It has been an especially busy season for me so far. My office continues to handle Staten Island real estate transactions at a clip more common to summer months. (And I thank all of my clients for their continued trust.)
This is unusual because outside of those in the retail sector working to meet the consumer demand of holiday shoppers, business tends to wind down during the holiday season. The real estate market is no different. But should that be the case? Below I explore some pros and cons about house hunting in Staten Island during the winter months.
Pro: Fewer buyers = less competition!
Con: Fewer houses on the market 🙁
Pro: Feisty cold weather conditions will allow you to see how your potential home will handle the winter months. No surprises later!
Con: All that snow might impede you from seeing the summer and spring beauty of your new home.
Pro: It’s slow season for moving companies!
Con: Icy weather conditions could make it a hassle to move that big piano.
Pro: With less competition, your real estate agent will have more time to focus on you!
Con: Call your real estate agent ahead of time, because he or she might be out of town for the holidays.
Pro: A slower Staten Island real estate market means that there are less buyers in the market during the holiday season. If you are a buyer, this means less competition and you can hone your negotiating skills as some sellers in Staten Island will be motivated to sell their home by entertaining a lower offer or paying for repairs.
Con: An inspection might be harder to conduct in icy conditions and you’ll need one to have negotiating power.
Pro: If you have family visiting for the holidays from out of town, you can invite them to an open house or to offer their opinion on a potential Staten Island home.
Con: They may not want to do that.
Pro: If you manage to close on your home by the end of the year, you can potentially find items to deduct on your taxes, including interest costs and property taxes. These deductions can add up quickly, which may provide multiple benefits.
Con: You still have to pay taxes.
If you are a prospective buyer and if in the end – after careful thought and consideration – decide that the pros outweigh the cons, I will help you get started. For any questions about real estate transactions in Staten Island, do not hesitate to contact me today.
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This information, based on New York law, was provided courtesy of The Law Office of Christopher J. Arrigali, P.C. It is intended to inform, not to advise. No one should try to interpret or apply any law without the assistance of legal counsel.