Whether you’re looking for your first home, downsizing, or need something larger to accommodate your growing family, you may be considering a new house. However, you may also be leery of buying that house now when the holidays are all about to hit. Depending on your unique situation, you may find that buying now is the right answer or you may be better off waiting. Here are some pros and cons of each.
Pros of Buying a New Home Before the Holidays
There are plenty of reasons why now is the perfect time to get a new house. Here are some of the most persuasive:
- You Can Create Lasting Memories in Your New Home
Obviously, if you’re looking for a house, there’s something wrong with the one you currently have. Maybe there’s not enough room or your kitchen isn’t doing the job, or you’re simply ready for something bigger and better. Whatever the reason, you’d probably like to celebrate the holidays with your family in the home of your dreams. If you pull the trigger now, you could be settling in before the turkey comes out of the oven.
- You Can Take Advantage of Year-End Tax Benefits
If this is your first home, you might as well get into it before the first of the year so you can take advantage of the tax benefits. These include deducting your mortgage interest and property taxes, which could possibly save you some money that you could put toward gifts!
- You Can Avoid the Rush
Usually, the months right before and after the holidays are a little slower in the housing industry and everyone starts looking again in the spring. That means you could score a good deal or get an offer accepted that normally wouldn’t be when there’s more competition.
Cons of Buying a New Home Before the Holidays
Of course, not everyone will find it beneficial to look for and buy a new home this time of year. Here are some reasons why it might not be a good idea for you.
- Added Stress
The holidays are already a stressful time of year. If you’re planning to host Thanksgiving (and your current home is adequate) or you’re stressed about extra expenses when your holiday budget is already tight, you may not want to add the stress of house-hunting, negotiating, and moving to your plate.
- There May Not Be a Lot of Inventory
Because a lot of people list their homes in the spring, you may find the selection a little sparse this time of year. Of course, it never hurts to look. But if you’re not seeing anything you like, you may find that spring is a better time to find your dream home.
- You’re Downsizing
Selling the home where your kids grew up because you’re empty-nesters and ready to cut down on costs and space? You may want to spend one last holiday in your family home instead of making the move now. Take a lot of pictures, invite the kids to share their favorite memories of the house, and bid it a family good-bye after your holiday celebrations.
The Right Choice for You
Buying now or waiting until after the first of the year is a personal decision and you need to take your unique situation into account before making it. You can always visit with a real estate agent or another expert in the real estate industry to ask for guidance if you’re not sure the right direction to go. Happy holidays from all of us at Trustworthy Title!