Perks of Selling Your Home in Winter
Huddle up, home sellers! We are unpacking the perks of selling your home in winter when the air is chilly.
The Internet Has No Seasons
Nowadays, most buyers go online to search for homes, no matter the temperature outside. Last year 93% of home buyers used the internet during their home search. The instant access to property listings impacts the typical season's buyers looking for homes. Even though Spring is still the hottest home-buying season, serious home buyers are always looking for the latest listings on their tablets before going to bed or waiting for their kid's hockey game to end. The weather may change, but it won't stop homebuyers from shopping.
Fewer Sellers
Other sellers will flood the market in Spring, and your home will be just another fish in the ocean. In winter, the number of sellers on the market is limited. For example, 220,000 homes for sale dropped off the market from November to December 2020. The steepest drop all year! If the pattern repeats this year, you will have 17% less competition in the market if you list your house during winter! Homebuyers will have fewer homes to choose from, so you could sell your house faster!
More Serious Buyers
Most want to hide under our blankets beside a fireplace on a freezing winter day. Serious homebuyers trudge around on cold winter days or breaks away from their holiday plans to look at your home because most winter buyers are working against the deadline, whether it's an expiring lease, relocation, or a contract on their current home.
Time Off
Contrary to most home sellers' beliefs, most people have more time off around the holidays. It means more time browsing their favorite home apps, thinking about their favorite home decor, and even scheduling home showings.
Getting Tax Breaks Before Year-End
Homebuyers are also motivated to capture the tax benefits of buying a home before the year ends. A homebuyer can write off some of the expenses on their home purchase on their taxes. A homebuyer can take advantage of several tax benefits of owning a home. Typically, a homeowner can count on the following tax-deductible:
Mortgage Interest
Private Mortgage Insurance (PMI) Premium
Real Estate Taxes
These tax benefits can make a potential homebuyer want to get a house and close it before the new year. And if you are selling your home and buying another, you could ring in the new year with more tax breaks, too!
