Sunday, July 19, 2009

Matthews - Mint Hill Real Estate

10 Benefits of Buying By the End Of The Year

It is July already, and that means we are already in the second half of 2009! It is hard to believe, but before long we will be celebrating a new year.

If home-buying is on your agenda before the end of 09, then you should be aware that in addition to low interest rates, there are other benefits to buying at the end of the year, including:

Motivated Sellers. Many sellers will also be eager to sell by the end of the year. They too want to take advantage of tax write-offs and move-in before the New Year begins. This means you may have more leverage during negotiations. Since we are in a buyer’s market, this could work doubly to your advantage.

Significant Tax savings. If you close on your new home by Dec. 31, 2009, you can deduct your mortgage interest, property taxes and points on your loan on your 2009 income tax return. You can also deduct the interest costs associated with a home equity loan. These deductions can be significant, especially in the early in your loan when you are paying off so much interest.
‘Tis theSeason. It is common for homes to go off the market around the holidays since many sellers won’t want to move at that time. So October and November are great months to go house hunting, and you will find more motivated sellers then too!

Extra Builder Incentives. If you're buying a new house, you can cash in on builder incentives. Many builders include upgrades to sell as many houses as they can by the end of the year—especially in our current market.
Easier Move. The Charlotte weather is great year-round, so you don’t have to worry about hauling all your belongings through a snow-storm! However, being aware of how the seasons can affect moving is important. For example, many moving companies are booked six or so weeks in advance during the busy summer months. So here in Charlotte the fall and winter are easier to secure a moving company on shorter notice.
Home for the Holidays. Everyone yearns to be home with family and friends at the holidays!

Also, you'll enjoy the many homeownership benefits, regardless of what time of year you buy, including:

Paying for something you own. If you're renting, your rent payment goes toward something that will last you only a month. When you buy a house, your monthly payment goes toward something you own.
Consistent payments. Once you secure a fixed-rate mortgage, you can rely on consistent payments.
Because Purple is your Favorite Color. When you own your house, you can update your kitchen, paint your home's exterior in any color you choose…not to mention additions, landscaping, fixture changes and hanging things on the walls!

As you pay more and more towards your mortgage, you will gradually pay off your principal, meaning you build up equity in your home—an investment in your future!

Call or email me today so I can help you plan for your future.

All the Best

Rich Ferretti

Your Matthews Home and Mint Hill Homes Real Estate Specialist!!!

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