Wednesday, November 9, 2022 / by Brian Armstrong
Should You Buy a Home During The Holidays?
As we approach winter and the holiday season, you may be looking for a change of scenery and be in the market for a new home! While many others choose to buy in the spring, you may have an advantage in buying during the holiday season! Read on as we unwrap why the holidays are a great time to purchase a home!
Beat the Heat
As we mentioned before, many buyers prefer warmer weather when it comes to home shopping. Spring and summer are some of the busiest months for real estate, while fall and winters always see a slowdown. If you have been keeping up to date with the Vermont real estate market, we have seen quite a bit of bidding wars for homes. During the holiday season, there tend to be fewer buyers in the market, leaving you more opportunities to land your dream home!
Something about the holiday season brings a whole new energy into the mix. Maybe it's the lights, the decor, or more time with those close to us, but that positive mood can help smooth over deals as they come to the closing table! We have been in a seller's market for some time, but as we head deeper into the holiday months, the market is shifting back toward equilibrium! Negotiations will still be tough, but that little extra sprinkle of holiday joy can go a long way toward you purchasing the home of your dreams!
Taking the Deduction
You may know this already but making an end-of-year purchase will allow you to take a tax deduction on your 2022 taxes. Typically, as a homeowner, you are allowed to deduct your mortgage interest, as well as local, state, and property taxes. Make sure to speak with a financial advisor or tax professional so they can help you maximize the deduction for your home purchase!
While Realtors do take time to be with their loved ones during this time of year, they also tend to be less busy. During the spring and summer, real estate agents typically juggle more deals simultaneously, which can mean getting a hold of them can be a bit more challenging. You may find in the winter months you get more undivided attention from your agent, helping you better communicate you find your dream home even faster!
Eyes On the Prize
When the trees and lawn are lush and vibrant it is easy to fall in love with a property! In the winter months, however, you will have the opportunity to see the property in its true glory! In addition to seeing the exterior better, you can also get some insights into the property's interior functionality. Maybe the heating system is loud, drafts around doors and windows, or a lack of insulation in the attic. Keep in mind that while you may be able to see these cold weather challenges, the warmer weather issues will be less visible. Ensure your inspector looks closely into items such as the air conditioner, which likely won't be in use!
Still have questions about the market and your holiday season purchase? We are happy to help! Give us a call at (802) 735-2167 or email us at email@example.com