704-608-4560 call or text for more information
    Flint Foley Real Estate
    • Connect with Flint
      • About
    • SELL
    • BUY
      • GET PRE-APPROVED!
      • LISTINGS
    • RENT
    • Invest
    • Resources
      • Blog
      • Financial Tips
      • Tools & Calculators
    • My Clients & Partners
      • Reviews
      • I Recommend...
      • Featured Business

    Flint Foley Real Estate Blog

    8 Benefits of Buying a House at Year's End

    12/12/2017

    36 Comments

     
    Picture
    Summer may be real estate's busy season, but winter offers great opportunities for buying a house, especially for renters looking to become homeowners, growing families trading up to larger houses and baby boomers seeking homes to fit their evolving lifestyles. 
    Check out this article from Realtor.com on why winter is a great time to buy. Generally speaking, your housing choices during the late fall are still healthy. October and November are great months to go house hunting. December is usually sparse, market-wise, but if that fits your timeline, you could luck out.

    The benefits to buying a house at the end of the year include the following:

    1. Tax savings
    If you close by December 31, you can deduct mortgage interest, property taxes, points on your loan and interest costs. These deductions are significant, especially in the early years of your loan when you're paying off a lot of interest.

    2. Motivated sellers
    Many sellers want to enjoy tax savings on the next home they purchase. They may accept lower bids in order to meet Uncle Sam's deadlines. However, if you're in a strong seller's market, you'll want to be conservative and heed advice from your real estate professional.

    3. Builder incentives
    If you're buying a house that is brand new, there's a good chance builders may push to close the books on their year—and meet quotas. They may offer upgrades or little extras to sell houses before the calendar turns.

    4. Available movers
    Many moving companies are booked six weeks or more in advance during the busy summer months. In the fall and winter, it's normally easier to secure the services of a moving company or rental equipment on shorter notice.

    5. Paying toward something you own
    If you're renting, your monthly check goes toward something that will last you a month: You'll never see any return on that money. When you buy a house, your monthly mortgage payment goes toward an investment—and ultimately a roof that's yours.

    6. Consistent payments
    Landlords can increase your rent. Once you secure a mortgage, you can rely on consistent payments if you have a fixed-rate loan.

    7. Freedom to renovate
    Modernize your kitchen, paint your home's exterior neon orange, change your fixtures or replace your carpeting; whatever inspires you, no one can tell you, "No!"

    8. Gaining equity
    In the beginning, most of your payment goes toward interest. But gradually more will go toward paying off your principal, meaning you build up equity—or savings—in your home. Another factor in equity is appreciation: As home values rise, so does your rate of equity.
    36 Comments
    Millie Hue link
    4/24/2018 07:22:34 pm

    Wow, I never took into account that there are a lot of discounts that builders offer just so they can meet their quotas. A friend of mine recently shared their interest in buying a property this year to finally use his money right and have something that he can call his own. I will surely tell these amazing tips to him, so he'll start searching by December to find better deals. Thanks for the tips!

    Reply
    Sherry Gajos link
    8/13/2018 09:29:40 am

    I like what you said about buying a brand new house at the end of the year possibly meaning the builders may push to close the books on their year and meet quotas. My husband and I want to buy a new home and move soon, so we're considering our options for a new home with updated amenities. Thank you for the information about how builders may offer upgrades or little extras to sell houses before the calendar turns.

    Reply
    Thomas Westgren link
    11/6/2018 06:32:24 am

    I like how you said that buying new real estate is good toward the end of the year because movers are available to help. My wife and I are hoping to move to a new house pretty soon because I am getting a job transfer. We'll have to look into hiring a real estate agent to help us get a new house and to find some god movers as well.

    Reply
    Kit Hannigan link
    11/6/2018 05:35:13 pm

    I really like how you explained how getting a home of your own will mean that you are paying monthly fees towards an investment. My daughter has been doing quite well with his freelancing writing gig. So much so that she tells me that she and her husband are now currently considering to move out of the city and settle down in the suburbs. I will be happy to tell her that moving to a new house will mean that she will have a permanent to stay. That will definitely motivate her more to get a mortgage approved.

    Reply
    Sarah Smith link
    11/7/2018 07:38:37 pm

    It's really interesting that you can save more on real estate property at the end of the year because people would like to meet certain deadlines. This makes me wonder if there are any good properties for sale right now. My husband and I would like to buy or build a new home in the suburbs that we can retire in.

