Home buyers often assume that spring and summer are the best times to buy a home. While it is true that many buyers plan their new home purchase during the warmer months of the year, that does not mean that shopping for a home purchase in the winter—yes, even on Christmas Day—is out of the question! In fact, if you are able to purchase a home now, you will have some advantages of the season!
The real estate market has been strong for quite some time, and multiple offers and over-asking-price sales have become the normal scenario. Competing in this type of market can be frustrating for home buyers.
However, if you buy over the holidays, you automatically cut the competition, as others are busy with holiday plans. While other home buyers have put their purchase plans on hold to decorate their tree or whip up desserts for their parties, you will be making an offer on the home you want!
Sellers are motivated!
Many people who are selling their home during the winter and holiday season are generally doing so because they have to, not necessarily because they want to. If you find a house that is on the market this time of year, you may also get a better price than in spring and summer months because the seller is motivated.
“Home prices typically drop to a lower price in the month of December,” says Tammee McVey from Class Act Property Solutions. “Sellers who keep their home on the market this time of year are often under pressure and motivated to negotiate. The end of the year may be the smartest time of the year to buy a home!”
Your best Christmas gift ever!
Think you might want a new flat-screen television, the latest tablet or laptop, or even a vacation trip for your Christmas present? Think again! What about a new home?! Looking for your new home in December could net you the Christmas gifts of all Christmas gifts—and you may even be able to get that home on Christmas Day!
Because there are fewer home buyers looking at homes in December, shopping for your home near or even on the Christmas holiday is smart. Not only do you eliminate a significant percentage of the home-buyer competition, but people are also generally in great moods and celebrating. Many sellers are also inclined to be generous—even coming down on the price.
The month of December—even Christmas Day—is a good opportunity to buy a home. Thanks to the reduced competition, motivated buyers, and a warm and cheery holiday spirit, you may be able to buy your home faster (and cheaper) than other times of the year.