It may sound crazy to say, but you truly should consider buying a home during the holidays. We know, we know – you have a million other things to think about during the most wonderful time of the year, but there may be some advantages to purchasing a home at this time, and we’ll tell you why.
You could get a better price
According to a study conducted by ATTOM Data Solutions, you could save up to $2,500 on the sales price of a home if you purchase it on December 26. This may not apply to homes in warmer states, but if you’re buying a home in a state with colder weather, this could be an advantage for you. In fact, multiple advantages:
- Chances for snow, ice and other inclement weather can make it hard for a seller to show their home, and therefore, sell it.
- If a new listing comes on the market in December, someone is choosing to list during that time for a reason, and it may just be that they’re motivated to sell quickly.
- Even if they can’t drop the sales price, they could be willing to throw in a home warranty and cover closing costs.
Easier access to resources
In many industries, December is a slower month which means, better availability to inspectors, movers, title companies, cleaners, etc. In the busy spring and summer seasons, it can take some time to get in line for your inspection or appraisal (especially with these crazy low interest rates we’ve had!), but with better access, this could mean faster closing timelines and maybe a move in before New Years!
Speaking of the New Year…
Purchasing a home in December could help you save money in that pesky tax month of April and beyond. When you own a home, there are many tax perks – deducting private mortgage interest, a home office (many of us have these nowadays!), property taxes and more. We aren’t tax experts, so please talk with your accountant before taking our word on everything, but there are options and advantages for buying during a white Christmas.
Less competition with other home buyers
In warmer, primetime home-buying seasons, you can often end up in a bidding war/multiple offer situation. Around the holidays, you’re definitely up against less competition, and sellers are motivated and open to negotiation, so you have the upper hand.
You know who else is motivated? The Dani Beyer Real Estate team. No matter what time of year, we are ready to help you buy a home, even if that means getting out in the cold weather with you or skipping a Christmas party to write up that contract (who likes virtual parties these days anyway?). Our team of buyers’ specialists is ready for you!