Why are the Holidays the Best Time to Buy?
With the holidays being such a family-oriented season, how could it be one of the best times to purchase a new home? Sure, we often partake in the actions of most and save ‘big bucks’ on Black Friday. However, I don’t think many people realize how much you could save while on the search for a new home! Home buying trends prove some of the best deals you can make during the holiday season involve real estate, not a new Playstation 5!
Most do not often think about the housing market during the holiday season, but you may want to start! Many individuals question if it is even worth braving the cold weather when shopping in a market with limited inventory, but the answer usually comes to a resounding yes!
Less is more.
There is an undeniable truth that inventory is low during the holiday season; fewer homes usually means less buyers. When it comes to searching for a new home with less competition, there is a strong possibility that you will negotiate for a favorable price that can save you some cash! If you like additional money to put in your pocket, it may be a good idea to try and get your dream home during the holidays!
When it comes to buying real estate during the holidays, there may not be a bigger form of leverage than the motivation of sellers! Selling your home during the holidays can make for a complicated season, and sellers usually push to have their home sold before the holidays are over. There are a variety of reasons why sellers become motivated to sell during the holidays: job relocation, events in the family, or maybe the desire to move into a 3,500 sq/ft home by Christmas. No matter the reason, this puts buyers at an advantage during this time! Motivated sellers = A great deal for buyers!
Making a home purchase during the holidays does not guarantee lower interest rates, but rates tend to be lower during the holiday season. Yes, this may not be guaranteed, but history tells us that rates statistically drop during this time period. Not due to “Christmas Cheer,” but limited demand. There is less financial business being done in late November-December.
During the holidays, lenders, brokers, realtors, and even inspectors are often motivated to get a deal done before the end of the year. Throwing this into the mix can welcome an attitude of urgency and focus, which can speed up the home-buying process.
The key to holiday home buying is to expect the unexpected. Yes, doing your home shopping during the holiday can bring an abundance of hurdles and stress, but it can also save you some additional cash! If you are interested in buying, call us @ (931) 291-9001!