Making the decision to buy or sell your home during the holiday season is a bold one. While we’re often so busy with friends and family obligations, the thought of adding moving onto your to-do list may seem a bit counter-productive. However, there are some great reasons why you should be considering making a move during the holidays. If you’re looking to save money, make a quick sale, or get the home of your dreams, this may be for you.
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Typically, there’s less competition during the winter months, especially around the holiday season. Most people don’t want to move during the hustle and bustle of the busy season. There are likely fewer homes on the market, but fewer homebuyers as well. If you’re selling your home, you have a fewer number of homes to compete against on the market. Buyers and sellers will be more serious during this time of year.
Sellers may choose to sell their homes over the holidays because it’s the right time for them, but often it’s because they have to. Whether they’ve accepted a new job and have to relocate, their home has been on the market for quite some time, or they just simply need the money, this is a winning combination for buyers.
When house prices are rising, they’re being impacted by higher demand. December typically has lower home prices than any other month because fewer people are selling and buying homes. While it’s never guaranteed that December is the most affordable month, it’s worth keeping an eye on prices to get a good deal.
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With motivated sellers and interested buyers comes faster closings. It’s very likely that if you’re involved in a house sale or purchase during the holidays, you’re looking for a quick sale and closing. Do your research and answer any questions when buying a home before you’re ready to buy, have all your paperwork in order, and both parties will benefit from a smooth closing process.
Realtors love a last-minute real estate transaction with a fast closing for some commission around the holidays. Since it’s a slow time of year for purchasing or selling a home, they won’t have as many clients to tend to, and they can devote more attention to you as their client. They’ll likely be more motivated to help you out.
Sellers may experience some end-of-year tax breaks when they sell their home, and the transaction closes before December 31st. These tax deductions include property taxes, interest costs, and mortgage interest, and they can be significant. These breaks may prompt someone on the fence about selling their home to do it before the spring comes.
Buying or selling your home is a personal decision depending on your situation and circumstances. You’ll never know when the best time to sell your home is, but there are many benefits when you choose the holiday season. Your new home can be the best Christmas gift to yourself.
Alex Platt is a real estate agent for The Platt Group in South Florida. He brings a wealth of knowledge and expertise about buying and selling real estate.