With record low interest rates and a variety of houses to choose from,this is the best time to buy.
But more specifically did you know that buying a house during the holiday season is a good deal.
This is the time of year where many people begin shopping for the holidays. They purchase gifts for their friends, family, and loved ones. But one item that you may want to consider buying for YOURSELF this holiday season is a new home. There are many benefits to purchasing a home in December, like:
1. Less competition Many consumers who are interested in purchasing a new home wait until after the holidays to start searching through the listings. While the malls have more customers this time of year, the real estate market actually experiences a decrease in shoppers during the holiday season. So, if you find a home that is perfect for you, you'll probably have fewer competing bids from other prospective buyers. And that leads to our next benefit of buying a home this time of yearâ€¦
2. Good Deals If a house has been on the market for a few months -- and didn't sell during the late summer and fall seasons -- the seller may reduce the price during the winter months. In fact, in many areas of the country, homes prices are typically at their lowest during the month of December. Homeowners who are showing their homes during the holiday season are often hopeful to sell it before the end of the year because of tax purposes, so they may also be more willing to negotiate on the price.
3. It's a slow time of year for realtors and lenders and that means you will get more personalized attention from your real estate agent, and a lender may shave a few points off your interest rate, just so they can get one final sale and home loan on their books before the year is over. Also, because they are juggling fewer deals in December than at other times of the year, it's likely your paperwork will be processed faster as well.