    Reply
    Kit Hannigan link
    12/4/2018 08:15:26 pm

    I like what you said about how sellers may be willing to accept lower bids for their home to meet tax deadlines. My son wants to move out of his apartment and into a place of his own starting next year. He will be happy to know that he may enjoy better deals today if he wants to look around now before the year ends.

    Reply
    Dave Anderson link
    12/27/2018 01:08:49 pm

    That is really nice that many sellers want to enjoy tax savings on the next home they purchase. Maybe I should look for a house with a real estate agent at the end of the year. That is something that I will have to do at some point.

    Reply
    Dave Anderson link
    1/3/2019 02:51:06 pm

    That is a great point that builders may push to close the books on the brand new house on their year to meet quotas. That is something that would be nice so that I could have a better chance of buying a house. Maybe I should start looking for a home to buy through real estate at the end of the year.

    Reply
    Dave Anderson link
    1/4/2019 03:37:49 pm

    That is fascinating that during the fall and winter it is normally easier to secure a moving company on shorter notice. That is something that I would want to have if I were going to move soon. Maybe if I move then I should do it during the fall and winter months.

    Reply
    Dave Anderson link
    1/7/2019 02:07:39 pm

    That is really cool that a mortgage payment is like an investment. Investing in my home basically being mine is something that I would love to have for my family. Maybe I should look into real estate so that I could own a great home at some point.

    Reply
    Dave Anderson link
    1/15/2019 01:17:53 pm

    It would be really cool to buy a house at the end of the year if it will bring me to the motivated sellers. If they are willing to lower the prices so they can meet the deadlines and have tax savings that would be great. Maybe I should contact a real estate agent to help me to find a house at the end of the year.

    Reply
    Dave Anderson link
    1/17/2019 01:22:40 pm

    That is really interesting to me that it would be easier to get a moving company's help at the end of the year. Maybe I should look into buying a house at the end of the year since I could have an easier time getting movers. This is something that I will have to talk to my real estate agent about soon.

    Reply
    Dave Anderson link
    1/18/2019 01:26:03 pm

    Something that I don't want to have is my rent increasing more and more. It would be nice to own a house and just pay the same consistent payments each month. Maybe I should contact a real estate agent to help me to find a house.

    Reply
    Dave Anderson link
    1/18/2019 02:54:56 pm

    That is really nice that I could deduct mortgage interest if I buy the house before the end of the year. That is something that I would love to be able to do. Maybe I should talk to a real estate agent and see what we could do at the end of the year.

    Reply
    Dave Anderson link
    1/23/2019 12:48:15 pm

    If I could have tax savings when buying a house, then I would be so happy. Maybe I should consult with a real estate agent. That way I could find a house to buy at the end of the year.

    Reply
    Dave Anderson link
    1/23/2019 01:50:11 pm

    That is nice there are available movers at the end of the year. Maybe I should look into buying a house at the end of the year. It would be good to consult with a real estate agent.

    Reply
    Dave Anderson link
    1/24/2019 04:22:55 pm

    It would be nice to have consistent payments on a house. That is something that I would love to have. Maybe I should look into buying a real estate property to live it.

    Reply
    Dave Anderson link
    1/29/2019 03:53:56 pm

    It would be nice to buy from a motivated seller. Especially if it were a new house. That is something I want to do sometime.

    Reply
    Sariah Meagle link
    2/25/2019 03:04:24 pm

    I was thinking of buying a home at the holidays so I might do it since I would be able to get some freedom to renovate. If there are available movers during that time, I'll definitely buy at this year's end. Hopefully, I'll find a motivated seller who would let me buy a home by that time.

    Reply
    Sariah Meagle link
    2/26/2019 08:58:04 pm

    Maybe buying a house at year's end would be great if there are available movers during that time. Since the sellers are motivated to sell their house, I could possibly get a good deal out of it. I like that I can pay towards something I own as well so I might contact a real estate company to see which properties are for sale.

    Reply
    Dave Anderson link
    3/5/2019 03:38:46 pm

    That is really cool that winter offers great opportunities for buying real estate properties. That is something I would want to look into so that I could get home soon. Maybe I should look into buying real estate during the winter instead of the summer.

    Reply
    Dave Anderson link
    3/12/2019 05:01:20 pm

    That is really cool that at the year's end, there are more motivated sellers in the real estate market. Maybe I should look into getting a real estate agent to help me find a good house. It would be nice if they could help me to get a good deal on a house.

    Reply
    Dave Anderson link
    3/13/2019 01:24:25 pm

    That is a good point that I would want to have advice from a real estate professional if I were in a strong seller's market. Maybe that is something that I should look into sometime soon. Then I would be able to get some good selling tips for when I sell my home.

