8 Reasons to Buy VT Property by End of Year.
The end of the year is a great time to buy a home! Here are eight reasons why:
1. Save on Taxes. Closing on a new home by December 31st allows you to deduct costs. Like closing fees, mortgage loan interest, property taxes and loan points on your tax return. There may also be deductions available from repairs, Energy Efficiency Tax Credits and a Home Office
2.Motivated Sellers. Many sellers will also be looking to close this year. They too want to enjoy tax savings on their next home purchase. They may be eager and more flexible in negotiations.
3.Less Competition. Many buyers suspend their search until Spring, every year. And, by November, much of your buying competition also suspended looking for the holidays and winter weather.
4.Affordable Contractors. The winter is a slower season for contractors, electricians, plumbers and roofers. Your new house’s improvements and repairs can be completed, and sooner.
5. Improve as you wish. Your monthly mortgage payment improves something you own. You are adding value to your property now. And you can decorate, update and have all your pets.
6.Wealth Building Equity. Your mortgage payment goes towards paying off your loan. As you pay down principal, your equity goes up. Equity can be valuable when you refinance at a lower rate, or use that equity to upgrade your kitchen. Or, add a garage or replace a roof.
7. Earn Extra Income. If you decide to, you can rent out part of your property to earn money to help pay your mortgage. Accessory Apartment. Barn. Woodlot. Fenced Meadow.
8. Feel the Heat in Real Time. See homes now and you can see, smell, hear and feel what to expect from a home’s heating and hot water systems and insulation. In every space.
More information for first time homebuyers.
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Call us for experienced guidance as your Buyer Broker. 802-635-7766!
* In VT, Buyers’ agents are compensated by/through the Selling agency for MLS listings, and so the fee is already included in the listing price. Ask for details.