Buying a home is an important decision and should be done carefully to make sure you are getting the best deal. If you want to buy a house then you should know that there are certain times of the year when it is easier to do. If you want to buy a home then doing so during the holiday season is really the best time of the year and here are five reasons why.
1. Buying a home during the holiday season can actually give you a tax deduction. If you purchase a home before December 31 then you are going to be eligible for many different tax deductions related to the interest of the first mortgage payment. There are also deductions available if you pay to lower your loan on the house. You should consult a tax professional before you try to deduct items when you purchase your house but you should know that buying during the holidays will help on your taxes for the following year.
2. During the winter, a lot of people are not interested in purchasing a house which can help reduce your competition. During the spring when everyone is out looking for a house, you might be involved in a bidding-war with another person. If you choose to purchase a house during the holiday season, it will decrease the odds that someone will be in a bidding-war with you over that house. The less competition you have then the more likely you are to get the house you want and without the headache and hassle.
3. Buying a house during the holidays can also be beneficial because you might get the house at a cheaper price than what it is listed as. People get very anxious when they put their house on the market and often times have a specific timeframe they want to move by. If someone has their house for sale during the holiday season this means they are probably getting anxious to move to their new house. If you can get a seller than is ready to move and does not want to live in that house during the holidays, this will increase your chance of negotiation. If you give someone a reasonable offer on their house right before the holidays then you are probably going to have better luck buying that house without having to spend as much money as the house appraised for. Some people might have holiday plans at their new house and just want to get the deal done and over with, so taking advantage of this is a great way to get the perfect house for less.
4. During the holiday season the mortgage industry is slower which means you will likely get better terms for your mortgage. Buying a home during the holidays allows you to pretty much negotiate the terms of your mortgage and other financial terms. Since the lending industry is slower during the holidays, more companies will be willing to negotiate just to get your business. You will be amazed at how many companies will have lower rates or special offers going on during the holiday season and this could be beneficial in the long-term for your house purchase.
5. Buying a home during the holiday season is also great because you can start on making the outside of the house look good before spring. If you buy a house in the spring you often can not plant your flowers or do major landscaping until the following year. If you buy the house in the fall or winter before the holidays, you can get started on landscaping so everything looks good for the spring. Being able to start the landscaping and gardening first thing in the spring can really help a house that has been neglected look a lot better. Buying a house during the holidays will ensure you have ample time and opportunity to think about and start your spring landscaping ideas.