There’s no place like a new home for the Holidays! You read that right, buying during the holidays is not a bad thing. You may be wondering why you should add more to your plate during the holiday season.
Here are 6 things to keep in mind if you’re thinking about buying during the holidays:
- Less Competition – The same reasons that are going through your head are going through all the other home buyer’s heads. Its busy, it’s a hassle, there’s already too much to do. Those reasons keep a lot of buyers out of the market this time of year, which means more choices and less competition for you!
- Motivated Sellers – Home sellers don’t enjoy moving over the holidays any more than anyone else. It’s likely that people selling their homes at this time of year are very motivated. They may be facing a change of job or a need to sell and get money before the end of the year. If you combine motivated sellers with less competition, you have great leverage to get a great deal on a new home!
- Lower Prices – Home prices have been rising, partly because of a shortage of homes on the market. However, historically December has lower home prices than any other month, because of all the reasons we have already gone over. There’s no guarantee that this will be the case this year but keep this possibility in mind!
- Faster closings – Everyone involved in a real estate transaction is motivated to get the deal closed quickly. Buyers and sellers want to settle into their new homes. Lenders want to include the loan on the current year’s books. REALTORS® and Brokers want the commission on this year’s income. All of these motivated parties will work hard to make the closing as smooth and quick as possible!
- Motivated Agents – Lower activity in the housing market means real estate agents are dealing with fewer clients this time of year! They have more time to devote to you!
- Related Seasonal Sales – Need new furniture? It’s usually on sale this time of year. Need new appliances? You got it, they’re usually on sale too!
These tips may not be applicable during every year or every market. Buying during the holidays usually provides some advantages to home buyers. Start a conversation with a Three Sixty REALTOR® today to ask about current market conditions and to start your new home search!