Our Blog

Benefits of Selling Your Home Before the End of Year

December 12, 2024
Published by Garrette Custom Homes

Even if your plan is to buy one of the new homes in Auburn WA this coming year, you may be contemplating waiting until the start of the new year to sell your current home. While the housing market can fluctuate based on many factors, you’ll find that there are numerous compelling reasons – including numerous financial reasons – to consider selling your home before the end of the year.

One of the biggest perks to selling your home at the end of the year is the motivated buyer. These individuals might be relocating for work or aiming to complete a purchase for tax benefits. Their sense of urgency can result in quicker offers and less haggling, resulting in a fast and financially solid sale of your home.

These motivated buyers have less inventory to explore, which also works in your favor. With fewer homes available, yours will draw more attention, including the attention of these serious buyers. With limited inventory available, supply and demand could potentially drive up your home’s selling price or at least gain you your asking price. This is why it’s important to make sure your home is priced appropriately. It’s also another incentive to list now rather than wait until spring when competition expands.

Interest rates and local market dynamics may also work in your favor. Banks and other lenders know this is a slower time of year and that can often lead to them offering lower interest rates. Strong demand in your area, paired with relatively low interest rates can lead to more people taking advantage of the current market, creating more interest in your property. Market shifts are unpredictable, so acting now could lead to a better deal.

Selling before year’s end could have significant beneficial tax implications for you and the buyer. Buyers may benefit from deductions in property taxes and closing costs in some cases. As a seller if you’ve lived in the home for at least two of the past five years, you may qualify for a capital gains tax exclusion, reducing your taxable income.

Selling your home before December 31 allows you to start the new year fresh and may benefit you financially. It also leaves you in a better position to purchase one of the new homes in Auburn WA. If you’re looking to purchase a brand new home, contact us today to explore the variety of homes we have that will meet your needs now and well into the future.

Categorized in: Benefits of Selling Your Home Before the End of Year, Benefits of Selling Your Home During the Holidays, Winter Tips

This post was written by Garrette Custom Homes