Traditional home buying and selling seasons have evolved as a result of instant internet access to property listings. While spring is still the hottest home-buying season, serious home buyers are always on the lookout.
Today’s buyers do the bulk of their home searches online, and that’s especially true when the weather is not so cheerful. This means your online listing and photos are especially important. Make sure you use high-quality photos that show off your home’s selling points.
Competition Dries Up
Come spring, sellers will flood the market and your home will be just another fish in a great big pond. But right now, you’ve practically got the market to yourself.
Since 2014, existing home inventory has fallen an average of 15 percent from November to December. That’s 15 percent less competition on the market if you list your home during the winter. Buyers have fewer homes to choose from, which means you could sell your house faster.
Most folks want to curl up under a blanket next to a warm fire on a cold winter day. If a buyer is trudging around in freezing weather to look at your home, they must be serious. That’s because many winter buyers are working against a deadline, whether it’s an expiring lease, relocation, or a contract on their current home.
Getting Tax Breaks Before Year-End
Winter home buyers may also be motivated to capture the tax benefits of buying a home before year-end.
Home buyers can write off some of the expenses of their home purchase on their taxes. There are usually multiple tax benefits of owning a home they can take advantage of, too. Typically, a homeowner can count on the following being tax-deductible:
- Mortgage interest.
- Private mortgage insurance (PMI) premiums.
- Real estate taxes.
All of these tax benefits could make a potential home buyer want to buy a house and close before the new year. And if you’re selling your home and buying another, you could ring in the new year with more tax breaks, too!
You may think people are less likely to see your home in the midst of their hectic holiday schedules. That can be true, but keep in mind most people have more time off around the holidays. That means more time for browsing their favorite home apps, dreaming about their future decor, and even viewing properties.
Provided by The Premier Group.