If you're looking at buying a home during the holidays, you most likely have the immediate need for a home - be it relocation, or a new job opportunity, or otherwise.While you may think this time of year may not be the best for house hunting, there actually are some distinct advantages for looking.
The Sellers Mean Business
Just like you, home sellers this time of year typically want business to move quickly due to immediate need. This means: a faster negotiation period, and greater willingness on their behalf to agree to concessions. Even if you make a lower offer, they may be more willing than normal to work with you.
Less Competition
Not a lot of people are out looking for homes this time of year, so this reduces your chances of multiple offer bidding wars (which occurs a lot more in the spring and summer). Less competition often means, also, a bigger discount on your housing budget. Work with an experienced real-estate agent in your area to determine what housing price range you could be competitive in this time of year.
Faster Approval of your Mortgage
Lenders aren't as busy this time of year either, so your mortgages will get larger priority and a faster approval. Since it isn't a peak season, some lenders may even reduce their fees to gain your business.
Greater affordability
While housing prices have been rising, they're still typically the lowest in December. Your initial first offers, therefore, may not have to be as aggressive as they would be in a more active season. Buyers will be more willing to work with your price point as well.
Looking at buying a property during the holiday season and need some help? Don't hesitate to send me an e-mail or give me a call.
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