Top 4 Reasons Why It Makes Sense To Buy A Home During The Holiday Season
Wednesday Nov 29th, 2017Share
Don’t buy into the myth … that no real estate sales happen during the holidays. The holidays are a time of clear separation…separation between the buyers who serious, and the tire kickers. OK, we know you're busy enough buying gifts and planning family feasts, but hear us out. While everyone else hit the mall to buy half-off sweaters - you make the purchase of a lifetime: a new house to ring in the New Year.
Check out these surprisingly smart reasons to buy during the holiday season.
1. Less competition from home buyers
Most buyers take the month off to celebrate the holidays, attend parties, host out-of-town guests and, quite frankly, avoid trudging around in inclement weather to look at houses. Whatever the reason, shopping for real estate at a time when fewer buyers are in the market can pay off big. That’s because competing with multiple offers is one of the most stressful parts of the home-buying process, therefore less buyers reduce the risk of multiple offers opening the door for you to purchase the home of your dreams.
2. A realistic picture of the house
What house doesn’t look amazing in the typical spring buying season, with newly planted flowers and plenty of sunlight streaming through the windows? On the other hand, checking it out during the miserable winter season will likely give you a more accurate idea of what you might be living with the rest of the year.
In addition to seeing the house you can check for issues that you'd notice only during cold weather. Inspectors are less likely to catch these issues with the home when they check them out during the spring or summer.
Of course, issues that crop up more during summer will be less accessible—such as how well the air conditioning works or what the roof really looks like under all that snow and ice—so you’ll want to make sure that your home inspector does a thorough job on those fronts.
3. Tax advantages
Buying now can help you save in April and beyond. Homeownership brings numerous tax perks, from deducting mortgage interest to property taxes. Also, many closing fees are tax-deductible if you itemize.
You should always double-check with your accountant about any tax questions.
4. Better Interest Rates
Within the general trend of interest rates, there is often a cyclical trend of lower interest rates during the holidays – not from the generosity of lenders but due to limited demand forcing greater competition among lenders.
There are plenty of factors that can obscure or swamp this cycle, but in general, you should see preferable interest rates around the holidays compared to other times of the year.
The weather may still be frightful, but your opportunities to buy a home around the holidays may be just as delightful.
Photo by Heidi Sandstrom
© 2017, Tonya Brown. All rights reserved