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Despite the cold weather and icy roads, almost a million homes were sold during the winter last year. While more homes do sell in warmer months, there’s no reason to wait till spring if you’re ready to sell now. Here are some advantages to putting your home on the market this winter.
According to the numbers, spring is the most popular season for selling a home. This means the spring market is always overcrowded with options for buyers, forcing sellers to make more concessions on price. The competition over the low inventory in winter months can make winter an ideal time to sell your home.
Most people avoid the cold at all costs, so buyers looking in the winter (and there are a lot of them!) tend to be pretty serious.
Year-end performance reviews and holiday bonuses could mean some people have extra money to spend on a home during the winter months.
The holidays are a busy time for everyone, no doubt. However, the holidays also bring some extra days off work for a lot of people. That means extra time that can be dedicated to finding their dream home.
Year-End Tax Breaks
The tax benefits of buying a home may motivate some winter buyers to find a home before the end of the year. Some of the expenses of buying a home can be written off on the buyer’s taxes, and there are usually multiple tax benefits of owning a home that they can also take advantage of. In general, a homeowner can count on the following being tax-deductible:
· Mortgage interest
· Private mortgage insurance (PMI) premiums
· Real estate taxes
These benefits push some potential home buyers to want to close on a new house before the new year. If you’re selling your home to buy another, you could also ring in the new year with more tax breaks!
Ready to list? Blue Ridge Properties' realtors and real estate agents have you covered this winter. Find an agent here!