Should I buy a house before the end of the year?

As the calendar winds down, many people in Kirkland and the greater Eastside wonder if buying a home before December 31st makes sense—or if it’s better to wait until the new year. It’s a natural question, especially after a busy year in real estate filled with fluctuating mortgage rates, shifting inventory, and constant headlines about the housing market.

While the right timing ultimately depends on your personal situation, there are some consistent advantages to purchasing a home before the year ends.

1. Less Competition, More Breathing Room

Historically, late fall and winter bring a noticeable slowdown in the housing market. Families often put moves on hold during the holiday season, and many buyers pause their search to focus on travel, school schedules, or holiday commitments.

For you, that means:

• Fewer competing offers

• A calmer pace when touring homes

• More opportunity to negotiate on price or terms

In Kirkland, where spring and summer often bring intense bidding wars, the quieter holiday season can be a refreshing change for buyers.

2. Motivated Sellers

Homeowners who keep their property on the market during November and December are often serious about selling. They may need to relocate for work, finalize a move, or simply prefer not to carry the listing into the new year.

This motivation can sometimes work in your favor: sellers may be more open to negotiating closing costs, repair requests, or flexible move-in dates.

3. Potential Tax Benefits

If you close on a home before December 31st, you may qualify for certain tax deductions in the current year, such as mortgage interest or property taxes (depending on your financial situation). While it’s important to check with a tax professional, this could be an added bonus to buying before year’s end.

4. Locking in Rates and Prices

Mortgage rates have been top of mind for many buyers in 2024. While they fluctuate, purchasing now allows you to lock in a rate that works for your budget rather than gambling on what might happen in January.

Similarly, if home prices rise in the new year—as they often do once spring demand kicks in—you may end up paying more by waiting. In Kirkland especially, limited inventory continues to support long-term home values, so securing the right property now could be a smart financial move.

5. Starting the New Year Fresh

There’s also the lifestyle factor: buying before the end of the year allows you to start the new year in your new home. For many, that means settling in before school resumes, getting organized before spring, and enjoying the peace of mind of having the transition behind them.

Final Thoughts

So—should you buy a house before the end of the year? If you’re financially ready, the quieter holiday season can offer unique advantages: less competition, motivated sellers, and the potential for stronger negotiations. Add in the possibility of tax benefits and the chance to lock in your home and rate before the market heats back up in spring, and buying before year’s end could be the right move.

Of course, the decision always depends on your circumstances, budget, and goals. But for many Kirkland buyers, late fall and winter create a window of opportunity worth exploring.