The month of December is usually not the ideal month of the year to purchase a home, but experts have revealed that the exact opposite could be true. With low buyer competition that is usually prevalent during the holidays, some buyers can get to take advantage of the season for their benefit. Despite the spate of frenzied shopping that is commonly associated with the last month of the year, purchasing a home is least on most people’s minds. This makes any home that is available for sale well-priced to sell. Fewer buyers at this period work in your favor because the chances of getting multiple offers are quite slim. War of bids is also brought to a minimum.
Secondly, although it is not unusual to come across a home or several homes that are available for sale in December, it is not a common phenomenon. Sellers of homes during this period have different reasons for putting their homes on the real estate market, which could be job-related, related or just to have a change of scenery by relocating. In any case, this is an occasion for you to discuss a deal that will favor you in the long run.
Most times, you can also take advantage of holiday incentives, especially if you are building a new house. Newly constructed homes are best purchased in December as most home sellers would want to finish the year on a strong note. You may even get some additional benefits such as custom cabinet upgrading, enhancement of designer paint colors, etc.
Mortgage brokers don’t usually have a swell time during this period of the year, and this is an ideal situation for you to build the best mortgage one can ever hope to get. There aren’t that many sellers of homes during December and consequently, less real estate business deals. Therefore, you can motivate loan officers by asking them to either reduce or relinquish origination fees or to provide inducements.
When you buy real estate at this period, you are in the ideal position to take advantage of the next hike in interest rates.
When you buy a home for Christmas, you get to enjoy exclusive benefits from title companies or appraisers as they will be more than willing to get their jobs done immediately. This is because the last month of the year is a slow period. This makes completion of your deals a faster process during the months of winter. Even home inspectors are not left out as they will be more than eager to offer their services and have your inspection done within a very short time.
When you buy a home during the holiday season, you will be able to secure better deals as a result of non-availability of competition.