There are several benefits, as well as a few pitfalls, to be aware of when buying a home during the holidays. The holidays are not part of the traditional buying season, but for various reasons people will often need to keep browsing the housing market during the winter holidays.
Diminished Competition
One benefit of searching for a home during the winter holidays is that there will be less competition. This means that there are going to be a less people checking out the home with the potential of buying it. The house is going to be priced to sell and more than likely, potential buyers will be able to view the home at their convenience.
The Need to Sell
Another notable benefit is that sellers are going to be a lot more motivated. If someone is willing to take the time to sell their home during the holidays, they are going to be a lot more likely to accept early offers from buyers. If you are trying to buy a new home for your taxes or because of a new job, then this season could be perfect for you. Homeowners are probably going to be more willing to negotiate the terms of the contract. Therefore, if you have been looking for a home, this is going to be the best time for you to buy your new home.
Holiday Home Presentation
An additional upside to buying during the holidays is that the home is going to look good. This is because, more than likely, the home is going to be decorated for the holidays. Therefore, the home is going to be very cozy and cheery when potential buyers come to view it. This means that you will be able to envision your own family celebrating the holidays in the home for many years to come. The homeowner will likely decorate the home so that all of its best features shine.
Holiday Stress
However, as with any season, buying a home during the holidays has its own pitfalls. One of these is holiday stress. Buying a home can make a time that is already stressful for most people even more anxiety-inducing. It is important to remember that the sellers of the home can also be stressed. To ease everyone’s anxiety, buyers should try to schedule the viewings of the home ahead of time and stick to that schedule. The seller is not going to want to sell a home to buyers who miss a lot of appointments especially if they planned around them.
Limited Inventory
Another issue to keep in mind is inventory. There will probably not be a lot of homes for sale during the holidays because people are going to be more focused on spending time with their family instead of trying to sell their home. Therefore, don’t settle for a home you aren’t sure about. Buyers can always look for a home right after the holidays so that there are more options for finding their dream home.
Migrating Competition
While usual competition may be thinner than usual, the winter holiday season comes with its own competition. This is usually made up of people who live in the colder places are migrating to warmer ones during the winter. These few people can add a lot of competition when there are already a limited amount of homes for sell. Therefore, if you find a home that you like, do not hesitate when it comes to putting in an offer on the home. This is because someone else could quickly put in an offer and you could lose the home of your dreams.
If you would like more information, or help finding your dream home, visit The Damron Group REALTORS, located in San Marcos, TX.
