Buying A Home During The Holidays
I’ve written an article on buying real estate in the fall and, admittedly, this article is similar in a number of ways, but for those of you who don’t feel the urgency to be settled in your new home before the holidays, you are sure to enjoy a number of additional benefits. Here’s why it might be a good idea to buy a home in Maryland during the holidays!
Seasonal Sales. Holiday sales are in full swing and you will be able to take advantage of great deals on services and furniture for your new home!
Availability. Lenders, title companies, and real estate agents don’t tend to be as busy with clients over the holidays. This means that you will enjoy more focused attention on your transaction.
Motivated Sellers. Does the thought of moving around the holidays give you a bit of pause? Sellers don’t want to move during the holidays either. Generally, a seller listing their home this time of year is doing so out of necessity.
Faster Closings. Motivated sellers mean faster closings. Not to mention, title companies will have more flexibility when it comes to scheduling a closing.
Lower Interest Rates. Interest rates are set to increase in 2019, but on the whole, interest rates tend to fluctuate. Since there are fewer people looking to borrow this time of year, you may be able to get a better rate.
Lower Prices. It’s no secret that prices tend to drop in the winter months. While you may have fewer options, the smaller buyer pool means you are unlikely to get into a bidding war that will drive up the price of the home you want. In the spring, it is very common for buyers to lose out on multiple properties before finally going under contract, but in the winter, homes are priced to sell and you have less competition.
Negotiating Power. Buyers have the upper hand during the winter months and this is especially true during the holidays. Sellers are more willing to negotiate if it means making a sale.
Less daylight, fewer homes for sale, and the stress of the holidays are a few of the major drawbacks about buying this time of year, but if you are looking for a good deal, the holiday season is a great time to buy a home in Maryland!