The real estate market follows seasonal patterns, with home buying and selling activities typically ramping up in the spring and summer. While winter isn’t a traditional time for homebuyers to start looking, there are some advantages to house hunting during the busy holiday season. If buying a home is on your holiday shopping list this year, here are a few reasons why now might be the best time to start looking.
You can use vacation time to house hunt
The holidays are a great excuse to take some time off and look for your next home. You’ll have extra time and flexibility to examine your options and visit more homes, with less pressure to make a decision. And with the kids out of school, you can get the entire family involved in the process.
There’s less competition from other buyers
Looking for a home can be overwhelming, especially for first-time homebuyers. Because there are usually fewer homes on the market during the winter, there’s also less competition from other buyers. Without as many buyers to compete with, you can feel free to make an offer on your own time without the chance of being outbid or turned down because the seller received a better offer from another buyer.
Sellers are more motivated
If someone lists their home during the holiday “off-season,” chances are that they’re highly motivated to sell. Maybe they need to relocate quickly, or they want to take their home off the market before year-end. Homebuyers can take advantage of sellers’ urgency to negotiate a better price. Sellers who are under pressure to sell before the year ends may be more likely to accept an offer, even if it’s far lower than their initial asking price.
You might find better deals
Historically, homes have been priced lower in December than any other month. With the combination of less competition, eager sellers, and homes priced to sell, the holiday season can be an ideal time to score a great deal on your next home.
Remember, there’s never a bad time to start looking for the home of your dreams! As you begin to search for your next home, it’s a good idea to get pre-approved for a mortgage loan. Your mortgage pre-approval letter will show sellers that you’re a serious buyer and help give you a leg-up on the competition in today’s hot market.
When you’re ready to take the first step in the home buying process, contact the mortgage experts at River City Mortgage. We’re standing by to answer your questions and help you understand the mortgage process step by step. Let us help you find the right mortgage for you, whether you’re looking to buy during the holidays or any other time of the year. Best of all, we make getting pre-approved quick and easy! Simply contact us to start the process today and learn more about your financing options.
