Should You Buy a Property during the Holidays?

Home For Sale Sign in Front of Snowy New House

With the year-end holidays just around the corner, Canadians are starting to get busy with their to-do lists, including shopping for gifts and planning parties. What you almost never see during this season is someone hunting down properties. While there are a few people who would look forward to uprooting their families and moving during the holidays, if you think of it, this great season may actually provide you with great real estate bargains.

 

Here are some reasons why you should consider holiday house-buying:

 

  1. Sellers who have their homes up for sale over the holidays usually have incentives to sell, such as upcoming job relocation. If the property has been on the market for quite some time, that incentive is even multiplied. As a buyer, you can use this kind of urgency to your advantage. Have your trusted agent such as Tammy Samuels negotiate firmly but fairly with sellers and you are likely to get a lower price for the property.
  2. Because there are a lot of activities at work, in school, and even at home, there may be fewer real estate transactions during the holidays. That means you’ll have less competition for the houses that you are considering – and that is a definite leverage. Your agent will tell you that most holiday home sellers are willing to adjust their prices in your favour or make other concessions. You have to keep this in mind and ask sellers if they are open to negotiation.
  3. When it comes to interest rate trends, you’d find that as the holidays get nearer, the interest rates may also get lower. This is not due to the generosity of lenders (though that won’t be a bad thing at all!) but because there is a limited demand which results to tougher competition among lenders.
  4. In general, all parties involved in real estate during the holidays are eager to complete their transactions – sellers want to move on to their new home and lenders want to close their books. Take advantage of how motivated everyone is to close deals. There are fewer transactions during these times so it’s easier to have everything done for a smooth closing.

While some may argue that these factors do not always apply, there is still one thing you need to remember: having a trustworthy and experienced agent by your side can make buying a home easier this holiday season (or any time of the year for that matter).

If you are set on purchasing your new home before the year ends, give Tammy Samuels a call, and you’d see that it is, indeed, the most wonderful time of the year!