Buying in December?

What is the name of your state? TX

First time home buyer, trying to figure out if there is any benefit (from a tax perspective) of purchasing a new home in December. As I understand it, I'd only be able to deduct the under 30 days worth of mortgage interest and property taxes and whatever points I paid at time of closing -- all of which should be under the standard deduction.

Is there something I'm missing? Any help would be appreciated.

[JETX]

Originally Posted by um...

First time home buyer, trying to figure out if there is any benefit (from a tax perspective) of purchasing a new home in December.

The main issue as I see it... a December purchase would likely not generate enough tax benefit to itemize your deductions, where a purchase earlier in the year might have.

[nextwife]

However, from a SHOPPER standpoint, December is an ideal time to buy.

A. Any homes presently on the market are there because the seller(s) are motivated.

B. The Real estate professionals have more time to spend with you.

C. In areas that freeze and lose leaves, the homes can be best "seen" when the gardens are dead, and the leaves off the trees. If it looks good now, it'll look great in the growing season.

[HomeGuru]

Buying during the winter and during the spring when the snow melts find out that the roof needs replacement and the pool has cracks in it.