Home Sweet Home! 10 tips for Serious Home Buyers Right Now
10 tips for Serious Home buyers Right Now.
Winter may slow down some buyers and sellers, but serious sellers and buyers continue to make deals to successfully transfer homes year ’round!
The home buying process goes on all throughout the winter months, and the selling side is ready and poised for action. Local sellers are motivated right now to move on to their next home and are eager to engage with interested buyers, no matter the season on the calendar or what the weather does.
Are you ready to purchase your next home? Home buying moves aren’t complex if you have a great real estate professional. This time of the year, you’ll have fewer buyers to compete with, less pressure to buy quickly, greater overall savings, faster closings and end-of-year tax benefits that all add up to a great win! After you “win” your home, you will be able to look forward to the warmer months ahead when you can enjoy it friends and family!
Discover 10 top reasons why right now is a great time to get off the “sidelines” and reach you goal to buy your next home.
1. LESS COMPETITION. Think about it: Buyers this time of year are usually those who absolutely need to make a move. Therefore, there is often less competition and fewer chances of a bidding war occurring than during the hyper-active selling/buying seasons of spring and summer.
2. BETTER DEALS. With less competition, sellers are likely to consider your offer more seriously — because they are seeing fewer buyers. Those same sellers are serious sellers that need to sell their home now. As a result, you might be able to negotiate a better price or terms than at other times of the year. With fewer buyers shopping, select home prices may be lower to attract a sale. The typical trend is for home prices to be at the lowers point of the year in December.
3. OVERALL SAVINGS. Besides a lower home price, you may pay less for moving and repair services since winter is not prime moving time and contractors aren’t as busy as during warmer months.
4. INTEREST-RATE BREAK. Mortgage interest rates are sometimes lower in winter than in spring when demand can push rates higher. You can increase your buying power when mortgage costs are lower.
5. EASY ON THE EYES. Sellers often have their homes looking their best during the winter when more family gatheings, holiday celebrations, big meals and increased at-home entertaining takes place. Sellers’ homes are shining for their holiday and seasonal activities, and their homes are sparkling clean and showcased for your viewing pleasure.
6. QUICK CLOSING. Because winter months have fewer home sales, your mortgage lender might not be as booked, resulting in a quicker closing/settlement — helping you and your seller move on and get settled without a lot of thumb-twiddling.
7. TAX BENEFITS. Closing/settling on your home by the end of the calendar year could help your tax situation. Various settlement charges may be claimed on this year’s tax return as deductions that can lower your federal tax bill. Sellers may also be anxious to sell and take advantage of their own tax benefits during the current tax year.
8. NO PRESSURE. if you are a first-time buyer or renter, relish the fact that you have a completely flexible schedule to purchase a new home. You don’t have to make a rash decision based on selling your existing home and needing to find a new one quickly. Winter is a great time to look leisurely at homes and make a solid decision based on your schedule alone.
9. ‘TIS THE SEASON. With winter holidays upon us, many people are in a better mood than during other times of the year. Sellers who are motivated and enjoying or looking forward to holiday festivities can be easier to work with, more responsive, and more open to negotiations, especially if their buyer is open to closing after the holidays.
10. LOCAL EXPERTS. I know that every neighborhood is different. Let me help you find a home during this winter season — or any time. Contact me at anytime and I’ll help you secure a home that meets your needs and finances!
Marcia Goodman, Crossroads, Realtors Manassas, VA 703-819-4776