Between holiday shopping, preparing your guests, and trying to juggle all the events you’ve been invited to, it’s natural to want to put buying a home on the back burner until January. But there are a few significant advantages to purchasing a home this time of year, and if you’re serious about buying a home in San Diego, it may be worth the time and energy to fit in a few showings and open houses! Read on for four reasons why you should consider buying a home during the holiday season:
1) Less Competition
November, December, and January are usually less competitive months for buyers. With fewer buyers looking, you are less likely to compete in a bidding war. During the holidays, the home buying experience tends to feel a little more relaxed and will give you needed time to make a decision.
2) Serious Sellers
If a seller has their home on the market during the holidays, they are usually very serious about selling. This could be because they’ve already purchased another home and need to sell ASAP, so they don’t have the financial burden of two mortgages. Other reasons may be a seller is facing a major life change like a job transfer, divorce, or new baby. Whatever the reason, sellers are often more willing to negotiate because fewer buyers are looking during the holidays. Even if the price tag is still high, some sellers may be willing to compromise on other aspects of the sale like repairs or closing costs.
3) 2019 is Around the Corner
With less than a month left in 2018, everyone involved in your home purchase will be looking to help you close before the end of the year. With fewer transactions on the table, it may actually be doable! This is where you’ll want to lean on your agent to help assemble a great team who is willing and able to work quickly to get you moved in as soon as possible. Many lenders can close a loan in 15 days so long as everyone else involved is willing to speed things along.
4) After Christmas Sales
This is more a perk than anything, but it’s still worth noting that many types of furniture, appliance, and home décor companies will have impressive sales after the holidays! Of course, you need to wait until AFTER you close escrow to make big purchases, so you don’t jeopardize your loan approval. But knowing you’ll be able to save money on all the things you need for your home is a great incentive to keep house hunting.
If you come across a home that meets your requirements and is within your budget, don’t let the holidays stop you from purchasing- especially when there is still such limited inventory in San Diego. Many homebuyers let a potential home go merely due to the time of year, but if you’re serious about buying, and it’s the right fit, you should make an offer.
No matter your timing, I am here to help! Contact me today if you’re looking to make a move in the coming months.