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Why is this a good time of year to make a real estate purchase?

Are you considering spending some of your holiday vacation time shopping for a home or investment property? If so, you'll find that there are a number of advantages.

First, asking prices for homes start out lower this time of year. ATTOM Data Solutions reports that December is the best month to find a good deal on a home.

Because fewer people purchase real estate during the winter than during other seasons, there's less competition among buyers. If you don't have other people making competing offers on a property you're interested in, you are in a good negotiating position with the seller. You can make a lower bid and/or ask for concessions that sweeten the deal for you.

This is a slow time of year for contractors. Many people have family or friends visiting or are traveling. Therefore, they don't choose this time of year for remodeling projects. Therefore, if you want to do some remodeling before you move in or rent out the property, you can likely get a better price from contractors. Movers, inspectors, realtors, lenders and other professionals you may need to employ are in the middle of their slow season as well. That means more attention, faster results and lower rates for you.

Finally, if you're able to close the deal before the end of the year, you can take advantage of mortgage interest and other deductions on your 2019 income tax return.

Florida real estate laws are unique, often confusing and complicated. It's always wise to have an experienced attorney review your contracts as you negotiate the terms and before you sign them. This can help you avoid costly, unpleasant surprises later.

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