The holiday season is full of family, friends, and festivities. This being said, most people have the notion that buying a home during the holidays is an unappealing time to buy a home. However, buying a home in the fun-filled last few months of the year can actually be a very financially strategic decision. Holmes Homes is a leading, award-winning home builder based in Utah. Whether you’re hoping to build a custom home or purchase a previously built home, Holmes Homes is ready to help you with your holiday house-hunting and find the perfect home for you and your family to enjoy the holidays in. Below are some of the amazing benefits of purchasing a home during the holiday season, as well as a few tips for how to best go about the process of buying a home during the coming months.
The Market Isn’t Competitive
It’s common knowledge that most people avoid moving houses as the holiday season approaches. This could be used to your advantage for two reasons: sellers want to close quickly, and you’ll have less competition when it comes to buying. This combination makes the process of buying a home less stressful, and cost-effective. With the end of the year approaching, and Thanksgiving and Christmas fast approaching, real estate agents, sellers and bankers are all eager to move the process along efficiently. This way, everyone has ample time to spend with their loved ones in the most stress-free environment possible. Before getting too deep in the process of purchasing a home with a specific agent, make sure that you are aware of their intended working hours during the holiday season. This will help both you and your agent communicate clearly and effectively.
The holiday season isn’t generally the buyer’s first pick of time to begin the process of buying a house. This means that you’ll likely have several houses to consider without the pressure of putting in offers and deposits that will fend off other potential buyers. Having less competition means the seller will have fewer offers, and so the chance of your offer being accepted becomes a lot more probable statistically.
You Can Save Money
With several major Holidays approaching, sellers are eager to get their houses sold and closed quickly. No one wants to have any loose ends when they are meant to be enjoying the holiday festivities with their family and friends. Because sellers are so eager to close, this also means that you should be able to sway the negotiations about repairs and replacements in your favor. Now is your time to negotiate which repairs and replacements should be included in the cost of the home to make the transaction as beneficial for you as it can be.
Purchasing a home toward the end of the year can give you major tax benefits for the coming year. By itemizing deductions, you may be able to deduct things like property taxes. Because there is less real estate activity in general toward the end of the year, interest rates tend to decrease. When fewer people are borrowing money to purchase houses, the interest rates drop. It’s a good idea to watch interest trends while you’re in the process of buying, and get in touch with your bank as soon as possible to discuss interest rates.
Look for Motivated Sellers
During the holiday season, sellers may be motivated by a job relocation, a major familial event, or wanting to be moved into their new home by Christmas. Because Sellers are motivated for a cause, they are going to be a lot more efficient with the process, and willing to work with you to make the process of closing as smooth as possible.
It’s no secret that buying a house includes a lot of paperwork. Getting all of your housing “ducks in a row” can help the process of purchasing a house easier and significantly less stressful. Having all of your necessary paperwork organized means that you can act quickly and jump on a good deal when you find one.
Contact Holmes Homes Today to Help You With All of Your Holiday House Hunting Needs
Holmes Homes has a wonderfully knowledgeable team that is ready to help you with any of your needs, and answer any questions you may have, while you’re in the process of buying a home. Any of Holmes Homes award-winning communities are the perfect place for you and your family to enjoy the holiday season together. Holmes Homes are beautifully designed and perfect for hosting any of your holiday gatherings, and provide a beautiful setting for opening presents on Christmas morning. Get in contact with Holmes Homes today to begin your holiday house hunt.