Buying a home, no matter what season it is can be a time-consuming and overwhelming process for many. This is especially true if you’re a first-time homebuyer. Though we traditionally refer to the spring as the most booming season to buy a home, house hunting during the holiday season can actually have some clear advantages.
In this overview, we’ll provide an overview of some considerations when looking to buy a home during the holiday season.
Reasons to Buy a House During the Holidays
Purchasing a home during the holiday season actually has some advantages many people may not have considered. Let’s take a look:
Availability of Agents
Most real estate agents are often slower during the holiday season. Typically, December is the slowest season for buying and selling. This means you can use this slow period to your advantage and really utilize all of your real estate agent’s free time.
Mostly everyone involved in the home buying process, such as the bank staff for mortgages, the home inspectors, attorneys, etc, should be very available during this time period. If you want to move promptly on purchasing a home, the holiday season is an excellent time!
Less Competition & Better Deals
If you’re purchasing a home in the spring, which is prime real estate season, be prepared for more competition. Buying a house during the holidays can make it easier to get the home you’ve got your eyes and heart set on. There are fewer people overall looking to buy a home during this time, which means you’ll have less competition.
By purchasing in the winter, you may avoid potential bidding wars that can quickly become stressful. One other consideration is that you might also have an easier time negotiating your desired home price. People are generally more generous and agreeable when they’re in the holiday frame of mind! Take advantage of their joyfulness and use this to your advantage when trying to negotiate the price of your desired home. You may be able to throw in a few contingencies within the sale of the home, such as a fresh new coat of paint!
In addition, many people want to close on their new home before the end of the year. This is because you may be able to itemize certain moving expenses, like real estate taxes or mortgage interest. The tax break might be an incentive for you to get moving quickly on purchasing a home this holiday season.
Back and forth negotiations and bidding wars can take time and slow down the process of buying a home. By eliminating that, in conjunction with the slower season for professionals involved, you’ll quickly be on your way to getting a new home. In general, people like to wrap things up before the holidays, which means they will be moving promptly during the holiday season.
From saving time to less competition, buying a home during the holidays certainly can be an excellent choice. Searching for a home this holiday season? Visit Lantern Real Estate Group to check out listings for homes for sale in your region!