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Is December A Good Time To Buy A House

By this point in the year, everyone is looking forward to a little time off. No one wants to start their holiday break with tasks hanging over their heads. And that includes lenders and mortgage brokers.

is december a good time to buy a house

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Buying a house at the end of the year can be your last opportunity to take advantage of some helpful tax savings. Of course, buying at the beginning of the year will earn you a bigger write off for deductions like property taxes.

When Forbes Advisor summarized an earlier ATTOM report, buyers could expect to pay market value on some select days in the year, rather than a premium. Now, even with rising mortgage rates, demand still remains relatively hot, at least at the time the report was released in October 2022.

Buying a house is a stressful process. One way to make buying a house easier is starting the process at the right time. In Florida, housing inventory, mortgage rates, and market trends vary from month to month.

In truth, the best time to buy a house really depends on your priorities and situation. Read on to find out which time of year will give you the most options and the biggest savings when buying a house in Florida.

When attempting to time the market, you need to balance two things: inventory and price. In the winter, you're more likely to find a house on the cheap, but there may not be as many houses on the market to choose from. That's because the mediansale price is higher during the summer, so most sellers wait until then to list their homes.

Those who sell in the winter are more likely to be doing so out of financial desperation or immediate need. Sellers in this situation usually won't put any work into the house before selling, so you're more likely to find as-is listings and fixer-uppersduring the winter. That said, there will be some great houses on the market for a low price.

For example, in Florida a typical house is worth $262,000. Assuming a 20% down payment, if you took out a 30-year mortgage for 3.5%, your monthly payment would be $935.But if you shopped around and found a 3% mortgage, your monthly payment would drop to about $884.

Buyers do not need to hire a lawyer to buy a house in Florida. However, it's a good idea to work with a real estate agent who can help guide you through the necessary paperwork. Working with a real estate agent isn't legally required, but unless you're a seasoned real estate professional yourself, you'll likely need the help of a realtor.

In a nutshell, even if you close as late as December 31, that still qualifies you for homeowner-related deductions for that tax year. You may be eligible for more, but these are our top three tax benefits of buying a house in December:

The market traditionally falls quiet in the festive season, with many buyers postponing their searches until the new year, but the imminent demise of the stamp duty holiday has led to more activity than in recent years. But December is still a great time to pick up a deal if you're in a position to move quickly.

Before you begin, get a mortgage agreed in principle that you can use to score points with agents and sellers and find a solicitor who will begin proceeds before you've even found a property. If your conveyancer is on the ball, they can vet your documents such as proof of identity and source of funds ahead of time so when the right place comes along you're already ahead of the game.

No-one wants the unease of not knowing where they are going to be living hanging over them, which means that people on all sides are keen to get everything checked and signed before estate agents and solicitors sign off for the year. Sellers are aware that house prices are hitting a bit of a peak at the moment, so you can still make an offer lower than asking price and get it accepted as they are likely to be making a tidy profit.

With many people postponing their house-hunts until the new year because of the holidays, the number of viewings in December aren't likely to be as high as in other months, so there's a good chance you can find your dream home and put an offer in before someone else does.

Covid-19 precautions are also playing their part. While house viewings are allowed under current restrictions, estate agents are being much more choosy about who they will let in. Some agents are vetting potential buyers before viewings to weed out time-wasters or those not in a position to make a realistic offer. This is good news for serious house-hunters as once you're approved you become a priority to get through the door on hot properties first.

Late summer is the best season to buy a house if you want a shopping experience with enough inventory to find a home you love, while benefiting from sellers lowering prices before the fall. Therefore, the best month to buy a house is August.

Since more buyers are shopping in the spring, a home you buy between March and May could cost you more than a similar home bought in November or December. According to a Zillow analysis of 2016 listing and sales data, 26% of buyers paid above list price in April while in November, just 15% of homes sold above asking price. The window between late fall and early winter is the best time for buyers on a budget.

