Why Buying or Selling During the Holidays Can Bring Added Cheer

While Black Friday savings doesn’t generally apply to new homes, it may be surprising that the holiday months can actually be the best time to buy and sell. Purchasing a new home as a Christmas present may seem above and beyond, but can actually make the most sense financially if you’re in the market to do so! The reality is that during the months of November and December, the market dwindles down to more serious buyers and sellers -- which can benefit both parties if done correctly.

Those who are looking to sell now might be relocating and out of necessity have to put their home on the market. Others might have had to wait for repairs or remodeling to be done on a new home, and only now are they prepared to list their current property. Still others might just find this, although not at the height of the selling season, is the best time for them to start the move process. If you’re thinking of selling in the next month or two, consider these tips:

Prepare Your House for a Sale - Having fewer people in the market over these short months means there are more serious buyers looking, so make sure your house is as move-in ready as you can make it. Declutter, and make sure your home is winterized. Serious shoppers want to know that the home repair punch list has already been attended to before moving in.

Limit Your Holiday Decorations - Remember that over-decorating for the holidays is not always the best idea if you’re putting your house up for sale. Avoid overly religious decorations by choosing more universal décor for fall and winter, keeping your home festive but also appealing to every type of buyer.

Maintain the Exterior - Staging your home in the fall and winter months is even more important than it is throughout the rest of the year. Having to deal with leaves, snow, icicles, salt and dirt on the exterior means more mess on the interior, so look at your home through the lens of a prospective buyer and be a little critical on the appearance. First impressions matter (especially in real estate), so present your home in a way that enables those buyers to visualize it as their own.

Cozy, Cozy, Cozy! - It might be a chaotic time for most with the holidays upon us, but don’t say “no” to an open house. The winter months are the perfect time of year to make your home cozy, and one guests won’t want to leave. Turn up the heat, play some soft background music, and offer homemade holiday treats. Having to leave in the cold will make buyers remember how comfortable they were in your home.

House hunters looking to buy now might have just relocated into the area, or plan to buy in the spring and want a sense of what’s on the market – or they’ve been waiting for properties in a particular neighborhood to be put up for sale. Take these ideas into consideration if you are one of those folks in the market for a new home:

Make a Serious Offer - Just as with selling a property, the lack of competition is a benefit for prospective buyers as well. Having fewer counter-offers to sift through, your offer will most likely be at the top of the pile for consideration. But make sure you present a serious offer, so consult with a knowledgeable real estate agent before coming up with a number that you both agree would work.

Understand the Deadlines - People looking to sell during these months are looking to close quickly, and closing before December 31st is ideal for tax purposes.

Don’t get left in the Dust - Work with a reliable real estate agent who will maintain your best interests throughout the holiday season. Find someone who can be trusted and will keep in contact during these busy months – and ask about communication policies so you’re not left high and dry if you’re in a time crunch.

Realize the limited Selection - Having a limited selection is the flip side of the coin with buying a home during this period. While you can capitalize on a seller’s urgency, it’s important to understand that it may be a process to find just the home you’re looking for. Realize it sometimes it takes a while to sift through the inventory before you discover that great buy.

Along with the fun that comes during the holiday months can be plenty of chaos. For those of you trying to add buying or selling a property to your holiday to-do list, understanding what is needed for success during this “down” period in real estate is the key to keeping your holiday spirit alive this year. If you do, you’ll be ready to toast to an exciting New Year.