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8 Benefits of Buying a Jersey Shore Home at Year's End

Wednesday, December 31, 2014   /   by Teresa Dipeso

8 Benefits of Buying a Jersey Shore Home at Year's End

Summer may be real estate's busy season, but winter offers great opportunities for buying a shore house,especially for renters looking to become homeowners, growing families trading up to larger houses and baby boomers seeking homes to fit their evolving lifestyles.


Generally speaking, your housing choices during the late fall are still healthy. October, November, December and January are great months to go house hunting.


The benefits to buying a house at the end of the year include the following:


1. Tax Savings


If you close by December 31, you can deduct mortgage interest, property taxes, points on your loan and interest costs. These deductions are significant, especially in the early years of your loan when you're paying off a lot of interest.


2. Motivated Sellers


Many sellers want to enjoy tax savings on the next home they purchase. They may accept lower bids in order to meet Uncle Sam's deadlines. However, if you're in a strong seller's market, you'll want to be conservative and heed advice from your real estate professional.


3. Builder Incentives


If you're buying a house that is brand new, there's a good chance builders may push to close the books on their year -- and meet quotas. They may offer upgrades or little extras to sell houses before the calendar turns.


4. Available Movers


Many moving companies are booked six weeks or more in advance during the busy summer months. In the fall and winter, it's normally easier to secure the services of a moving company or rental equipment on shorter notice.


5. Paying Toward Something You Own


If you're renting, your monthly check goes toward something that will last you a month: You'll never see any return on that money. When you buy a house, your monthly mortgage payment goes toward an investment -- and ultimately a roof that's all yours.


6. Consistent Payments


Landlords can increase your rent. Once you secure a mortgage, you can rely on consistent payments if you have a fixed-rate loan.


7. Freedom to Renovate


Modernize your kitchen, paint your home's exterior, change your fixtures or replace your carpeting; whatever inspires you, no one can tell you, "No!"


8. Gaining Equity


In the beginning, most of your payment goes toward interest. But gradually more will go toward paying off your principal, meaning you build up equity -- or savings -- in your home. Another factor in equity is appreciation: As home values rise, so does your rate of equity.


When you are ready to buy or sell a Jersey Shore home our team is here to help. Call The DiPeso Group today and enjoy summer 2015 in your new beach home!


 


Courtesy Huff Post

Teresa M DiPeso & The DiPeso Group Jersey Shore Real Estate Experts
Teresa M. DiPeso
Long & Foster
Avalon/Stone Harbor/Cape May/Sea Isle/Wildwoods, NJ 08202
609-780-1434

The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity program of the Cape May County Multiple Listing Service. Real estate listings held by brokerage are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity program of the South Jersey Shore Regional MLS. Real estate listings held by brokerage are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.
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