Smart Reasons to Buy a Home During the Holidays
Turkeys and tinsel, dreidels and pumpkin pie. Yes friends, the holidays are here again, and it's the perfect time for ... house hunting? OK, we know you're busy enough planning family feasts and much-needed vacations while dealing with blustery weather, but hear us out. While it might seem counterintuitive to put a big-ticket item like a home on your holiday shopping list, it really does make sense.
Don't believe us? Check out these surprisingly smart reasons to let everyone else hit the mall to buy half-off sweaters while you make the purchase of a lifetime: a new house to ring in the New Year.
1. Less competition from home buyers
Most buyers take the month off to celebrate the holidays, attend parties, host out-of-town guests and, quite frankly, avoid trudging around in inclement weather to look at houses. Or, maybe they’ve heard that this is a lousy time to buy a house. Whatever the reason, shopping for real estate at a time when fewer buyers are in the market can pay off big. That’s because competing with multiple offers is one of the most stressful parts of the home-buying process.
2. Motivated (OK, desperate) home sellers
The December seller is likely to be serious and motivated—and therefore more open to negotiation. So what you might lack in choice of available homes could be balanced out by dealing with a more flexible seller. Most sellers have a compelling reason for putting their house on the market during the holidays. (Let’s face it: It’s no holiday party for them to have strangers wandering through their house.) They might be facing a relocation and want to get their kids settled before the new term. Or they might just be feeling some stress if they listed their home in the fall and it’s still languishing post–Turkey Day, making them just a little more desperate and anxious to deal.
3. Tax advantages
In case you weren't aware, the tax benefits go both ways. Buying now can help you save in April and beyond. Homeownership brings numerous tax perks, from deducting mortgage interest to property taxes. Also, many closing fees are tax-deductible if you itemize—although you should always double-check with your accountant about any tax questions.
4. A realistic picture of the house
What house doesn’t look amazing in the typical spring buying season, with newly planted flowers and plenty of sunlight streaming through the windows? Checking it out during the miserable winter season, on the other hand, might give you a more accurate idea of what you might be living with the rest of the year.
5. Greater accessibility to professionals
“Since December is usually a slower month all around, you will have easier access to movers, inspectors, and mortgage brokers, In addition, motivated real estate agents will bend over backward to provide service with fewer client demands and will share your desire to get it done and in the books before the new year rolls around. Ditto on your mortgage broker, who is bound to speed your closing through.
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