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Should You Buy Your Home Before the New Year?

Posted on: in [ General, Home Buying Process, REALTOR ]

Should You Buy Your Home Before the New Year?

If you are in the market to purchase a new home, it can be tempting to put it off until the arrival of the new year. However, doing so can make you miss potential financial and personal benefits. At Northeast Iowa Regional Board of REALTORS®, we offer these important reasons to procure your dream home today.

Limited Competition

With holidays, family reunions and vacations, this time of year can provide a huge amount of distraction for potential home-buyers. Due to this, your competition will be lessened, giving you the chance to capitalize on the market.

Tax Benefits

Buying a home before December 31st can offer important financial benefits as well. By closing prior to the New Year, you can deduct mortgage interest, property taxes, points and your loan and interest costs.

Motivated Market

Both the holidays and potential tax incentives can help work on the other side as well. Sellers would like to start the year fresh by finding a buyer as quickly as possible. Additionally, by selling before the end of the new year, they can enjoy tax incentives on their new home purchase too.

Finding and Improving Your Home

Celebrating your new home purchase at the start of a brand new year can be personal significant for you and your family. This is especially true if you are a first time home buyer. Not only will it be remembered for holidays to come but it allows you to start investing in your future. Holidays offer plenty of deals on home repair products and services. If you are renovating or looking to upgrade your home value or decor, it’s a great opportunity to do so at a limited cost.

This time of year can be hectic but it can also offer great opportunities for the potential home-buyer. To take full advantage, the team at Northeast Iowa Regional Board of REALTORS® is here to help you. Contact us today to learn more.

Homeownership! Building Communities One Dream at a Time. Visit www.IowaRealtors.com.