Why Are the Holidays a Good Time to Sell?

The holidays are that time of the year when families unite to celebrate the spirit of togetherness and giving. While most of us are absorbed in the holiday spirit, those planning to sell a house are busy making their move. The holiday season might not seem like the ideal time to buy or sell a home, but there are many benefits to selling a house during the holiday season. Here are some reasons why the holidays are an excellent time to sell.

 

You are likely to hear people tell you to wait till the spring to sell your home, but the housing inventory picks up as the new year kicks off. A house in a good community with many potential buyers can sometimes remain on the market for longer with tough competition. There is significantly less competition during the holiday season, and most sellers want to wait to think about listing their houses during or just before the holidays. This is why it is a great idea to take advantage of this.

 

You will be surprised to learn that many homes listed during the holiday may command more money, even with limited inventory.

 

It is common to see many open houses during the spring and summer months. It is also quite common to see people stroll into a home without clear plans to purchase it. They check out the houses for the sake of looking. However, if you put your house for sale in the winter and someone comes to look at it, chances are high that the person is serious about buying the property. If anyone who is out shopping for a new house during the holiday season is more likely to be a severe buyer considering they are spending their time looking at homes rather than with their families. A serious buyer will also result in a faster sale.

 

The holidays give rise to warm and cozy feelings in people. Homeowners who put up their houses for sale during the holiday season can dress up their homes to give off a homey and relaxed vibe that will appeal to more buyers.

 

Buyers tend to be more emotional around the holiday season and are more likely to decide based on how they feel about a house. Turn up the heat, have some yummy cookies baking in the oven and keep the driveway and sidewalk clear of debris to increase your home's appeal. There are also fewer people at the open houses during this time, which allows potential buyers to do a thorough walk-through without any distractions. This also increases the likelihood of them saying yes to buying your house.

 

At the end of the year, you're likely to encounter more serious buyers looking to make a decision quickly. While most people are hunkering down for the holidays, those actively looking for homes are likely more serious about finding their next home. While you may expect fewer showings during this season, you can expect active and serious buyers at this time of year. This may be for a few reasons: end-of-year job transfers, relocations, etc.

 

Many serious homebuyers consider buying a house during the holidays owing to the reduction in property tax bills. This is because such homebuyers can deduct the property taxes, mortgage interest, and even the interest costs of a loan if they can close the sale on or before December 31. While the new tax laws restrict this deduction, the tax benefits are still significant enough to prompt serious buyers to go house shopping in the holidays.