Winter brings a slight change in the real estate market. There are usually fewer units available, however, statistics from last year show that almost a million properties were sold in the U.S the last winter. A higher amount of houses were sold during the summer, but selling and buying homes during the coldest months of the year is possible. In fact, there are some advantages that you can benefit from and ensure a successful property sale while the chilly weather is approaching.
1. Fewer Sellers
Listing your home during the winter will give you an advantage since there is a limited number of sellers in the market. This means that there will be fewer options for possible buyers; competition will narrow down and your property will stand out.
2. More Availability
During the winter break, people usually have more availability to meet with a real estate agent, search online for properties of their preference, schedule home showings or even start the buying process. This is because during the holiday's homebuyers get more time off from work and other responsibilities.
3. Benefit from Tax Breaks
As we said before, selling and buying properties during the winter has its perks, and capturing tax benefits before the end of the year is one of them. Purchasing a property before the new year can write off some of the expenses on their taxes. Besides, there are some taxes that are deductible for homeowners such as:
- Mortgage interest.
- Private mortgage insurance (PMI) premiums.
- Real estate taxes.
There you have it. If you were doubtful and needed a little push to make up your mind in listing your property for this upcoming season, now you know you can go for it!.
Now keep in mind that if you are selling your home during the winter, these tips can be helpful:
- Light outside your house. Since days get shorter during the winter, having illumination on every spot of the exterior of your property can make the difference.
- Don't put up a lot of Christmas decorations. Remember that you are about to sell the house, and it should be easy for a possible homebuyer to see every aspect of it.
- Avoid winter wonderland. Snow can make your home look lovely, however, buyers might find it stressful to get to see the property and its exterior details, so make sure you keep the entrance clean and ready for showings.