The winter tends to be a less busy time for home-buying, which in turn could mean potentially lower prices and a longer timeline for sellers. Here are 5 ways to take advantage of the winter market as a home-buyer:
1. Research
Take your time to make sure you know what you want in your home. Location, size, number of bedrooms, proximity to particular school districts, distance from work — create a list of your non-negotiables. This will help make sure you are getting exactly what you and your family need in the next stage of your lives.
2. Negotiation
With this extra time, you can also negotiate with sellers. That may mean a lower price, or changing the conditions of your contract (including furniture, quicker move-in time, and more), or anything else you want.
3. Hiring Movers
In the less busy months, movers usually lower their rates due to less demand. Moving companies may also be more flexible since their schedules are lighter which is helpful in the event of any weather delays, like a snowstorm.
4. Last-Minute Tax Savings
Buying a house at the end of the year can sometimes allow buyers to take advantage of last-minute savings on that year's taxes. Homebuyers can sometimes deduct mortgage interest from their taxes and buyers who itemize their deductions can deduct up to $10,000 of state and local property taxes from their federal taxes. Reach out to your tax advisor to find out exactly what you can accomplish.
