While summer is often the busiest season in the real estate market, there are many excellent reasons to buy property at the year’s end. There is always inventory to be had, so if this month fits your timeline and you’re ready to look at Palm Springs homes for sale, read on for some other motivating factors.
1. Tax savings. One of the major benefits of buying a house by December 31 is that you can enjoy some substantial tax savings. When you close by the end of the year, you can deduct property taxes, mortgage interest and points on your loan.
2. Better pricing. Many times, you may be able to get a better price on the homes you are looking at because sellers may be more motivated at the end of the year. If they have found and bought their own dream house, they will want to enjoy their own tax savings on their new property. In order to meet tax deadlines, they may consider a lower bid on their home.
3. Savings on moving costs. Spring and summer are typically the busiest months for moving companies and can book up anywhere from a month to six weeks in advance. Less people tend to move during fall and winter, so you’ll be able to book your ideal moving date easier and may be able to negotiate lower prices. The same goes for rental equipment and trucks.
4. Builder incentives. If you buy a brand new home and it needs upgrades or to be built out, you may also be able to negotiate a better deal with builders. They may be pushing to close their own books on the year and meet their quotas.
Inspired to find your new dream home? Click here to view listings of some beautiful Palm Springs homes for sale.