Gifts for family and friends aren’t the only thing you’ll be buying this holiday season. If all you want for the holidays is a new house but aren’t sure if it’s the right time, check out our top 5 reasons on why you should buy your new home during the holiday season
Believe it or not, purchasing a home during the holidays may be one of the best times of the year to do it. Here is my list on the advantages (don’t worry, after I made this list I checked it twice)
Less competition
The real estate market is typically slower during the holiday months, which could make it easier for you to get the house you want at a lower cost. While you and your realtor are looking for homes, keep in mind that there may be an opportunity to negotiate prices down even more than what they’re listed at since there are fewer buyers in the market during this time. Also, with fewer buyers it is probably not as likely that you’ll have to compete with multiple offers as much as you might during the spring or summer, which is a huge bonus to buying during the holiday season.
Better interest rates
Since the market is a slower during this time that also means that lenders don’t have as much demand either; less demand across banks equals more competition, which could mean more aggressive (and lower) rates for you from top lenders.
Motivated sellers
If a seller is listing their home during the holidays, there is a good chance that there may be something that is requiring that they sell by a specified date; whether it is having to move closer to a new job, expecting a child, etc. If they are in a hurry to sell for whatever reason, you might be able to use that need to your advantage. Make sure to work with your realtor to see if you can negotiate to a lower price, but make sure to be fair.
Faster Closings
If you are buying a home during the holidays, it could work to your benefit that the holidays take place right before the fiscal year ends for a lot of businesses. Why? Because lenders may be more eager to close quickly just because they want to get their books closed. Additionally, the seller will probably be anxious to get moved so they can enjoy the holidays in their new home also.
People are (typically) in a better mood
Yes, the holidays can be stressful. But it is also a time that majority of people are feeling a bit more merry than usual. Yes, there will still be a Grinch or two out there, but if you decide to buy a home during the holidays, chances are you are going to come across a lot of jolly people as well who are in the spirit to help others during this season of giving.
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