How Buying a Home in the Winter Can Save You Money
Winter is a season that is often characterized by frightful outdoors, low temperatures and a wintry mess. But did you know that winter is actually the best time to shop for a house especially if you are looking to save some money?
Here’s how buying a home in the winter can save you money.
1. There Are Fewer Buyers during Winter
If you are looking to save some money when buying a house, then you should start home hunting during the winter season. Since most people are unwilling to look for homes in single-digit temperatures, competition becomes very little. When the buyers are very few, sellers get less attention and this works to your advantage because you purchase a great house for a good price without struggling too much.
2. Its Possible To Get a Better Deal
Compared to buying a house during the summer or spring when the bidding wars are at their peak, winter gives you an opportunity to get a better price since you can negotiate with the seller, especially if he has been looking for a potential buyer for a while. Since there are few buyers in the market it is possible to get a good discount from a seller who is in a hurry to close a sale.
3. Your Realtor Will Not Be Too Busy
Winter is a season whereby most people veg out on their couches watching TV and playing video games. Since there is not much activity and everyone is less busy this is the perfect time to engage your realtor and get him to work harder for you. During winter you will get his undivided attention, therefore, he will have all the time to negotiate harder for a better deal. If you are planning to purchase a house in the shortest time possible, the winter season actually makes your dream possible.
4. You, Will, See the Home in the Toughest Season
Winter can be a tough season for a home. The wind, snow, cold and the moisture can test even the strongest structures’ ability to insulate and protect the inhabitants. When you shop for a home during the winter, you get the perfect opportunity to see the house during the worst conditions possible. This means that you can avoid buying a home that would bring you serious losses in the future.
For example, winter is the best time to test the furnace’s ability to keep the house warm during the cold nights. It is also a good time to check if there are ice dams on the roof. When you buy your house in the winter, you will be able to detect problems that you would have otherwise missed if you purchased the house in the warmer weather.
5. You, Will, Enjoy Some Last-Minute Tax Deductions
If you are buying your first home, you need to know that purchasing in the winter can give you some extra months of tax deductions and tax savings. When you buy a home during the festive Christmas season it can actually be an opportunity to write off your previous year’s taxes. This is because you can deduct the taxes, mortgage interest, and points that are stipulated in the local laws of your state. Talk to a tax and accounting professional first and see how this move can benefit you.