The holiday season is not the typical time for buying a home...which means that it just might be the best time to do it! If you decide to go against the norm by buying a home during the holidays, you may find advantages that you’d miss out on by waiting until the spring rush.
While it is true that there are fewer homes on the market during the holiday season, you can be sure that the homes that are for sale are listed by serious sellers. Only a serious seller would pick such a hectic time as the holidays to commit to selling their home. More than likely, the seller needs to sell their home quickly and before the beginning the new year for either personal reasons or tax purposes. This means three likely benefits for you:
1. You have greater negotiating power.
2. You may find the seller more willing to come down on price or give greater concessions to get the house sold.
3. You can be assured that the seller is less likely to back out of the sale at the last minute.
Going against the norm means that you will find yourself in a market with few other buyers. That means you’ll be facing less competition because, well, there’s just not that many of you to battle it out. So again while there are fewer homes for sale, you’ll have a much better opportunity to purchase the ones that are listed without a bidding war.
One of the most challenging parts of buying a home is finding a lender that can approve and process your loan quickly and give you a good rate. You’ll find that to be a much smaller challenge during the holiday season. Lenders just aren’t as busy during the winter so often they can get you through the process quicker. You’ll also find that some lenders offer discounts this time of year as they are looking for business. Take advantage of this!
If you are considering purchasing a home this holiday season, the Ferris Property Group would love to help you through the process. We are always here to answer your questions and help you decide if now is the right time for you to buy. Meet the Ferris Property Group team here.