Buying a house during the holidays can be done—and done well—with a little planning and an expert real estate agent by your side.
House hunting in December might sound chaotic, but there are some key advantages to buying now. December is one of the slowest months for home sales, so you have a better chance of landing your dream home at a great price. How do you minimize stress and buy a house during the holidays? These are our top tips.
Forward Planning
The holiday season can be a hectic time for everyone, but that shouldn’t deter you from considering a home purchase. However, you’ll have to plan ahead. If you’re local to SWFL, you might have family coming to visit, so, schedule your house-hunting accordingly.
If you’re visiting SWFL for the holiday season, plan ahead with your Realtor® and other key players in the process since there will likely be more delays in response times due to holiday travel and time off with family.
Mind Your Finances
December is one of the “most expensive” months in terms of consumer spending. Keep in mind that big purchases and gift shopping can take a toll on your creditworthiness. Mind your finances if you are planning to purchase a home, especially if you will be applying for a mortgage.
On that same note, it’s a good idea to get preapproved before lenders take time off for the holidays. That way, when you find a home you’d like to purchase, you’re not waiting around for holiday closures in order to make a move.
Understand Your Leverage
There are usually fewer buyers in the market during the holiday season. That means sellers who want to sell quickly are more likely to take an offer that favors you. This could provide an opportunity for lower home prices, seller concessions, and other favorable terms. Work with your real estate agent to create an offer that’s competitive while taking advantage of the buyer-friendly time of year.
Remember The Tax Breaks
Should you purchase a home in December or wait until next year? If you’re on the fence, the tax breaks for being a homeowner might motivate you. Though it’s best to talk to your tax professional about the specifics of your situation, homeowner tax deductions typically apply to the year in which the home was purchased. Those deductions might include:
- Mortgage interest
- Discount points
- Property tax deductions
- Mortgage insurance deductions
- Necessary home improvements
Hire Santa Clause
…Or at least an experienced Realtor®! This is one of the most important moves you can make any time you purchase a home—but discussing your year-end home search is especially crucial. You need someone who is engaged and focused to find the home you need at the price you want, stay on top of communication, and help your process run smoothly. Someone who will be out of town or has too many other obligations this time of the year may not be the best choice.
Choose a real estate agent who can tap into their network too, helping you find homes that may not yet be listed on the MLS. You deserve the perfect property that checks off all your must-haves and nice-to-haves, and the best agents will find it even when the market is slow.
Let’s Chat
As always, we encourage you to reach out to discuss your holiday home-buying plan or plans for the upcoming new year. We’re here to listen and provide advice based on our knowledge of the local market. Give us a call at 239-472-1950 or email team@mccallionrealty.com.
