What is a better present than a new home? Buying a home during the holidays can be a headache with all the activities and cold wet weather. However, there are plenty of positives to buying a
7 Tips To Buying A Home During The Holidays
What is a better present than a new home?
Buying a home during the holidays can be a headache with all the activities and cold wet weather. However, there are plenty of positives to buying a home during the holidays that may make the headaches of moving worth the effort.
1. Less Competition – There are fewer people looking and that means less competition; which can lead to better prices.
2. Motivated Sellers – Sellers don't enjoy moving over the holidays any more than homebuyers do; they may be highly motivated which can lead to better terms for buyers.
3. Lower Prices – This trend is not as prominant as it once was. Traditionally homes went on sale in the winter, but limited invetory is keeping prices up. However, if someone listed in the fall and it's now winter, those prices are falling faster than the leaves, so look for homes that have been on the market for a longer time.
4. Faster Closings – Winter buyers are serious, winter sellers are serious, agents/lenders/inspectors/appraisers are less typically not a busy; so everyone wants the deal to close as quickly and smoothly as possible.
5. Better Interest Rates – Interest rates are still near historical lows. While the average rate on a 30-year fixed mortgage has been rising throughout 2018, it is still under 5%. The Fed has recently backoff talks of increasing interest rates... but what will they do in the Spring?
6. Motivated Agents – Lower activity in the housing market means that real estate agents are dealing with fewer clients. They have more time to devote to your situation, and, with fewer sales commissions available, they may be just a bit more motivated to bring your purchase to completion.
7. Related Seasonal Sales – Need new furniture or other items for your new home? Plenty of seasonal clearance sales will be available to help you apply a personal touch... but don't make any purchases till after the closing!
These tips don't always apply during every year or in every market, but the holidays usually provide these advantages to potential homebuyers. Check out the conditions in the local market and see if you can find the home of your dreams and get a great deal in the process. Don't worry about moving during the holidays. Santa will still find you.
About me: Husband, Father of Three, Former Marine, and Real Estate Professional I began my adventures in real estate in 2006, and have been buying, selling, renting and flipping homes ever since. I l....