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November
21

Buying a Home During the Holidays

While real estate markets typically slow down during the holiday season, there will always be individuals who need to sell their homes. This means that potential homebuyers have a unique opportunity to locate and purchase a home. If you're planning on buying a home this holiday season, our real estate agents recommend following these tips. 

  • Understand That the Process Might Take Longer
    Many people take time off or travel during the holiday season, so the process will likely take a little longer. It might take a few more days to schedule a showing if a home seller is hosting a holiday gathering, or it may take longer to schedule a home inspection or secure preapproval for your loan. Be patient and know that longer-than-expected response times don't necessarily mean that something is amiss or that your deal is in danger of falling through. 
  • Take Advantage of Your Ability to Negotiate
    Since winter is a less popular time to purchase a home, home sellers may be more likely to negotiate on the price or terms of your home purchase. Private sellers likely have a good reason for their selling their home during a period that's usually sluggish; this means that they're likely to be motivated to make a deal. Home builders often want to get rid of unsold properties before they close their books for the year and may be more likely to negotiate the price or perks for the property. 
  • Watch Interest Rates
    Interest rates tend to be lower throughout the holiday season because fewer people are purchasing homes. This means that you can secure a lower rate that will help you save thousands of dollars over the life of your home loan. 
  • Test the Home's Systems
    Winter temperatures offer an excellent opportunity to confirm that all of the systems are working in a home. You'll have a chance to see how the home's plumbing and heating systems are functioning during cooler temperatures. 
  • Use Home Costs to Lower Your Tax Bill
    If you close on your home purchase before December 31st and itemize your tax deduction, this gives you a fantastic opportunity to lower your tax bill for the year. Expenses associated with purchasing your home, like property taxes, mortgage interest, and loan costs, can be deducted from your tax return. 
  • Take Advantage of Time Off Work
    Many companies close during the holiday season or encourage employees to take time off; if you find yourself with a swath of free time, this gives you an excellent chance to work on the tasks you need to complete to purchase a new home. You'll have ample time to shop for a mortgage with different lenders to make sure you get the best loan terms and to thoroughly explore the communities where potential homes are located. Once you tackle your holiday chores, use any remaining free time to assist you with your goal of purchasing a home. 

With a little planning, the holidays can be a terrific time to purchase your next home. And our agents are here to help every step of the way! Contact us today to get started, and let us help you find the perfect home this holiday season.

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