The holidays a great to spend time with family, but they’re also a great opportunity to snag an incredible real estate deal. If you’re willing to brave a market with limited inventory during one of the busiest times of the year, you could buy your dream home at an unbeatable price. When deciding to move, consider using these holiday home buying trends to your advantage.
Less Is More
During the holiday months, you’ll be battling against a limited inventory as well as fewer lenders, agents, and inspectors than usual. However, despite these obstacles, you will have the advantage of less competition. If you find a property you love, you will have greater negotiating power due to the lack of multiple offers.
The Motivated Seller
Those selling during the holidays are most likely doing it out of necessity and therefore are highly motivated to move the process along as quickly and smoothly as possible. Working with a motivated seller means lower prices and fewer hoops to jump through.
Lower Interest Rates
Although rates cannot be guaranteed, historically, interest rates tend to be lower towards the end of the year. Once again, the lack of demand and competition can play to your advantage by potentially securing more favorable financing during the holiday months.
Faster Closings
When you buy during the holidays, you may find that people are more eager to complete the deal. Lenders, agents, and inspectors are looking to tie up any loose ends before the close of the year. This could result in your closing process being streamlined.
Although there will be several hurdles to overcome when you buy a home during the holiday season, the rewards may outweigh the inconvenience. If you’ve been on the fence about packing up before the new year, maybe it’s time you take the leap. If you do decide to move, here are some days to avoid.