Why It’s a Great Time to Buy a House during the Holidays

classic house with flower gardenAs the year comes to a close, many of us are anticipating the holidays. Some families have house hunting on their to-do list. Home sales are typically lower during the holidays due to certain factors. For one, no one wants to go house hunting in this cold weather. Secondly, you want to welcome people to your home during the holidays and not invite them with moving boxes on your doorstep. Even though it’s not a popular trend, buying a house during the holidays can be very advantageous. Let’s look at a few reasons why.

Low-interest rates on mortgage
You can still buy a home this holiday season because interest rates on mortgages are likely to remain low. Low loan rates are more available during the holiday season because lending institutions want to attract more buyers. In fact, interest rates are likely to rise starting from spring next year.

Homeowners urgently want to sell
To start with, sellers are usually very serious about getting rid of their homes when they decide to do it over the holidays. It could be for sudden reasons such as a divorce, job relocation or financial reasons. Any savvy buyer can take advantage of this and get a home at a good deal.

Competition is low
Secondly, there are usually few people who are looking to buy a home during the holidays. That puts you in a good position as a buyer. Since the seller is receiving few offers, you don’t have to compete against multiple buyers. You are likely to save more and get a good deal when you buy a home at this time of the year.

Take advantage of the holiday spirit
During the holiday season, things are going well for sellers and lending institutions. You need to take advantage of this as a buyer. For instance, your loan approval process is likely to take less time because most of the companies don’t have many customers to deal with. People are nicer during the holidays so don’t be surprised if the seller agrees to your initial offer.

But remember that some companies will release their employees in time for the holidays so make sure you get pre-qualified for a mortgage before you start house hunting. Take your time when choosing a home and remember that the decision you make may be stuck with you for many years. Browse through the listings here at http://homesforsaleclayton.com and get in touch with a reputable broker to help you find your dream home.

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