    Reply
    Sariah Meagle link
    3/18/2019 01:50:16 am

    I like how you mentioned that buying real estate properties actually helps me with tax savings. I think I'll look for some listings at the year's end since there are many motivated sellers at that time. Since there are many available movers who are willing to offer their service, I'll just buy a home at that time to save money.

    Reply
    Dave Anderson link
    3/22/2019 12:48:41 pm

    It would be nice to have tax savings from buying a home. Maybe it would be good to buy real estate at the end of the year. That is something that I would want to look into soon.

    Reply
    Dave Anderson link
    4/3/2019 03:53:24 pm

    That is a good point that home sellers would want to enjoy the taxes on their new homes. Maybe it would be good to start looking for homes to buy at the end of the year. This is something I am going to have to talk to a real estate agent about.

    Reply
    Bree Ward link
    4/4/2019 12:05:43 am

    I like your idea of buying a house at the end of the year instead of the summer where everything is in great market competition. As you've said it has a lot of benefits like saving on taxes, it has builder incentives, etc. In the event that I get the change to buy a house, I will do it during winter and find the best real estate services in the area to maximize my investment.

    Reply
    Callie Marie link
    4/16/2019 08:12:10 pm

    I didn't realize that you might have a better deal buying a house at the end of the year because the seller wants a tax break on their next home. My husband and I have been renting for years, but we would like to buy a house soon. Since it is still early in the year, we should have plenty of time to find one we like before January.

    Reply
    Dave Anderson link
    4/18/2019 02:41:57 pm

    That is nice that sellers can enjoy tax savings on the next home they purchase. Maybe it would be good to look into finding a real estate agent sometime soon. Then maybe they could help me find a buyer so I can enjoy those tax savings.

    Reply
    Dean Phillips link
    4/18/2019 03:36:58 pm

    I thought it was great how you talked about being able to modernize your kitchen or paint your home's exterior when you buy a house. My wife and I are expecting our second child, so we want to move out of our 2-bedroom apartment and into a larger house. It would be great if we could find a website that can give us a wide variety of options so that we can choose the perfect house for our needs.

    Reply
    Dave Anderson link
    4/18/2019 04:39:45 pm

    That is really nice that towards the end of the year, there will be more movers available. Maybe it would be good to get some real estate services at the end of the year. Then I could hire some movers to help me out.

    Reply
    Camille Devaux link
    4/19/2019 03:53:04 pm

    Knowing that you are getting consistent service and the freedom to renovate are great stipulations for a home. My sister is thinking about getting a residential real estate service to do this. It might be wise for her to look into how to secure a mortgage.

    Reply
    Dave Anderson link
    4/30/2019 04:36:38 pm

    That is a good point that sellers want to enjoy tax savings on their next home. Maybe it would be good to start looking for a home at the end of the year instead of now. Then maybe I could find a seller who was really trying to sell me their home.

    Reply
    Bree Ward link
    5/3/2019 05:38:27 pm

    My sister is planning to buy a house this year and she is looking for affordable ways to do it. Your suggestion in buying one at the end of the year is a great idea for saving money from taxes. As you've said, if you close on December 31, you can deduct mortgage interest, interest costs, etc. I will let her know about this idea.

    Reply
    Sam Li link
    6/13/2019 10:38:02 am

    I love what you said about modernizing your kitchen after buying a cheaper home. Working with a real estate professional is important when it comes to buying the right home. My neighbor wants to get a new home, so I'll help him find a reputable agent to work with.

    Reply
    Eli Richardson link
    9/13/2019 07:21:32 am

    I agree that monthly mortgage payments are part of your investment. My sister has been thinking about renting a home. We will recommend her instead to buy a house, that way her payments will be part of her mortgage.

    Reply



    Leave a Reply.

      Archives

      January 2020
      July 2018
      June 2018
      May 2018
      April 2018
      March 2018
      February 2018
      January 2018
      December 2017
      November 2017
      October 2017
      September 2017
      August 2017
      July 2017
      June 2017
      May 2017
      April 2017
      March 2017
      February 2017
      January 2017
      December 2016
      November 2016
      October 2016
      September 2016
      August 2016
      July 2016
      June 2016
      April 2016
      February 2016
      November 2015
      October 2015
      September 2015
      August 2015
      July 2015
      June 2015

    Picture

    Resources

    • About
    • Blog
    • Tools
    • Reviews

    Contact Me

    704-608-4560

    [email protected]

    Flint Foley Real Estate & Investment Services | Real Estate Agent Charlotte NC 

    Back to top