Why You Should Consider Selling Your Home During The Holidays
Putting it simply, when you sell your home during the holidays, you will face less competition, find more serious buyers, and may even be up for a quicker sales process. It also presents a unique opportunity to create a warm and cozy environment that you can’t present during the spring or summer months.
In the current pandemic, buyers are looking for inviting, cozy spaces that they can anticipate spending most of their time in.
Here are some very good reasons to rethink the old adage that this time of year is not
the best selling season:
Lack of competition
The common belief has been that listing a home in the spring and summer will ensure
exposing your property to the largest pool of buyers. However, remember that those
months also have the most homes being listed so buyers have so much more to choose
from. What the holiday season offers is the chance to stand out. When there is less to look at, you get more buyers looking at the properties that are available.
More serious buyers
We all know that the holiday season is a busy time. People house hunting now are
serious about their desire to purchase a property. You will not find casual buyers
looking at this time. Holiday buyers want to make a purchase sooner rather than later.
Holiday buyers are also going to be caught up in the season, where emotions are
running high and where they are thinking of the past, and more importantly, the future.
Buyers can often be more enthusiastic about purchasing things when they are
emotional, as the retail sales records around during the holidays demonstrate.
It is a known fact that most Americans take a majority of their vacation days between
the week before Thanksgiving and the New Year. While much of this time is taken up
with holiday planning and events, this year will be different. The pandemic will greatly
curtail many holiday festivities leaving potential homebuyers with more free time to
research the real estate market and more opportunities to select their dream home and
make an offer.
Leverage buyer emotions
Let’s face it, the holidays bring out a spirit in all of us that can’t be duplicated in other
seasons. The festive atmosphere in our neighborhoods and local towns set a tone for
buyers seeking their forever home. These emotions are a big part of a transaction.
By setting a stage in your home of festive elegance, you will remind your potential buyer
what their holiday season could be in the future.
A New Year means new jobs and people on the move
The year end is when many businesses offer positions to new employees. Most
businesses use the fourth quarter to review their business plan and make both financial
and staffing decisions for the upcoming year. The Bureau Of Labor each year
estimates this season to traditionally have the largest increase in U.S. jobs. With new
jobs comes a psychological motivator to find a new place to live.
Smart home buyers are looking for any break they can get, which can make buying at
the end of the year particularly beneficial. Buyers looking right now are probably aware
that they can write off some of the expenses of the home purchase on their taxes.
There are also tax benefits of owning a home they can take advantage of, including
deductions for mortgage interest, private mortgage insurance premiums (PMI) and tax
credits for real estate taxes, that can increase the buyer’s motivation to purchase before
There is no question selling your property during the holidays, with colder weather, shorter days and the need for private time with family, can be a challenge. However, for those who are willing to take advantage of the opportunities it opens, it can mean more money and/or better terms on the sale of your property.