Posted by Ken Richter on Tuesday, October 22nd, 2019 4:58pm.
The end of the year is quickly approaching with December just around the corner. While the real estate market is most active during the summer, now is the time you should really be buying.
There are a lot of advantages to purchasing a home before the new year, specifically if that home is new. Whether it is a new home in a developing community or an infill home, closing the deal by December 31st is a great way to leverage your home buying experience to work in your favour.
Buying a new home is a very attractive option for many individuals. There are so many bonuses to buying new, such as the following:
When you buy brand new you are able to work with the property’s building designer to pick wall colours, specific design ideas and all other custom finishings.
New homes are built with the latest and greatest construction materials, which often means new homes are more environmentally friendly. This is good for the environment and for your utility bill.
Buying new means that you will not have to invest a lot of additional money and time in little renovations that are necessary/desired to make your home a safe, welcoming environment.
New home purchases come with a warranty that protects you from things such as delayed closings and construction defects. Since you are the first owner any major issue is, typically, the fault of the original construction.
With a new infill home, you get all of the above bonuses PLUS the knowledge that your property is helping the city before more compact and efficient, so there is less urban sprawl.
Those are the advantages of buying a new home. Here are the advantages of buying a new home before year end:
You will get MAJOR tax savings. When you close by December 31st, you are able to deduct mortgage interest, property taxes and interests costs from your taxes. These are massive deductions that can aid you a lot, especially in the first couple of years of your loan when you need to pay off a lot of interest.
Builders have more incentive to offer extra little upgrades or deals on homes in order to sell them so it looks good in their end of the year books. They want to sell as much as they can, as all businesses do, before the end of the year.
It’s getting cold. Move now, not when it is February and freezing. Plus, you can move in during the holidays when you have more time off work.
Take advantage of this great opportunity to talk to us here at Team Ken Richter today so we can find you your dream house.