Is the holiday season a good time to buy real estate?
The period between Thanksgiving and New Year is considered the holiday season in North American culture. During this time, families gather around in their households and celebrate
special occasions more than usual.
So it’s no surprise that fewer people would put their houses on the market in the last two months of the year. Therefore, the options are limited. However, there are many beneficial circumstances to be considered.
You can check the conditions
Real estate investment takes a lot of thought. Most likely you plan to live in the same house for years, therefore you need to make the choice carefully. Maintenance issues arise frequently when the house is damaged. However, during the fall and winter months, you can check how well the heating of the estate works. Here are a few things that you can inspect better during the holiday season.
The most usual issue is heat. When fall is nearing its end, it gets very chilly. Some houses have rough heating systems. Sometimes, only a part of the house can warm up while some
rooms stay cold. Therefore, its owners feel quite a lot of discomfort during cold days. You can easily check the temperature and the heating conditions if you are buying real estate during the holiday season.
Moreover, heating issues cause the house to get damaged further. Dampness and humidity will slowly rot your house from the inside. You might have to replace the doors and the
windows and repaint the whole property.
There’s also the issue of rainwater finding its way into the house. The holiday season is the rainy one, making it easy for you to inspect the durability of the property. You can examine
the rainwater pipes and the drainage.
You can benefit from financial advantages
We have already established that there is less competition when it comes to the real estate business during the holiday season, causing the prices to fall. You might find it inconvenient
that there are fewer houses to choose from, but if it’s not an issue for you, then the holiday season is the perfect time to buy real estate.
If you plan to get into the property management business and getting your house rent ready, then the lack of options shouldn’t be a deal breaker. Moreover, you will spend way less money while profiting as much as you would if you made the purchase at any other time of the year.
Not only are the prices lower due to smaller competition scales, but developer companies also like to announce discounts as presents to the customers. It’s guaranteed that at least
one prestigious housing developer will offer the buyers a price reduction. Therefore, you will be able to get your dream house for a dream price.
We should consider the fact that housing development is not the only industry with great competition, banks are also competing with each other to satisfy the customers’ interests to
the fullest. It’s likely that you don’t have thousands of dollars saved in your account at once. If you need to take a loan, chances are that several banks are offering holiday advantages.
Private lenders don’t shy away from giving customers great opportunities as well. There are companies such as JCAP, that create beneficial loan programs for the holidays.
You don’t have to rely on the hope that some banks might be generous, but mortgages fall significantly during the holiday season.
Another financial benefit of buying a house during the holiday season is that you won’t have to worry as much about taxes. In the case of buying real estate in the period of the last two
months of the year, you can avoid plenty of payments.
The jolly family season gives you a variety of opportunities and presents. You can start a brand new year in a brand new home and begin making lovely memories. You will be able to
make sure that each year your family will be warm and cozy in a comfortable house. All of that comes at a smaller price than it usually would!