Learning More About Real Estate

4 Reasons To Buy A Home During The Holidays

23 May 2016 by Nathan Olson

If you are looking to buy a home, it's important to know the right time to start looking. If you're able to, waiting until the holiday season to buy a home is a great way to save both time and money. Here are four reasons as to why you should wait until winter to buy a home for sale:

1. Less Market Activity: Many people begin to look for a home in the spring or summer months of the year. This means that the market is a bit more competitive. When you look at homes for sale during the holidays, you definitely have more leverage. If homeowners are looking to sell during this time of year, they will usually lower the price of their home in order to appeal to the few buyers looking during this time of year. This also means that negotiating power is a bit more favorable on your end, as well. 
2. Sellers Want to Sell Quick: Since many homeowners know that selling during the holiday season is not ideal, the few that are selling their homes are typically doing so because they are looking to sell quickly. This is usually the case if they need to relocate because of a job. This definitely gives you more negotiating power, as well.
3. Lower Interest Rates: Another benefit that comes with a lower competition for buying a home during the holiday season is the fact that interest rates are lower, as well. This is because, since the demand is low, lenders don't benefit by offering higher interest rates. Keeping interest rates low is more likely to be accepted by the very few buyers during this time.
4. Closing is Faster: Many times, when buying a home during the holidays, closing time is faster. This is because all parties are motivated to close the deal before the end of the year. This ensures that they are getting paid and ending their year on a high note. This is definitely beneficial to ensure that you are also able to settle into your new home before the end of the year. 

When you know these four benefits of buying a home during the holidays, you can see why it just may be worth it to wait out your search for homes for sale until this time of year. This also gives you all year to continue saving for a down payment and closing costs, as well, which can definitely outweigh the stress that may come with shopping during this busy time of year with family and friends.