Buying or Selling During the Holidays!
Did you know that during the cold months of last year over a million homes were sold? Well, now ya do! It is cold, it is chaotic, it is the holiday season, and we know, we know the cons. Don’t worry though, there ARE PROS. For starters, there are fewer sellers and more serious buyers.
If the pattern repeats this year, you’ll have around 21% less competition on the market if you list your home during the winter. Buyers have fewer homes to choose from, which means you could sell your house faster.
Think about this too – tons of leases are up by the end of the year which means they have to be out, and they have to find somewhere to go! Winter home buyers may also be motivated to benefit from the tax benefits of buying a home before the year ends. They can write off some of the expenses of their home purchase on their taxes. Typically, a homeowner can count on the following being tax-deductible: mortgage interest, private mortgage insurance (PMI) premiums, and real estate taxes.
Also, generally, we know not everyone, but generally, this is when most people have the most time off. This means time off for showings, appointments, and more frequent communication. You are also getting a good look at what you’re paying for. You’ll be in these homes when it is thirty degrees outside, say hello to easily discover a home’s durability AKA how well the heat works! Ha! There is no doubt that the winter months are dreary, take the advantage of showing off how great your home can look. If you can stick out during the winter you might be labeled as a gem.
You might even be able to save money on your purchase! The median sales price of existing homes sold from December 2021 through February 2022 was around 4–17% lower than homes sold from March through June 2022. So consider it, a person gets a new home, and you sell yours, much faster than normal. A win, win scenario in our book.