Many people believe buying during the holidays is not a great idea, but the holiday season is actually a fantastic time to buy! Although inventory is traditionally low and people are preoccupied with holiday festivities to do much searching, this might be the best time of year to find a deal.
Here are some of the advantages of buying during the holiday season:
Less Competition For a serious buyer, this can be advantageous as you will have more time to negotiate and to think about your offer. There are also fewer cases of bidding wars during this time of year.
Serious Sellers/Cheaper Prices If you have been doing research the last few months, you will have noticed that some homes have been taken off the market. Some sellers put their Greater Boston homes on the market in the fall to flirt with the potential opportunity of selling for a big profit, but decide to take their home off the market once the holiday season arrives. The sellers that keep their properties on the market during this time are motivated, and usually want to sell by the end of the year for tax purposes. Motivated sellers are typically easier to negotiate with and will potentially end up lowering the asking price.
Faster Mortgage Approval Lenders tend to have more free time during the holidays, which allows them to focus on your deal and to potentially get you approved faster. You should still shop around to see who will provide you with the best rate and service.