Year End Real Estate Tips For Homeowners, Home Sellers & Buyers

Year-End Real Estate Tips For Home Sellers:

As a home seller, if you close before the end of the year, you may be able to offset capital gains taxes by taking advantage of exemptions or deductions tied to home sales. It’s always a good idea to consult a tax advisor.

Year-End Real Estate Tips For Home Buyers: 

When buyers close on a property before the end of the calendar year, they may be able to claim deductions for property taxes, mortgage interest, and other expenses which may provide significant savings when filing taxes in the coming year. It’s always a good idea to consult a tax advisor.  Also, lenders may offer better mortgage rates or discounts on fees at the end of the year in an attempt to meet year-end quotas, which can save home buyers money over the life of their mortgage loan.

Year-End Real Estate Tips For Homeowners:

1. Inspect your roof.   Leaking or collapsing ceilings are a nightmare to deal with, especially in the middle of the winter!
2. Flush your water heaters. This is a relatively easy and inexpensive procedure. Flushing water heaters help to control the buildup of mineral deposits, resulting in a more efficient heater.
3. Service oil or gas heaters.  You should do this annually anyway, but it’s even more important when it’s cold outside.