10 Benefits Of Buying At The End Of The Year
In addition to low interest rates, there are other benefits to buying at the end of the year, including:
Tax savings. Closing on your new home by Dec. 31, 2005, means you can deduct mortgage interest, property taxes and points on your loan on your 2005 income tax return. You can also deduct the interest costs associated with a home equity loan. These deductions are significant, especially in the early years of your loan when you are paying off so much interest.
Sellers might be more motivated. Many sellers will also be anxious to sell by the end of the year so that they, too, can enjoy tax savings on the next home they purchase. That means you may have more leverage during negotiations and they may be willing to...
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