Many potential home buyers are under the impression that the period around Christmas and New Year is a bad time to be purchasing property. However, research has shown that this can in fact be the ideal time of year to purchase your dream home. Below are just a few of the benefits you will enjoy when signing on the dotted line during the festive season.
1. Less Competition
One of the main advantages of purchasing a home during this time of year is that not as many people will be house hunting then compared to other times. This means that you may be able to negotiate a better price with the seller, especially if they are stressing about not having much interest being shown in their property around Christmas time.
2. Potentially Better Priced Properties
Numerous sellers still think that Christmas is not a good time to sell a home. As a result, many properties end up being listed at lower prices than normal in the hope of attracting as much interest as possible. This is a highly beneficial scenario for you as a buyer though because it could result in you being able to obtain your dream home at a far better price than normal – especially if the property in question has been on the market for a few months already.
3. Negotiate a Faster Settlement
Another advantage of buying a home during the Christmas season is that in many cases, you may be able to work with the seller towards a faster settlement. Many sellers are keen to close their home sales as quickly as possible during this time, as they don’t want to have to deal with the January rush.
4. Leverage the Holiday Spirit
In most cases, people tend to put in a bit more effort to help those around them during this time of the year. This is often also true when it comes to companies that are on the receiving end of a mortgage loan approval process. In other words, you may find that a bank or lending institution will go out of their way more than normal to try and help you get the home you would like.
Keep that Property inspection in Mind
Just because this time of year is often referred to as the silly season, it doesn’t mean that you should forego all forms of common sense when looking at properties to buy. It is essential that you have the necessary pre-purchase inspection performed before deciding to sign any paperwork. This will ensure that you are indeed purchasing the home that dreams are made of instead of one that bears resemblance to the Nightmare before Christmas – structural faults can result in your home having to be fully rebuilt if they are serious enough.
If you would like to find out more about our pre-purchase inspection process or book an inspection with us, contact our friendly team today. They will be more than willing to assist you.