Buying a Home Over the Holidays

This time of year is great for spending time with friends and family, gift giving and decking the halls. This can be a joyous but also very busy time of year. If a new home is on your Christmas list this year, this blog post is for you!

Although it’s not the conventional time many choose to house hunt, there are plenty of reasons this time of year is still great for buying a house.

On Buying…

Quicker Sale Process – Most sellers avoid this time of year to sell their home. Due to the weather and the assumption that most people just aren’t thinking about real estate this time of year. However, a seller who has their house on the market this time of year, is probably a seller who needs to sell their home as soon as possible. This leaves house hunters able to take advantage of a seller’s urgency. This also may result in a quicker sale process for both ends.

Better Price – But there aren’t a lot of homes on the market this time of year? This may be true but with less competition you may be able to negotiate a more favourable price if you find a home you do like.

Lower Interest Rates – Interest rates are usually lower this time of year because of the small demand causing greater competition among mortgage lenders.

 

Helpful Tips…

Get a Head Start – Don’t procrastinate when it comes to getting ready for all the holiday festivities. You don’t want to be scrambling to get shopping done, cooking/baking and trying to find a mortgage/home.

Potential Tax Advantages – Consult a tax professional before you purchase a home. You may be able to subtract any points you paid upon closing, as well as property taxes and mortgage interest.

Get Pre-Approved – Lenders aren’t typical busy this time of year so this could mean faster approval. Also, make sure to get pre-approved and you may be able to lock in a low rate even if you are not buying right away.

I hope you have found the above information and tips helpful and will make your holidays a little less stressful if real estate is on your Christmas list this year.

Merry Christmas and all the best in 2016!