As the holidays approach, it’s not uncommon to put your home buying plans on hold. After all, inclement weather, holiday parties and gift shopping tend to overtake your schedule at this time. So, you make a decision to break for the time being and make a pact to pick up your home buying plan in the New Year.
But, what if buying your home during the holidays isn’t such a bad thing. In fact, what if buying a home during the holidays means that you could have a more stress-free buying experience and avoid the notion of overpaying altogether?
As it turns out, adding “house” to your holiday shopping list can be incredibly beneficial. Read on to discover why buying a home before the holidays just might be the best way to play the market.
Let’s start it out with a bang! What’s the number one reason to purchase before the holidays?
Less competition, of course. In the time that falls between November and the end-of-December, you can count on a significantly decreased number of buyers in the housing market. Remember, this is an incredibly busy time for all. As a result, it’s not all that uncommon for buyers to hit the pause button on their home search.
So, if you’re willing to buy a house during the hustle and bustle of the holiday season, count yourself lucky. This is a great opportunity to purchase a fabulous home without the added notion of competition.
Easier to Negotiate
When a large number of buyers are bidding on one house, the element of negotiation doesn’t typically work in the buyer’s favour.
But, with fewer buyers in competition, you’re naturally going to have more negotiating power. This provides you, the buyer, with an increased power to negotiate the purchase price and terms with the seller. When the buyer has more power to negotiate, the eventual purchase price is far less likely to skyrocket.
It’s also a simple way to negotiate with the sellers in a more personal and face-to-face manner. This is an opportunity that doesn’t typically present itself in a multiple-offer scenario.
Who knew that buying a house didn’t have to result in pulling your hair out and swearing off the housing market altogether?
Let’s face it, buying in the springtime can be incredibly stressful. Generally speaking, this is because you’re typically in competition with a number of buyers looking to call the same house their home. This isn’t all that different from a large group of consumers hungry to grab the last honey-glazed ham on the shelf come Christmas Eve…
When you’re not having to deal with multiple offers and tight deadlines, the process is naturally going to feel less stressful. This means that you actually take the time necessary to make such large-scale decisions. Without a group of mutually hungry buyers, you’re going to find that you can actually enjoy the art of house shopping. Huh, who knew!
Lower Purchase Price
One of the most prominent reasons that property prices get driven so high is due to the competition. When multiple people are competing for the same property, the price naturally begins to increase.
This is why we see homes listed for $999K and then selling for $1.3K.
Without this competition, it’s far less likely that the price is going to reach unchartered territory. Instead, you’re going to find that you’re paying closer to the market value of the home during the holiday season. This is why the list to sale ratio of homes sold in the month of December are always on the lower end.
It’s safe to say that this is a fact worthy of celebration for buyers.
Sellers Are More Motivated
Let’s face it, sellers are not exactly looking for a long and dragged out sale during the holidays. Instead, they’re looking to sell the house, get the tree up and decorated and move into their new home in January.
Fortunately, this means that they’re much more motivated to sell the house as soon as possible.
Sellers are also far more likely to list their homes during the holidays when there is a time-pressing need. For example, they may have been relocated to a new city for work and looking to sell by the end of the month. In combination with the holidays, this puts an added pressure to sell the house in good timing.
Sure, adding a house to your holiday shopping list might feel daunting. But, if the notion of saving money and avoiding stress appeals to you, it’s well worth searching for a place to call home before the arrival of Mr. Clause.
Visit Nobul.com to find your new home before the Holiday season.