Did you know that it is possible to buy a Chicago house before the end of the year? When you have the funds available and you reach out to Chicago Home Buyers, we will help you find a property and close on it all before the new year.
As the end of the year approaches, many people are kicking themselves for not hitting the goals they made for themselves. If your goal was to finally invest in real estate, but you haven’t yet made the leap, it’s not too late! Below, we discuss the benefits of buying your investment property as quickly as possible, before the end of the year! Learn more about how to do it in our latest post!
The Effect On Your Taxes
Many people try to squeeze in a property purchase before the new year in order to take advantage of some great tax breaks. If you are buying a property for the first time, you will be able to deduct that on your upcoming taxes. Other deductions you can capitalize on include the interest and property taxes. There are limits and restrictions to these deductions, so make sure you have discussed your plan with your accountant before going through with your purchase.
New Year, New Start
Do you have goals to invest in real estate but you haven’t yet made it happen? When you work with Chicago Home Buyers to buy an investment property, the transaction can be completed quickly, without any delays or red-tape. Imagine going into the new year with property in your investment portfolio? You would be able to hit the ground running in the new year. It will give you a financial edge, as well as a mental one. Imagine the feeling of being able to accomplish something so great before the end of the year?! You would be able to build your confidence, launching you into the year ahead!
Winter Is A Great Time To Buy
While many people shy away from the real estate market during the winter months buying during this time of year can be extremely beneficial for those looking for an investment property in Chicago. With fewer buyers out there, you will have less competition for the investment property you are after. Sellers have a harder time selling, thus making them more receptive to offers brought to them. In many cases, sellers are forced to lower their asking price because of the low response. Another great benefit of buying during the winter is being able to see how the property functions during the winter months. You’ll be able to better inspect the heating, the windows, and if there are any problems with moisture.
Waiting Will Cost You
According to many millionaires, real estate is the best investment that you can make. Hesitating will only end up costing you as you miss out on the potential profits that could be rolling in the door. Set a goal for yourself to purchase your investment property as soon as possible. As long as you do your homework and keep your ducks in a row, buying an investment property in the next couple of weeks could be one of the best decisions you will ever make! We can help you achieve the real estate goals you have for yourself!
Interest Rates Are Low
Right now, interest rates are very low, somewhere around 3.7%. Buying a house with a low-interest rate will save you thousands over the course of the loan. Of course, working with a traditional lender will take longer than paying in cash, the low rates are just another reason why you should be making your real estate purchases as quickly as possible before the interest rates go up again.
With the economy being in tough shape, a great place to put your money is into real estate. People are always going to need a place to live and owning a rental property is a great way to ensure you are making money off of an investment. Many investors will see returns each month and even more when the house is eventually sold. With a volatile economy, putting your money into investment real estate is a great way to keep your money safe while still collecting a profit. For many investors, real estate is the backbone of their portfolio.
What would buying an investment property before the new year do for you? Imagine yourself rolling into the new year with a property in your portfolio?! It would be a great feeling and a great way to start the new year. We would love to help you buy your next investment property. If you act fast, we may even be able to get it all done before the end of the year!