Shop for Christmas presents, decorate the tree, and buy a house? That’s right. You might think its nuts to buy a home during the already jam-packed holiday season, but the holidays are actually a fantastic time to score an incredible deal on a new property.
December is typically a very slow month for sellers and they’re more motivated than ever. So whether you’re looking for a new principal residence, a vacation home or an investment property, the holidays are an amazing time to find a killer deal.
Top 5 Reasons to Buy a House During the Holidays
1. Interest rates are usually lower. Experts say that interest rates typically drop every December through January. Combine cyclical drops with already incredibly low rates, and you’re looking at a phenomenal opportunity.
2. Sellers are more motivated. With high unemployment and holiday expenses looming around the corner, many home sellers are especially motivated to negotiate a lower sales price. In addition, many sellers are anxious to sell before the end of the year because it helps on their taxes.
3. Less competition. While everyone else is shopping, traveling and entertaining, smart buyers can score great deals on the most desirable homes. Bypass bidding wars while everyone else is at the mall!
4. Buyer tax benefits. When you buy a new home before the end of the year, you'll be able to report items such as mortgage interest, points, closing costs, property taxes and more on your tax return.
5. Faster closings. Fewer transactions mean faster closings. Experts say that financial institutions and lenders might be more willing to accept offers on short sales properties and foreclosures
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