7 Incentives for Buy A Home In December

Buying a home in December is uncommon, but not a bad idea. The buying competition is lower; sellers are a bit more motivated, and the tax at the end of the year benefits. If you are in the market and it’s nearing the end of the year, take a look at the benefits of winter buying, call your agent and let him know you want to pull the trigger.

Bargain Prices

December is a month in which people are frantically shopping, and attending holiday parties which aren’t always for home buying. Let this work in your favor – the marketplace with have fewer buyers, and the homes on the market will be priced to sell, and that means less offers to take away from yours.

Motivated Sellers

When homes are on the market in December, there’s a reason. It could be a few reasons; job relocation, financial troubles, changes of circumstance, or just want to move. In any case, this gives you leverage to negotiate a good deal for yourself. Try lowballing them, and see if you can find a closing date that works best for you.

Tax Benefits

Buying a home this year will look good on your bottom line when tax season rolls around. Closing by Dec. 31st means you can deduct property taxes, mortgage interest, origination points of your loan, and interest costs, the entire time building your equity. The money savers are in the deductions during the early years of your loan when you are mostly paying interest.

Vendor Availability

Moving companies are quite slow in December, which lets you book them in short notice. You can also get the prime time moving slots, and request a little extra effort on their part like bringing blankets and packing materials. You can also use this strategy for other services like repair men, inspectors, etc.

Lending Lull

Mortgage brokers are also typically slow during the winter months, in which case they tend to offer incentives like waiving certain fees. Without a consistent amount of work for them to do, you will also see excellent turnaround times, especially if you can close a deal with the seller in under 30 days.

Building Incentives

If you are a builder, you should ask about building incentives – and builders offer these to close the year with a bang. If big upgrades like new kitchen cabinets, new wood floors, etc. are what you want for Christmas, then December is the month in which you want to buy it all. The last days of the month are important for sales as they won’t sell many at the beginning.

Flexible Schedules

Don’t wait until the weekend to try and go see five or more houses. Use some of your vacation days near the end of the year to go see what is available, especially if your company doesn’t roll over vacation days. Your agent will probably be available as well, and would appreciate being busy during December. 

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