If you didn't buy a house in 2014 but you think you might in 2015, earlier is better, especially if you are a first time home buyer. Why, you ask? Because those who buy a home in the first month of the year enjoy a full year of delicious home mortgage interest deductions. Mortgage interest is heavily front loaded so that first year is always a very nice tax deduction. I will of course included my standard disclaimer and suggest that any decision readers make based on taxation should be done under the counsel of a professional tax advisor. That said, buyers can take advantage of a full year of tax benefits and the winter market is generally a little more forgiving on terms. Win, win.
Those of us up in the northern half of the country definitely have a seasonal cycle in real estate. As I have pointed out before, plenty of real estate transactions happen in the winter, but it is about 25% slower and that extra bit of market stress relief can be the difference between a firm seller and a seller with a little room for wiggle.
Get out and brave the elements and find that dream home. We are having a mild winter anyway here in the Northwest. Now is the time!
Musings on the state of the market with tips, information and a little fun.
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