You probably have a lot of activities on your to-do list this holiday season. Holiday parties, nights out, community events, and shopping are all great ways to spend your time. But during all the festivities and hustle and bustle, don't forget about that one big item on your wish list…a new home! Many buyers just don't think about shopping during the holidays but it really can be a good idea. Our REALTORS® share why.
- There's less competition.
If you've shopped in the spring or summer and had offers repeatedly turned down or gotten stuck in bidding wars, shopping when there's less competition will greatly increase your chances of getting into a home.
- You can get more home for your money.
Home prices tend to drop during the holiday season. Part of the reason is that sellers whose homes have been on the market awhile decide to drop their asking price in order to get the house sold before the end of the year. That may mean you can afford a larger home or one with more amenities than you could during peak season.
- Sellers really want to close the deal.
Often homes are on the market during the holidays because they have to be: relocation, financial reasons, or major life changes. Those reasons can all mean a home needs to be sold before the end of the year, and buyers can benefit. Sellers may be more willing to negotiate or may have already dropped their price to hurry the process along. Buyers can often get more flexible terms.
- You'll likely get some tax relief.
It won't be a whole year's worth if you close before the end of the year, but every little bit helps. Everyone's financial situation is different, but lots of homeowners can take advantage of property tax or mortgage insurance deductions, or tax credits.
- You can enjoy the holidays or start the New Year in your new home.
This can be an especially attractive situation if you have been renting and not been able to host parties or have friends and relatives visit because you don't have the room, or if you face a rent increase in the New Year.
Shopping for a home any time of year can be a large project. Finding the right real estate agent can make things a lot easier. The real estate agents at Margaret Rudd & Associates have helped many buyers get that new home on their holiday wish list. Contact us today and get started.