Are the holidays a good time to buy real estate?
You’ve gone Black Friday shopping and now everywhere you see are sales, sales, sales. Did you know now could be a great time to get a deal on what you really want? Is a new home at the top of your loved one’s wish list? Or perhaps you are looking to buy your dream home, weekend getaway or investment property. Real estate is a great gift for yourself or a loved one and you don’t have to put it off until next year. Who says house hunting during the holidays needs to be a headache? There are many benefits to buying a home at year’s end.
1. Price Reductions & Discounts
First off, those sales you’ve been seeing? Count on discounts in the housing market as well. Look for upgrades, price drops, money toward closing costs and motivated sellers willing to negotiate.
2. Motivated Sellers
Homes that are on the market during the holidays need to sell otherwise the sellers would wait until after the holidays to put them on the market. Why disrupt the holidays, right? This could mean the home has been on the market a while, they need to relocate for a job, or the seller hopes to close by the end of the year. Whatever the reason, sellers are motivated during the holidays. Use that to your advantage.
3. Less Competition
There is still plenty of inventory, but less competition. Many other buyers take a break from house hunting or hold off to attend to their holiday events and commitments. You’ll have less buyers competing for the home that meets your needs and you’ll have more leverage when you go to make your offer.
4. Tax Break Deadlines
Take advantage of tax breaks for investing in real estate or buying a home by the end of the year. Tax deadlines are approaching, so buy a home now and get your tax breaks.
5. Lower Interest Rates
Lock in lower interest rates now as they are predicted to continue to rise in the New Year.
6. Quicker Closing
Buying a home during the holidays generally means a quicker closing because everyone involved will want to get the transaction on the current year’s books. Be proactive and have all your paperwork in order from the beginning to make things go as smoothly as possible and be patient as people may be on vacation. Closings can only go so quickly.
Looking for a home this holiday season? Contact Conrad Realty Group today!