Why Buy Now? Advantages of Closing Before Year End

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Real Estate

Real Estate activity typically sees a significant upswing in October for several reasons. House hunting during this time means when you

find the home you want, there is time to close before the end of the calendar year. If it's not exciting enough to anticipate being in a

new home for the holidays, there are some definite financial advantages to closing before December 31st.

✅ Some of your closing costs may be tax deductible. You'll want to check with a tax professional, but these expenses may include

    real estate taxes that you paid when you closed, mortgage interest you paid when you settled, and some points (loan origination fees).

✅ If you move in before the end of the calendar year, you will be eligible for Homestead Exemption on your Real Estate Taxes.

    The value of this exemption varies from state to state, but in Florida, as a permanent resident you could save hundreds of dollars

    in property taxes. Don't forget to check eligibility for special additional exemptions for disabled, widowed and senior homeowners.

✅ Just like car dealers, builders have sales goals and budgets to meet. If you're considering new construction, you may find 4th

    quarter a good time to negotiate for some incentives with a new home builder. And yes, you can make an offer on a new home

    just the way you would on an existing home. Don't be afraid to negotiate. The concession may not always be money; it could be

    an appliance package or an upgrade in flooring at no extra cost.

Colleen Donlevy-Burns, Your Realtor Advisor For Life, is an experienced negotiator. Put her to work for you by calling (407) 325-2873.