buy a home before the end of the year you can get a better interest rate which will also give you a better payment compared to what your payment could be if you wait until next year to get a mortgage loan.
Reason #2 – Motivated Sellers
Another great reason to buy a home during the holidays is that you may encounter some sellers who are motivated to sell their homes quickly rather than waiting until after the holidays.
Working with a motivated seller means a huge opportunity for you because you may get a better opportunity to get a decent price on a home than you would during other times of the year.
If you want to buy a new home, you may also find that more builders are motivated to sell and are offering incentives/extras to buyers who purchase a home before the end of the year because they want to meet their quotas and close out their books.
Reason #3 – Mortgage Interest Deduction
Last of all, another great reason to buy a home before the end of the year is the mortgage interest deduction.
When you own a home, and you have a mortgage, you have the ability to deduct the interest that you’re paying on your mortgage during this time of the year and save on your taxes as well.
Besides the reasons listed in this article, you may also have an easier time booking a mover during this time of year compared to the spring and summer months. Most movers typically are booked up to 6 weeks in advance but they are often available on short notice during the fall and winter months.