With the rush of the holidays fast approaching, it may seem like now is not the best time to purchase a home. But that’s what makes it the ideal time to buy. While other buyers temporarily drop out of the market, sellers still have to sell their homes, which puts you in an advantageous position to negotiate.
If you’re willing to use the time that others are spending decorating, baking and entertaining, you’ll have plenty of room in your schedule to look for and compare homes on the market.
You may find that homes for sale are slightly lower in price than they were in the summer at the height of buying season. It may already be cold weather where you live, making it harder for sellers to keep their homes and lawns pristine. Again, you’re in a better position to negotiate.
For new homes that come on the market, you’ll be first in line to see them without having to compete with many other buyers. These sellers are motivated, perhaps due to being transferred, or some other urgent reason.
Mortgage interest rates are near all-time lows. As the National Association of REALTORS® points out, mortgages 35 years ago were four times as expensive as they are now, and mortgage money is the cheapest money you’ll ever borrow. With fewer homes to close, your lender should be able to expedite your loan so you can move in quickly.
Tell your friends and family what you’re planning and they’re bound to support you. And next year, you can have everyone at your home for the holidays