Whether you’re a skiing fan who is looking forward to having their own home base here in Summit County or you’re considering a vacation home as your next investment property, if you’re thinking about buying a house or condo here, there are few better times than now. Below we’ll share four reasons why you’ll want to get your Summit County real estate purchase started as soon as possible.
The Local Real Estate Market is Starting to Cool
While many of the local real estate markets in Summit County are perpetually busy, in many areas the summer is the busiest time of the year for buying and selling transactions. As the market begins to cool off you may find that there are lower listing prices or less competition for the new homes that go live on the market. Of course, how close to the listing price you pay and how furious the bidding is will depend on a variety of factors, but rest assured that there are fewer buyers out in the autumn that you’ll need to compete with.
Many Sellers Will Want to Close Quickly
If a seller has had their house or condo listed on the market throughout the summer and has failed to sell, they may be willing to entertain discounts or more favorable sales terms in order to get their sale closed. When you work with our team we’ll be able to share how long a listing has been up as well as whether or not the price has been discounted already. Having access to the background information behind a listing will give your offer a better chance of success.
Buying Now Gives You Time to Prepare the Home
If you plan on renting out your home to generate an additional income stream you’ll need some time to prepare it for the busy season. Starting the buying process now ensures that you’ll get any minor upgrades and renovations complete before the ski season is in full swing.
Don’t Forget About Your Year-end Tax Breaks
Finally, don’t forget that buying before the end of 2014 means being able to take advantage of tax breaks and write-offs in this tax year. Depending on the home you purchase and your financial situation, you may be able to take advantage of mortgage interest deductions, discount point reductions and deductions that are applicable for local property and real estate taxes here in Summit County. Be sure to speak with a tax accountant or another financial services professional for some deeper insight as to how much you can save when you buy your vacation home.
As you can see, if you’re interested in buying vacation property in Breckenridge, Keystone, Silverthorne or elsewhere in Summit County now is an excellent time to get the process started. Contact The Smits Team today at (970) 668-2121 or by email and we’ll set up a consultation to discuss your needs and suitable homes.