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There is Still Time To Buy: Year-End Tax Breaks For Homebuyers

Typically, people view the Holidays–Thanksgiving through the New Year–as the “slow season” in real estate. I’ve always believed the opposite to be true. You can find fantastic deals on beautiful homes if you take the time to look (or, more importantly, you have a motivated agent who will take the time to look).

This year, there are more than just great properties urging you to to look at buying a home before 2016 arrives–there are financial ones as well. The real estate website Trulia recently published an article outlining some of the very substantive financial benefits to buying a home in 2015.

Now, I know that the last thing you want to think about is tax day 2016–I’m right there with you–but if you move to buy a home before you ring in the new year you could potentially save yourself thousands (or even tens of thousands) of dollars by taking advantage of deductions.

The Trulia article above gives some good examples of the deductions that you can cash in on before the year is out: deductions for state and local general sales taxes, deductions for mortgage insurance premiums, as well as tax credits for “going green” before the end of 2015.

All of these potential savings, coupled with the Federal Reserve sending clear signals that we should brace for an interest rate hike, it is clear that now is the time to take action. As I said at the beginning, I don’t view the Holidays as the slow season–we are ready, willing, and able to find you a home that you love before the ball drops on 2015.

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