The end of the year serves as a great time for buyers to purchase a home. Whether you are a renter looking to become a homeowner, are in search of a newly constructed home or need a larger home to accommodate your family, there is a home in the La Jolla real estate market to suit your needs. Buyers who are looking to purchase near the end of the year enjoy a few benefits they may not have previously considered.
One of the major benefits of buying a home near the end of the year is the tax savings. Homeowners who close on a newly purchased home by the 31st of December can deduct mortgage interest and interest costs connected with home equity loans in La Jolla. Closing before the 31st also enables homeowners to deduct property taxes and points on their income tax return. Making these deductions in the early years of a home loan when individuals are paying off high interest rates can be extremely beneficial in the long term.
Buyers who are looking to purchase a home that has recently been built can also look forward to incentives offered by builders. Near the end of the year, builders typically want to close the homes they currently have listed on the market and will throw in extras or upgrades to motivate buyers such as granite counter tops, finished basements, and included or new appliances. Small monetary incentives such as price reductions or offers to help pay for closing costs are also more common by builders at the end of the year.
Finally, it is simply easier to move near the end of the year. With many homes being purchased during the summer months, many moving companies are booked weeks or months in advance. If you are moving during the fall or winter season, it is easier to find a moving company that will fit your budget and particular time frame.
From first time home buyers to seasoned veterans, by purchasing real estate in La Jolla near the end of the year, buyers have the opportunity to reduce the overall cost of buying a home and later enjoy the town’s convenient central location, luxury shops and award-winning restaurants.