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Buying or Selling a Home During the Holidays

‘Tis the season for giving, celebrating, and…homebuying? Yes, you heard that right!

While your neighbors are putting up their holiday lights and decking the halls, now might be the right time for you to consider putting up a “for sale” sign instead.

While traditionally the holidays are the slowest time for buying and selling throughout the year, there are perks to it.

Lower Interest Rates

The past two years we’ve seen record-low interest rates on home purchases. Currently, mortgage rates are in constant flux; slightly higher one day, slightly lower the next, and it seems likely those trends will continue into this winter season.

Still, most housing experts are expecting an overall upward trend through the end of 2021 and into 2022. Therefore, if you want to take advantage of low-interest rates, now is the time to capitalize on that.

Overall, you should take low rates as they come. Whether you’re buying a home or refinancing, the current lowest rates could very well be the best you’ll get. Our advice is always that it’s not worth passing up a great rate in hopes of slightly lower ones in the spring or summer.

Less Competition

Anyone else feeling slightly defeated by the bidding wars of the past two summers? With buyer activity at an all-time high – partially thanks to the aforementioned low-interest rates – the competition for bidding on homes has been scorching hot.

Thankfully, with the arrival of the winter months traffic is likely to dip. With fewer buyers going neck and neck with you, you’ll not only have more properties to choose from, but the process will also be much less stressful. A win-win!

Set the Table with Seasonal Style

As we all know, with the onset of the fall season there will likely be a few family dinners down the road. Laying out a warm-toned table runner or linen and adding a festive centerpiece are easy ways to add a bit of autumn décor to your dining area.

Additionally, you can swap out your typical napkins and placemats for seasonal ones to add another layer of color to your table settings.

Last Minute Tax Breaks

Another compelling reason you might want to buy during the holidays are the potential tax breaks. End-of-year home purchases give homebuyers the chance to squeeze in an important tax write-off. Homeowners can deduct their mortgage interest on primary residences up to $750,000, along with combined deductions for up to $10,000 of local, state, and property taxes.

Keep in mind that other homeowner-friendly deductions, like moving expenses in some states, may also apply.

How’s that for a jolly good deal?

Sellers Are More Willing to Negotiate

Last but certainly not least, the autumn season is the perfect time of year to enjoy your back yard–the weather is just right and the colorful foliage provides a stunning back drop for those cheerful evening get-togethers.

You can start prepping your deck or patio for fall by adding a fire-pit to gather around. Whether you’d like to construct your own or purchase a fire-pit bowl from your local hardware store, having one not only gives your guests a spot to chat and converse, but also keeps everybody warm on those crisper fall nights (which they will be thanking you for!)

To tie it all together, sprinkle in some more pumpkins and gourds (real or fake) around your outdoor space. It would also be a good idea to place some sleek lanterns or string lights around the area to brighten things up when the sun goes down.

You Can Snag a Deal on Movers

For most of us, the thought of having to hoist and shimmy our heavy furniture around in the freezing cold sounds miserable. Thankfully, this is the best time of the year to hire professional movers to assist you.

Due to lower demand during the holidays, moving companies are often much more flexible with bookings, and you may even snag a lower off-season price!

Be sure to check with a few different moving companies to ensure that you get the best bang for your buck.

Closing is A Breeze!

During the hustle and bustle of the spring and summer months, your loan officer or mortgage broker might be significantly backed up leading to unwanted delays. It can be frustrating when your closing is planned around your lender’s schedule, however, during the holidays business for lenders often slows down by roughly 25% to 30%.

This means you will be able to close on your mortgage much faster and move in just in time to host those festive holiday gatherings.

The weather outside might be frightful, but don’t let that stop you from buying or selling this holiday season! Connect with one of our highly skilled loan officers and start your homebuying journey today.

Happy Holidays!

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