2018 has been a roller coaster of a year! If you’re like us, you’re ready to enjoy all the festivities this holiday season has to offer. But you’re also ready to think seriously about what you want to accomplish in 2019.
If you see homeownership in your future, 2019 could be a great year to buy! We’re here to minimize the anxiety of buying a new home and help you make the purchase you’ve been planning for. But even if you’re not yet ready to reach out, there are still things you could do this month to prepare.
Consider these three quick and easy ways to plan for your home purchase in 2019:
1. Skip the major holiday purchases.
A new 55-inch smart television for $199.99? Your dad would love that! An Amazon Echo speaker so your mom answer the phone even when she’s elbow deep in holiday baking? That’s the best gift idea ever! The Apple iPhone XR for $799.99? You deserve to treat yourself this holiday season! Right?
True, holidays are a time for giving. But if you’re saving for a home, you may want to dial back your gift spending this year. In addition to needing a down payment ready and waiting, don’t forget about all the closing costs associated with a home purchase, too. Loved ones will understand, especially if you remind them how magnificent your housewarming party will be later in the spring!
2. Ask Santa for Christmas money instead of gifts.
When Santa checks his list, will he see that you’ve been naughty or nice this year? If you’ve been nice (and, of course you have!), ask Santa to bring you cash this year instead of gifts. Let friends and family know your preference, as well. It may not be fashionable to ask for money, but if you let them know you’re saving up for a down payment, they may oblige.
Remind them that monetary gifts have to sit in your bank account for a few months to be considered “seasoned” funds. If you’re planning your purchase for March or April (or even later), then now is the best time for them to help you meet your goal. Plus, it will be easier for them to help you move if they don’t have to lug around that brand new bread maker you have no interest in using.
3. Don’t forget about your tax refund!
You won’t know how much you’re getting back for a few months, but it pays (literally) to think about your tax refund now. Are you planning on downsizing before your move? Clean out those items now! In addition to freeing up more space in your apartment right now for holiday decor and entertaining, those donations will count toward your taxes for 2018. That’s a potentially higher tax return for you to add to your growing down payment and closing costs fund.
Downsizing now will also free you up from worrying about moving things you know you don’t want to keep. And you’ll have a better feel for how much home and storage space you will need when you purchase. That’s a win-win-win-win!
Ready to start shopping for your new home?
Ready to buy a home in 2019? Start looking for “the one” today!
Search for your ideal community and home on beverly-hanks.com, or contact us today to speak with a Beverly-Hanks real estate agent. Ask for the complementary Beverly-Hanks Buyer’s Guide that walks you through the home buying process, from planning your home search to what to bring on Closing Day.
All real estate is local. In order to make confident real estate decisions, we believe it is important for you to have timely and neighborhood-specific information. If you would like more information about buying a home in 2019, our experts at Beverly-Hanks are here to help. Contact us today to speak with a Beverly-Hanks real estate agent about buying homes and land in Western North Carolina.
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