From Thanksgiving and Black Friday to all the stresses that come with prepping for Christmas, who wants to add house hunting to the mix?
Well, it turns out that there are huge perks to selling your home during the holiday season. Check these out!
Think about it. The real estate market tends to pique in the spring and summer months. This means that during this time more buyers are going to be sending out offers for the home you’re competing for. With everything going on during the holiday season, people don’t consider looking around as often during November, December, January, and February. And if you live in a cold city and think people are jumping up and down to move in sleet and snow, think again. This puts you at a great advantage to assure you win the home of your dreams!
Listen up, buyers. You will likely get a better deal for the same home if you buy during the holiday season than in peak season. Median sales prices are higher during spring and summer months than in winter months.
Why? Competition, for one. But another reason is that sellers who are selling outside of peak season are likely doing it because they have to, i.e. for corporate relocation or other circumstances. This means that 1) sellers are more motivated to get their house sold, and 2) they are more likely to work with you in the negotiation process. Some sellers are going to be desperate and will do almost anything to get the house in your hands!
Tax Deductions and Lower Interest Rates
These aren’t guaranteed for every case, but you may want to work with a financial advisor to see what tax and interest rate advantages you can get out of buying around the holidays compared to the next year. Generally, you will find a good deal!
Mortgage lenders want to close their books. Real estate agents want their commission. Sellers want the cash. Everyone just wants the sale to close before the end of the year. This might work to your advantage. You already have a negotiating advantage as the buyer in a slow market; but, you can also close on the home more quickly and possibly have your house by New Year’s!