Shopping for a home this holiday season, it’s the buyers season. Savvy buyers know what time of year they should be buying real estate, and this article has summed it up!
- Bargain prices – fewer buyers in the market, less competition.
- Flexible schedules for viewing properties – due to the holidays there are more “free” days to get out and view properties. Agents are also more readily available to show.
- Motivated sellers – if a home is on the market during this time of year, it most likely means the owner has a specific reason or need to sell.
- Tax benefits – if you close by 12/31, when tax time comes around you can save on property taxes, mortgage interest, origination points and interest costs.
- Lending benefits – this time of year, there are not as many loans flying out the door so lenders are more likely to reduce fees. Also, lead time for appraisals are shorter, allowing quicker closings.
- Vendor/contractor availability– moving companies, inspectors, handymen, landscapers, etc are more readily available than in peek seasons and might be willing to negotiate fees.
- Builder incentives– if you are purchasing a new home, builders are more likely to offer incentives to move remaining inventory before the new year. Don’t forget to ask for upgrades and closing costs!