Spring and summer are generally considered to be the hottest real estate seasons. Most buyers want to get settled before the new school year starts. Others want to use summer vacation time for home renovations. Sales drop off significantly between November and January. But, the holidays are actually a great time to buy! Here are a few reasons why buying a home during the holidays is a good way to score a deal:
Sellers are motivated: Anyone shopping for a home during the holidays has probably come across sellers who have to move for one reason or another. Otherwise, they wouldn’t be selling during the off-season. January is a popular month for job transfers, so some sellers may be looking to relocate before the New Year.
“A seller who’s looking to move a piece of real estate during the holidays is a seller who needs to sell, because nobody in their right mind would pick that as the most convenient time to list their property,” says real estate broker Tim Deihl. Negotiate with motivated sellers to land yourself a great deal this time of year.
Year-end tax implications: Some investors want to close before the end of the year for tax reasons. Buying a home during the holidays could give you great write-offs, too.
End of academic calendar: If you’re looking to buy a home near a university, students and staff may be looking to sell their homes between academic sessions. Work with your agent to target home sellers that might fit this profile.
There’s less inventory – but there are fewer buyers: Most people don’t want to move during the holidays. And that’s why most homebuyers wait until the spring and summer to begin their search. This means if you’re looking to buy in a hot real estate market, you’ll face less competition.
Real estate services are easier to come by: Business slows down during the holidays. Real estate agents, lenders and home inspectors usually have more time on their hands, which means more attention for you. Once you buy, there are usually more repair/construction services available too. If you wait to buy during the spring or summer, getting a contractor may feel impossible!
A glimpse at the real deal: Homes tend to show better in the spring and summer when landscaping is in full bloom. If you buy during the holidays, you can see what the house looks like without all the bells and whistles. You can see what parking is like during snow storms, whether the house heats properly, etc.
The holidays are stressful enough, so we understand why some people avoid it. But it’s important to know that buying a home during the holidays is a great way to score a deal on real estate. Find a good agent and take on the challenge! It’s not like you have any parties or family functions keeping you busy… (ya right!).
To find a Minnesota real estate agent near you, visit: www.mnrealtyguide.com