Thinking about buying a home this holiday season? While most people are focused on turkey dinners and gift shopping, savvy buyers know this time of year can be packed with perks. Here's why shopping for a home during the holidays could be your best move yet.
Mortgage Rates Are Looking Better
Good news! Mortgage rates have eased slightly from last year. As of November 27, 2024, the average 30-year fixed rate is 6.81%, down from 7.22% a year ago. While rates are still on the higher side historically, this dip can make a difference for your budget. Pro tip: Lock in your rate now before any potential changes in the new year.
Less Competition = More Opportunities
Holiday months mean fewer buyers in the market. Why? People are busy with travel, celebrations, and gift-giving. For you, that means less competition for your dream home. Imagine finding the perfect property without having to battle multiple offers!
Sellers Are Ready to Deal
Sellers listing their homes this time of year are serious. Whether they’re relocating for a job or needing to move by year’s end, they’re often more willing to negotiate. You could score a great deal just by being ready to buy when others are taking a break.
Great Deals Are Everywhere
Speaking of deals, homes that have been sitting on the market for a while might see price drops as sellers become eager to close before the new year. Plus, with fewer bidding wars, you have a better chance to get the home you want at a price you’ll love.
Take Advantage of Year-End Tax Breaks
Did you know buying a home before December 31 could save you money on your taxes? You may be able to deduct mortgage interest, property taxes, and even some closing costs. It's like a holiday bonus for becoming a homeowner!
The Bottom Line
Buying a home during the holidays might not be traditional, but it can be surprisingly rewarding. With less competition, motivated sellers, and potential savings on taxes and rates, now could be the perfect time to make your move. Contact us to get started.