Should I Buy A House During the Holidays?

It’s that time of year. The Holidays are here. As we find ourselves entrenched in the holiday season, you may be wondering, is now a good time to buy a house?If you’ve been considering buying a new home and you’re not sure whether or not to start or continue your home search during this time of year, The Wright Team of Coldwell Banker Realty recommends you consider the following while taking the time to decide.

Mortgage Loan Interest Rates

Interest rates are still at historically-low levels right now compared to the past.  Now might be the time to capitalize on securing a low rate should rates continue to increase. Lower interest rates mean increased purchasing power for buyers. Lower monthly payments and higher purchase prices mean you can get more for your money and in some cases, even jump into a higher price point.

Less Competition

During the Winter months, fewer people are looking to purchase homes. A lot of people wait until the Spring to get serious about home shopping and purchasing a house. People just assume that Spring is the best time to buy and sell houses. But if the house you’re looking for is out there in the Winter, by all means, you should go get it. Yes, there will still be other home shoppers out there and home sellers can only sell their home to one person but you stand a better chance of obtaining the home of your dreams if fewer people bid on it. There are fewer multiple-offer situations during the holidays.

Motivated Sellers

People who list their homes during the Winter are typically motivated to sell. It’s cold. It’s dark earlier and it’s really easy to say “Let’s wait until the Spring.” Most people are inclined to relax at home and enjoy the holiday season with their families. So, if a family is willing to prepare their
home, list their home, and allow showings and inspections, chances are that they will want to sell and close the deal. Which means they may be more inclined to negotiate and comply with repair requests. It’s not necessarily true that buyers have the advantage in negotiations during the holidays but the sellers looking to sell during the holidays are going to work to get the transaction done.

Schedule Flexibility

One of the great things about the holidays is the time off. Having some downtime at work gives you more time to shop and find the home of your dreams. It also allows you to come to the inspections, attend any walkthroughs, sign and come to closing and even move in without
crushing all of your vacation time at work. Most of the year is consumed with work, school and extracurricular activities but things seem to be a little slower and self-paced during the holiday season.

Ultimately, it’s up to you and your family to decide if buying during the holidays is a good idea. But it’s not something you should automatically dismiss or push off until the Spring.

The Wright Team of Coldwell Banker Realty Can Guide You

Whether you decide to buy now or in the future The Wright Team of Coldwell Banker Realty is here to help guide you through the entire process. The Wright Team provides residential and commercial real estate services in Annapolis, as well as the surrounding communities in Anne Arundel County. With over 70 years of combined experience in the industry and superior local real estate, the Wright Team specializes in historic homes, new construction projects, marketing homes to sell, and assisting buyers to identify homes to purchase in the local area. Contact us today!