Should I buy a home during the holidays?
Is it a good idea to buy a home during the holidays? While spring and summer tend to see the bulk of home sales, it doesn’t mean they’re the best times to buy a house. Let’s explore the pros and cons of buying a home around the holidays.
The myth about buying in the spring
Contrary to popular belief, springtime can be the worst season to purchase a home.
Sellers tend to mark up their prices when they see the demand for their homes. Also, the flooded market can lead to expensive bidding wars with buyers interested in the same houses. Plus, if you do find a new home during the spring, the closing process can drag out longer than necessary since title companies, inspectors, and movers may not be available during their busiest season.
Why winter holidays can be a better time to buy
Shopping for a home during the winter, and especially during the holidays, offers the following advantages:
1. Homes are priced to sell
Most of the houses you’ll find on the market during winter will be holdovers from the previous seasons. At this point, homeowners may be desperate to sell and will likely be willing to compromise on their asking price. Find out what the home buying trends are during the holidays.
2. Holiday spirit makes people more agreeable
Let this factor work in your favor by shopping for a home during the holiday season. You can walk away with a dream home at a dream price.
3. Fewer buyers on the market
You’ll have less competition when house-hunting around Christmas time. And this less aggressive market will give you an edge in bidding and make it easier for you to negotiate a lower price.
4. Professionals are available
December is usually the slowest month of the year for home sales. And, it can work to your advantage if you choose to buy a home around the holidays. Your real estate agent will have plenty of time to show you around, and the various professionals you’ll need to hire during the home-buying process will be able to serve you promptly as well.
While buying a house during the holidays can be a great idea, keep these factors in mind before starting your search:
- You’ll have fewer homes to choose from in the winter.
- Daylight hours are short, giving you less opportunity for house hunting.
- You won’t be able to see a home’s property in full glory during winter.
- Some sellers may refuse to show homes during the holidays.
- Inclement weather may delay some parts of the home-buying process.
Now that you have the pros and cons of buying a home during the holidays what do you think? Are you ready to buy a new home? Elevate has great options when buying a home, find out more! Have you bought a home during the holidays? Tell us about it in the comments.