Not many people consider shopping for Mystic CT real estate and buying a home during the busy months that their families are in town celebrating the holidays. The holidays are typically a time to relax, gather with family, and ring in the New Year. However, if you are considering whether or not you should put your house-hunting on hold until after the New Year, you could be hurting yourself. Sure, house hunting during the winter may not sound ideal, but what better way to ring in the New Year than in a brand new home that you got a great deal for?
- Housing Availability – It is important to keep in mind when house-hunting during the winter months of October, November, and December, that although the housing market is slower and can work to your benefit, slower also means less options. There is more of a variety of houses to choose from after the month of February; however, by buying a home during the winter, you are more likely to find a house that you like, which will be thousands of dollars less and that will allow you to make a decision more carefully. During the winter, houses sit longer. This means that you have more time to make a decision on one of the biggest investments of your life. During any other season when the housing market is more aggressive, you may have five other buyers bidding on the house that you love, making it so you either get outbid or you don’t bid fast enough.
- Contingencies – Since houses tend to sit on the market longer during the winter, the process is more relaxed and traditional. During any other season, you may feel extra pressure to put in your offer and close the deal, causing you to waive safety nets like home inspections. On the other hand, during the winter, you don’t have to sacrifice the luxury of complete home inspections before you close.
- Tax Credit – As long as you close on your home before December 31st, you can still use it toward that year’s tax deductions. The normal allowable deductions will be the points, interest, and property taxes that you pay.
- Housing Costs – Depending on where you are moving to, you can research the housing trends for that area. Below are some of the areas median home costs.
The Greg Broadbent Real Estate Team
If you are in the market for real estate especially Mystic CT real estate, Groton CT real estate, Ledyard CT real estate, or Stonington CT real estate, give the team at Greg Broadbent Real Estate a call. We are your local real estate agent near me and have successfully sold many home during the holiday season. Happy holidays!