Winter is a perfect time for many things: Ice skating, sipping hot chocolate, curling up by the fire, and spending time with family. But the holiday season also offers a window of opportunity for something even more exciting: purchasing a property! Choosing the right time to buy is just as important as finding the right location.
Here are five prime reasons why home buyers should take advantage of the winter season:
The Market Is Less Competitive
With many potential buyers unwilling to move before the holiday season or busy with entertaining, the real estate market transforms into a buyer’s dream. With less competition and fewer bidding wars, buyers are in the driver’s seat when it comes to negotiating a lower asking price. Shopping for houses when the market is slow also means buyers don’t have to rush into making a decision and can more carefully compare homes and choose the best one for their lifestyle and budget.
Sellers Are Motivated To Make A Deal
Sellers who have listed their homes for an unrealistic price in the fall with little luck on the selling-front may be getting anxious to sell come December. With a drop in buyers and fewer offers on the table, sellers are more inclined to negotiate and accept a lower offer then wait until spring to re-list. In addition to the dwindling number of offers on the table, the time and energy needed to prepare a house to sell is difficult to maintain with the holidays quickly approaching.
Outfit Your New Home For Cheap
With new furniture styles typically being released in February, January is an ideal month to take advantage of post-Christmas sales and furniture clear-outs. December and January are also excellent months to take advantage of sales on paint, carpeting, and home appliances as discounts often increase dramatically after Boxing Day.
Save On Moving Day Costs
The holidays are already expensive, so why not save some cash on a huge cost: moving! The hectic holiday season combined with poor weather conditions makes winter a considerably slower time for moving companies. Less demand means many companies offer discounted moving rates and are more likely to meet your scheduling needs. This flexibility allows you to move on your own timeline and have extra money left over to celebrate the season!
End-Of-Year Tax Incentives
Purchasing a home at the end of the fiscal year gives buyers the opportunity to take advantage of several tax deductions next April. Closing the home by Dec. 31 allows buyers to deduct closing costs, property tax, and mortgage interest from their entire year’s savings. These deductions can dramatically reduce the money owed to the government or increase tax refunds.
A beautiful new home is the best gift you could give your family this season!
For over 10 years, AJ Lamba has served over 2,000 clients and is the top agent in the GTA. Our team are experts in helping potential buyers find the perfect property at the best price! Contact us today at (905) 502-9944 to find out how you can take advantage of December’s best housing deals!