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The Benefits of Relocating Transferees in December

I know that your busy relocation season is usually over the summer. Your transferees’ kids are out of school, so moving them to a new city is easier without having to pull them from the middle of a school year. But companies change and grow all year long.  Business doesn’t stop because of winter weather or holidays – at least not for more than a few days. While your company may not relocate quite as many people over the winter months and the holiday season, that doesn’t mean you don’t have transferees mid-move, looking for a new home in a new city. Luckily, there are several benefits to both relocating and buying a home at the end of the year.

 

Homes are historically priced lower in December than in any other month. Competition is pretty minimal at the end of the year, which would make you think the contrary, but placing a home on the market during this timeof year is usually a sign of a motivated seller which puts the buyer in a great place to negotiate. This is especially great for companies offering home programs since if your transferee is selling a home, they too will be motivated to find a buyer as soon as possible and thus accepting offers more willingly.

 

Secondly, and this is a big one, closing on a home before the end of the month will ensure some great tax savings. If a transferee closes before the 31, they can deduct mortgage interest, property taxes, and points on their loan on their income tax return. This can have a huge impact on transferees’ finances and is a great incentive for them to move quickly. As a side note, this may also add to the seller’s motivation to sell since they will want to enjoy tax benefits as well.

 

If a transferee is lucky enough to have the time and resources to build a new home at destination, you may find that builders are offering some great incentives as well to up their numbers for the year. While it’s important to note that winter weather will impact the actual building time, many builders will throw in extras to motivate people to work with them.

 

Additionally, the moving aspect is easier to coordinate. The summer, as we all know, is the busiest time of year in the moving industry. Movers are usually booked up to six weeks in advance, sometimes more! In the winter months, it’s much easier to book a mover on the desired date and with less notice. Just keep the holidays in mind and understand that most businesses are closed a few days around this time of year. Weekend or holiday moves will be higher in price than a regular weekday. Talk to your preferred  mover about available dates.

 

With inclement weather, end of the year HR responsibilities, and employee holiday parties, relocation benefits may not be on the top of your mind. But that doesn’t mean it won’t come up. More and more companies are recognizing the benefits of relocating employees towards the end of the year.

 

Has your company been moving employees around this season? What benefits (or obstacles) have you noticed? Please share below.

 

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