Between now and the close of the year, people are busy spending time with family, feasting on turkey, and shopping for that perfect gift. This is why buying or selling a home during the holiday season is a fantastic idea.
Sure, spring and summer are the busiest times for real estate, but winter and the holiday season truly cut back on looky-loos and sellers testing the waters to see what kind of offers they can get.
Here are five reasons why now is the perfect time to buy or sell.
1. Holiday Real Estate Is Serious Business
As a seller, you might get fewer people through the door at your open house, but the holidays are all about the quality not the quantity of traffic. Most of the potential buyers coming through will be shopping instead of browsing, focused on following through and getting to the closing table.
If you’re a buyer, you’ll typically encounter sellers who want to sell. They may need to move for a number of reasons such as starting a new job in a different state or moving to take care of family. This is also a seller who will be more apt to negotiate the price, terms, closing dates and more.
2. Festive Neighborhoods & Cozy Vibes
Even if the trees are bare, tastefully decorated homes and neighborhoods exuding holiday cheer are sure to attract more buyers. It’s the time of year for more emotional purchases and a beautiful tree lit up in your front window just might seal the deal. Talk about the perfect holiday gift!
And if you’re looking for your home sweet home, the spirit of the season might even attract you to a neighborhood that you weren’t sure about at first glance. The holidays can truly bring out the best in different areas and it’s a great way to find your fellow holiday revelers.
3. A Home’s Best Features and Attributes
If you’ve updated your furnace, replaced windows, and impeccably maintained your fireplace, all that money and effort may be lost on summer buyers. During the cold winter holidays, buyers are more likely to appreciate these upgrades and perhaps, submit a stronger offer.
On the flip side, buying during the colder months can reveal a variety of issues that are important to spot before you buy. Drafty windows or doors, poor insulation, problems with the gutters, even roof leaks are far easier to find when the weather puts a home to the test.
Pro-tip for buyers—check the weather and schedule your inspection on a sunny day. You’ll want to make sure the roof isn’t covered in snow, and that it’s warm enough to run and check the A/C.
4. More Time & Motivated Professionals
Enjoying some time off of work during the holiday season will free up more time for you to house hunt or prep your home to go on the market.
At this time of the year, buyers don’t have to wait until the weekend to tour a home while sellers can go gift shopping, visit family, or enjoy a local holiday event while their home is being shown.
Plus, lenders, real estate agents, and even movers are trying to finish the year strong. With fewer homes being bought and sold, lenders will have more time to tackle your paperwork and movers typically have more flexible schedules—even offer discounted rates.
With all parties motivated, faster closings can be a huge benefit during the holiday season.
5. Less Crowded, Less Competition
While the stores might be crowded during the holiday season, the real estate market typically is not. As a seller, there are fewer listings to contend with, giving your home the opportunity to truly stand out, sell faster, and help you move on to the next chapter.
And if you’re shopping for a new home this holiday season, you’ll find fewer people to compete against. As previously mentioned, they’ll likely be just as serious about buying as you, but now is the time when you’re more likely to be the one and only offer.
