You might think the last couple months of the year would be the worst possible time to go shopping for a new home.
Most people are way too busy running around to different parties, shopping for crazy gifts for long-lost relatives, and drinking eggnog.
But if you think about it from the reverse angle, the fact that most people are too busy to bother with real estate this time of year could offer plenty of advantages to anyone who actually is looking to buy.
Let’s break down some of the biggest advantages you will find in buying a house during the holiday season!
The simple fact that less people are looking to buy in the fourth quarter means that there are going to be less people competing with you on a property should you choose to make an offer.
Real estate pricing is based completely on supply and demand. So if there is less demand at this particular time of year, prices are going to fall and there is a much better chance that you will get a great deal.
The holiday season is also not the most optimal time to list a house, so anything that is currently on the market has likely been there for a while already. That means that you are going to be dealing with motivated sellers that are looking to finally get their house sold….and might be willing to take a lot less just to do so.
Psychologically, most sellers would love to go into the holidays and the New Year knowing their house is sold or at least under contract, and as a potential home buyer you can use this to your advantage in the last few months of the year.
Since there are less buyers in the market and less deals being done overall during the fourth quarter, you are going to get more attention from just about everyone you work with, from real estate agents and mortgage companies straight through to movers and utility companies.
Your real estate agent will have plenty of time to show you properties and go over options, and you will be surprised how much faster a mortgage company will approve your loan in November or December when they don’t have nearly as many other deals in the works.
Year-End Tax Benefits
Another service that offers a number of advantages during the fourth quarter is tax planning with your accountant. After discussing what your year-end taxes are going to look like, you might find that there is a huge incentive for you to purchase a home and generate some write-offs to limit your tax liability for this year.
Moving into your new home is probably going to require you to make lots of purchases. Luckily, if you are going to need to buy things like appliances and TVs, you can expect them all to be on sale from Thanksgiving straight through to New Years Day. Take advantage of these great holiday sales and save some money on setting up your new home.
Change of Address Cards
One aggravation that comes with the territory of moving to a new home is updating all of your friends and family with your new address. But if you are planning to send them holiday cards anyways, you can kill two birds with one stone at this time of year!
You definitely won’t experience this with everyone you encounter, but there is something to be said for the fact that people in general just seem to be nicer during the holidays.
That means that everyone you are working with through the whole process should be in a little bit better than average mood around the holidays. Who knows, you might even get those grumpy in-laws to help you unpack!
The idea of buying a house and moving during the holidays is not very appealing on the surface. But if you are willing to look past that initial reaction, you will find that there are actually a tremendous amount of advantages to be found during this time of year. Happy holidays!