Advantages To House Hunting At The End Of The Year

At the Villages of Urbana, there are year-round benefits to buying a home in our community – access to both Frederick and Montgomery counties, idyllic small town charm, various shopping and dining options, and outdoor amenities within walking distance of our front doors. But for potential homebuyers everywhere, there are also specific benefits to house hunting in the last few months of the year.

For many people, buying a new home probably isn’t top of mind at the end of the year. But when everyone else is preoccupied with the upcoming holidays, potential homebuyers can take advantage of the perks of buying a house in November and December. Possible advantages to buying before the end of the year include the following:

• Purchasing a home by the end of the year can make you eligible for certain tax benefits. Potential tax deductions include mortgage interest, property taxes and points on your loan, as well as the interest costs associated with a home equity loan.
• Conventional real estate wisdom dictates that spring and summer months are the busiest, so there could be less competition for your dream home in the months at the end of the year.
• Home prices are typically at a year-low in December.
• Slower real estate months can equate to slower months in the mortgage industry as well. If there aren’t as many loans being processed, your loan could move through the process quicker than it would in busier months.
• Moving companies typically aren’t as busy in the fall and winter months, so it can be easier to book their services.
• Homeowners who still have their properties on the market at the end of the year are usually serious about getting their home sold, since they can reap tax benefits from selling before the end of the year. Consequently, they may be more flexible when it comes to negotiation, or could throw in extra incentives for the homebuyer. Of course, at the Villages of Urbana, our new homes allow buyers to avoid the hassle of the “seesaw” negotiation process with a sometimes difficult or unreasonable seller.

If the colder weather doesn’t deter you from getting out and visiting a new homes community, the end of the year can be a particularly good time to buy a new home. And for those looking to buy a home or townhome in Maryland, the Villages of Urbana is an ideal choice. Potential homeowners who decide to buy before the end of the year can take advantage of the benefits listed above – while those fortunate enough to buy in the Villages of Urbana can also enjoy the wonderful benefits of living here, every day.

Sources: MSN Real Estate, Realtor.com, Long Island Newsday, RealtyTimes