Wednesday, 3 December 2014

Why to Buy Residential Properties at Year’s End?

Although summers see more of realty transactions but winters can offer your better home buying prospects.If you are a tenant looking for a way out of recurrent house rent then year’s end could be the right moment for you.

Buying residential property in the fourth quarter gives you more choices as compared to other times of a year. To grab the existing opportunities, you must start hunting for a new house with the start of fall because the months further may be dry a bit. Following are two other reasons that support realty purchase at year’s end:

Tax & Cost Saving 
You can save interest and taxes attached to loan if you conclude it by December end. This is how many investors cut down the interest cost and save their spring season tax. Since builders too look for closing books, you can find newly built homes at lesser rates.  
                                                                                
 

 Interested Sellers
 
There are sellers who cannot wait to sell their homes in next season. They prefer saving on next property purchase and are motivated to sell-off the existing one the sooner it can. Such motivated sellers can be found in the latter half of a year only because in peak season, sellers look for preferred buyers who can pay an ideal amount to them. But, to find these sellers, you may need to find the real estate agents first. 

Another convenience you may get on buying house at year’s end is the availability of movers i.e. better in December as summers are usually booked six months earlier. 

Buying a new house may force you to pay most for your income as interest but with time you will gain equity in your property. Also the increase in price will add to this equity and bring value to your investment. 

Consult realty experts, if you want more assistance on buying properties soon. NRIA will keep you up to date on the latest in real estate. Just stay connected to our blog.  


 

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