Why Are the Holidays a Good Time to Buy a Home?

The holidays aren’t a bad time to buy a home. There is less market activity to compete with and most sellers are motivated to get a deal done.

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Today we are going to give you the top five reasons to buy a home during the holidays. This time of year is thought of as a bad time to be in the real estate market, but that assumption isn’t entirely accurate. Here’s why it makes sense to list now:

1. Less market activity. With everything going on during the holidays, there is less activity in the real estate market. Yes, that means there are fewer sellers, but it means there are fewer buyers, too. With fewer buyers, you’ll have less competition for the best homes. This gives you leverage.

2. Motivated sellers. People who sell during the holidays usually have some type of incentive to sell, whether it be because of a job relocation or some other reason. This allows you as a buyer to get the house you want at the price you want. 

3. Potential tax advantages. If you itemize your taxes, you can deduct closing costs, discount points, mortgage insurance, and property taxes for your current tax year.

4. Better interest rates. Interest rates tend to be lower during the holidays. It’s not because the banks are being generous; they just aren’t as busy and that drives rates lower. We usually see lower rates during election years.

5. Faster closings. During the holidays, everyone involved in a transaction has incentive to get a deal done quicker. The banks want to get the loan off their books, the real estate agents want to collect their commission before the end of the year, the sellers want to move into their new place, and the buyers want to get settled into their new homes as well.

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It makes sense to buy a home right now.

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These are five of the top reasons why it makes sense to buy during the holiday season in Sioux Falls. If you have any questions for us, don’t hesitate to reach out and give us a call or send us an email. We look forward to hearing from you.