MUD Taxes: Understanding the Charges (and benefits!) When Buying in a MUD
Every year, Labor Day signals the end of summer and transition to fall. It’s also a time for football, back to school, and the start of the holiday season.
Did you know that this fall it’s also a great time to buy a home? Here are my top reasons why the fall season is a great time to buy a new home.
More Available Homes
“Quick Move-In” Homes (often called “Ready-Now Homes” or “Immediate-Delivery Homes”) are brand new homes that are constructed using a builder’s most popular floorplans and with the same attention to detail and quality as if they were starting from scratch. All these homes are complete or nearly complete for you to move right in.
For homebuyers, fall makes for a great time to find and purchase one of these Quick Move-In homes because the selection is best during this time of year.
Many new home builders complete and offer more Quick Move-In homes in the fall because it affords customers the opportunity to be in their homes for the holidays and/or before the end of the year.
At M/I, finding one of these homes is as easy as browsing our website!
Financial Benefits
There are many reasons to buy a home this fall based on current financial benefits. From tax benefits, to historical low rates, to building equity, this fall is turning into prime home buying time.
Buying a home before the end of the year allows you to take advantage of various tax benefits from your mortgage payments and property taxes. You’ll want to meet with your tax advisor to learn about which ones apply to you.
Right now, mortgage interest rates are at historical lows. Lower interest rates not only save you money on your monthly mortgage payment, but they will also reduce the amount of interest paid on the life of the loan.
Stop renting and own for less, get more home for your money, or simply get a newer, more efficient home for the same or less than what you are paying on your current home.
Whether you are a first-time homebuyer or a seasoned one, when you own your home, you start to build equity for the future.
The increased equity can be used for additions like a backyard oasis, a pool, or new furniture. In the future it can be used for your next home purchase in the form of a larger down payment or bigger home. A home is a good investment.
Our M/I Financial, LLC and TransOhio Residential Title teams will be with you every step of the way.
If you want to increase your chances of landing the perfect home this fall, do your homework: get pre-approved for a home loan through M/I Financial, then browse our new homes in Indianapolis to find the perfect match.
Seller’s Market
This fall is still proving to be the perfect time to take advantage of a seller’s market.
A seller’s market can be caused by lower home inventory, low rates, and/or high demand. Our area is experiencing all these factors.
With options for both inventory and to-be built homes, M/I has lots to choose from to time your move to fit your needs.
Time to Save for a Home
If you need time to save for a down payment or improve your credit score for better rates, there’s never a better time than the present.
Use this fall and winter to get started on your savings plan and review your monthly spending. You’ll be amazed on how quickly you can save your down payment just by adjusting or eliminating some spending.
Do you have a yearend bonus coming your way? Maybe it’s normal for you to get a generous refund when you file your yearly Federal Tax returns each year. Christmas is coming—maybe you have family members that would love to gift money to you towards a new home versus store-bought gifts.
Your credit score matters, so start early with your M/I Financial Loan Officer. A lot of items can be corrected with time. M/I Financial has access to tools to evaluate how to increase your credit scores, if needed.
M/I Homes would be delighted to help you take the next steps to becoming a homeowner this year! Contact me with any of your questions or to talk about your dream home.
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