Buying a Home during the Holidays is a Really Good Idea!
In a nutshell – You will avoid competition, you’ll benefit from lower prices and from sellers who are motivated to get their homes sold, better mortgage rates, quicker closings and tax deductions. Doesn’t this sound good to you? Don’t get caught up in the spring and summer house-buying frenzy! Get out now and reap the rewards then sit home during the spring and summer and enjoy your new home!
Here are the reasons why winter is the best time to buy a house:
#1. Less Competition
Most people think of the holiday season and the winter months as a time for festivities, to spend time with family and friends, and to relax at home with the fire going. When you buy a house at this time, there is typically a natural lull in the marketing cycle. People typically look to spring and summer as the best time to buy a house. The warmer weather tends to create a seller’s market where buyers have the disadvantage because there is so much more competition which can cause the price to go up. With less competition prices tend to be lower. Most likely, you will be one of the few out there looking for houses.
#2. Sellers are Motivated
Sellers who have their house on the market at this time are serious sellers. Sellers know that there are less buyers looking at houses, less foot-traffic, so this “small window of opportunity turns you into a serious buyer with a serious edge”. If the house has been listed on the market for a number of weeks, you will have even greater negotiation power, especially since sellers receive a tax benefit if they sell before the end of the year. Technically, you are in the driver’s seat! If you have a serious offer to purchase, why would a seller not take you up on your offer, especially during the holidays?
#3. Interest Rates tend to drop at this time 
There is usually a drop in demand to buy a home during the holiday season which means lenders receive fewer requests for a mortgage loan at this time. Interest rates tend to drop every December through January on a cyclical basis. A lender is more willing to offer you a lower interest rate or waive some fees in order to secure your business.
#4. Tax Benefit
Buying a house and closing before the end of the year may give you a much appreciated/needed tax deduction. “You have a good chance to be able to subtract the interest component of the initial mortgage payments for that year’s taxable income. Speak to a qualified tax advisor to find out how mortgage interest deduction may be applicable to your circumstances.”
#5. Faster closings due to fewer transactions
Historically there are fewer overall transactions during these months which results in faster closings. Because lenders want to “close their books” at the end of the year, they may be more inclined to close transactions quicker for people buying a house during this time.
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