Best Reasons to Buy a Savannah Home During the holidays
Many home buyers think they have to shut down the search during the holiday season. They get busy and decide it will just have to wait until next year.
Even though moving during the holiday season isn’t ideal, it might be a better time to buy than you think. There are several great reasons to buy a home in Savannah over the holidays. Here are just a few of the best reasons.
Sellers are Motivated
Sellers are thinking the same thing as you on the other side of the situation. They know buyers stop looking as hard during the holidays because they have other things to worry about. This helps to motivate sellers to get their home sold.
Usually, there’s a good reason why someone is trying to sell their home throughout the holiday season. Maybe they have to relocate for a job or the home has already been on the market for quite a while. When you’re dealing with a motivated seller, you might be able to get a much better deal when negotiating. This could be the best reason to buy in Savannah during the holiday season.
Close Much Faster
With incentives to sell and to buy, the closing usually goes faster. In addition, real estate agents, lenders and all parties involved want to get the transaction wrapped up before the end of the year. This helps with closing the books and getting paid before the new year begins.
Since the situation is a bit more urgent, closing on a home during the holidays usually goes much faster. Motivation from the buyer, the seller, the agent, the lender and all parties involved to get the deal done will ensure a smoother and faster closing, which is always a bonus.
Those itemizing their taxes will be able to deduct closing costs, mortgage interest and property taxes on the upcoming taxes when they buy before the year is over. You can consult with a tax professional to find out the full advantage for your situation, but buying during the holidays in Savannah may provide some tax benefits for the upcoming tax season.
Less Activity on the Market
The holidays do scare off many buyers and some sellers. This means, there won’t be nearly the competition you’d deal with during other times of the year. Many families have school and work activities to deal with, along with regular holiday parties and events. You can take advantage of this time and avoid a bidding war.
The holidays make it easier to get a lower price on the home you want without dealing with multiple bids. Sellers often adjust their price because they need to sell. Now is the time to look for a bargain.
Lower Interest Rates
The cyclical trend for interest rates usually has them lower during the months of November and December. While some companies have the ability to increase prices and still generate sales, the lending industry doesn’t have this luxury during the holidays. With limited demand for mortgages during November and December, lenders offer lower interest rates to attract business.
You can score a lower rate on your mortgage by choosing to buy during the holiday season. Lenders may be a bit more lenient about the lowest rates they offer, as well.
There are several reasons to buy a home in Savannah during the holidays. While it’s not the ideal time to buy due to the many events and things you may have going on, if you can find the time to house hunt and go through the buying process, you might just score a deal.
Sellers are usually very motivated, but so are lenders. This is the time to hire a local real estate agent and have them help you find that perfect deal on the perfect Savannah home.