Three Reasons Why Buying a Home During the Holidays is Ideal
When it comes to buying a home, there is no doubt that the most popular time to buy is in the spring and summer. The housing market in the spring is hot, but does that mean it’s never a good idea to shop in the winter?
We know that it’s colder, and days are shorter but as a home buyer, you may benefit from going against the grain and looking for a home during the holiday season. There are some perks to home shopping at this time – advantages that may make the buying process easier and more productive.
In the spring and summer, there is always a surplus of buyers. This can make it difficult to get an offer on the table in time to secure your dream home. Not to mention, you may end up in a bidding war that can drive up the price on your purchase. Houses move off the market quickly in the spring forcing you to make a hasty choice.
Ideally, you want to be able to find your dream home and not have to worry that it is going to be snatched out from under you by another buyer. In the winter months, sellers are eager to work with you and willing to give you a reasonable amount of time to think through an offer and you don’t have to worry about competing with other buyers.
Most likely, the houses being sold in the winter are going to be priced to sell. This means you will have to do less negotiating because the house will already be reasonably priced. Even then, if the seller isn't getting as many offers they may be willing to negotiate a better price to make the sell. This is especially true if the seller is moving out of necessity.
Additionally, a buyer in the winter can benefit from better mortgage rates. Rates tend to increase in the new year, so take advantage of those lower rates while you still can.
Your realtor can focus on you
Realtors are excited to work with motivated buyers in the offseason! They typically have more time to devote to you and your buying experience. This could mean finding your dream home sooner and at the best price.
Are there any downsides?
Below are some things to consider when buying in the winter:
- Fewer homes for sale means limited choices.
- Less daylight available to go look at homes.
- Not able to see the full potential in landscaping or external appearance.
- Utilities will be more expensive when you move in.
Buying a home in the winter can be significantly easier and faster! There are some great reasons to buy during the holidays if you have time during the busiest season of the year for everything else but the housing market. If you decide to buy, be sure to check out or tips on moving during the holidays!