Fall weather tends to put a chill on home buying. After all, how many sellers want to open their house to buyers who are trudging through the water puddles and brave slick walkways to view properties?

While you can buy any of these things at any time of the year, even in the backdrop of the pandemic's supply chain issues, there really are some months that are better times to make specific purchases.

"The end of the season is the best time to buy clothing," says Trae Bodge, a shopping expert at "For example, tank tops and swimsuits will be deeply discounted in August and September. This can be a good time to stock up on a few warmer-weather essentials that you can still wear through September while the weather is still good."

Kristen Gall, president at Rakuten Rewards, a shopping rewards and cash-back site, says, "September and October are when you'll find steals for seasonal goods like swimsuits, shorts and summer dresses. Sandals, flip-flops and accessories like sun hats and beach cover-ups can also be found at great prices." According to Gall, "This is also the perfect time to snag deals on seasonal outdoor items like camping equipment, pool toys and sports gear."

To secure the best deals on mattresses, whether you're looking for a mattress from an online retailer or a traditional brick-and-mortar store, you'll want to shop on holiday weekends, such as Presidents Day. "Three-day weekends, Memorial Day and Labor Day in particular are a good time to invest in a new mattress. We also see some mattress deals around July Fourth," Bodge says. "You'll find discounts being offered by the big brands, like Serta and Sealy, but also from the smaller 'bed in a box' companies, like Nest, Nectar and Purple."

"The best time to buy TVs is over Black Friday and Cyber Monday," Bodge says. "The discounts will be very deep, especially on last-season's models. Right before the Super Bowl is another time for TV deals. People want to see the big game on the best screen possible, and many retailers will offer promotions around that time."

There are a number of prime times during the year to buy electronics. November, as you get into Black Friday sales, is considered the best time of the year to buy personal electronics, including tablets, gaming systems and laptops. January, shortly before the Super Bowl, is one of the best times to buy a TV, but you can certainly find great deals on TVs during the November and December holiday season.

Consider industry holidays to secure deals. May is "Better Sleep Month," making it an ideal time to buy a mattress, new bedding or a CPAP machine. March is National Crafts Month, and every June 29 is National Camera Day. If you learn about a particular month tied to a product or service, you may find a deal when that "holiday" comes around.

Factor in the day. There are many benefits to making some purchases during a strategic day of the week. For instance, Tuesday mornings and afternoons are said to be the best time to buy airline tickets, according to (but make sure you aren't flying for at least two to four weeks; if it's less time than that, you will probably pay more than you would otherwise); and Wednesdays are good for grocery shopping, according to the recipe website Taste of Home. New sales often come out, and you might find grocery stores still offering sales from the previous week.

Buy in the offseason. If you want to buy a grill, patio furniture or a lawn mower, consider purchasing before the cold weather sets in. For instance, in November, when it's still cold but after most people have purchased their winter gear, Gall says, "apparel retailers will be heavily discounting winter staples to get ready for the inventory they will bring in for next season. Look for great deals on coats, sweaters, boots and cold-weather accessories like scarves and gloves. This can also be a great time to buy cold-weather gear like ski jackets and pants, as well as snowboards and skis."

Please note: The real estate statistics in this article are based on national surveys and data throughout the U.S. Some data may differ based on your location throughout the country, impacting the real estate market trends, climate, and the best and worst times to buy a house.

Best Time to Buy a House: September to FebruaryBased on the 2022 U.S. Housing Market, the best months to buy a house year-over-year are from September through February, the fall to the winter season.

Additionally, sellers who list in January, as opposed to the hottest season from March to August, are more likely to do so for a specific purpose or out of need, such as a death, divorce, or financial difficulties. This can be assumed because they chose to list when property values are at their lowest and risk spending more time on the market. As a result, these sellers are more driven to close a deal quickly, which favors homebuyers searching for a great deal. 041b061a72


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