Why Putting Your House on the Market During the Holidays is a Good Idea
Many families are taking advantage of this hot housing market to put their house on the market. While the holidays are generally considered to be the slowest time of the year to list your home, there are also some lesser-known advantages of selling your house during this time of the year. Here are just a few of the reasons that point to why the holidays are a great time to list your home.
During the popular spring and summer markets, there are open houses galore. With so many homes flooding the market at this time of the year, it is easy for casual lookers to plan an entire day out of looking at homes just for fun. The moderate weather also makes it more enticing for people to hop to various open houses as a form of entertainment, even if they have no intention of buying a home.
If you list your home during December, there is a far greater chance that everyone that attends your open house is a serious buyer. Not only are they getting out in the cold weather to check out your home, but they also taking time out of their busy holiday schedule to devote themselves to this activity. This is not your casual open house attendee that may walk through the door in June. Because you are attracting serious buyers, the entire process is also likely to happen more quickly.
Less Inventory Available
Unlike the busy spring and summer buying season, there is far less inventory available during the winter. This means that you will have less competition from other homes, making it easier to sell yours more quickly and at a higher price point. Prospective buyers will not be able to be as picky about the little things if they do not have as much inventory to choose from. This advantage is particularly beneficial if you already have your new home secured.
End of Year Tax Breaks
Financially savvy buyers understand the importance of finalizing the purchase of a new home prior to the end of the year. If the sale closes prior to December 31, a buyer can deduct numerous aspects of the home purchase, including mortgage interest, closing costs, and more. These impending tax deductions can be a significant motivation for buyers wanting to leverage their finances to the fullest extent.
People on the Move
The dawn of a new year on the horizon means that many people are on the move. This is the most common time of the year for people to accept new jobs that may necessitate that they move. Because of this, you will find prospective buyers that have an inherent sense of urgency built into the home search process. You can capitalize on this urgency by timing your home to hit the market when more people will be making a move. This is an especially successful approach if you live in a market that attracts transplants because of specific job industries.
Easier to Create That Cozy Feeling
While many people shy away from listing their home during the winter months because of the added headache of having to clear snow, pick up muddy floors, and all of the other drawbacks of the season, the truth is that it is much easier to create that cozy and welcoming vibe during the holidays.
Be sure to take advantage of the warmth and magic of this time of the year and stage your home accordingly. Light a fire in the fireplace to create a cozy feeling, bake some cookies just prior to the open house so that the aroma wafts through the home, and light some candles to convey an inviting vibe.
This advantage is especially apparent if you live in a neighborhood full of homes that decorate for the holidays. Prospective buyers will see your neighborhood in a more positive light if the homes are lit up and oozing holiday cheer.
Although there can certainly be challenges that come along with listing a home over the holidays, there are also clear opportunities in this timeline. By leaning on the positive parts of trying to sell your home this time of the year, you may find that your potential for a fast and profitable transaction also increases.
Other Featured Posts
Arkansas Veterans to Receive Housing Assistance Vouchers This Month
In a report issued on Friday December 11, the Pine Bluff, AR, housing authority will receive and distribute 10 housing choice vouchers provided by the United States Department of Housing and Urban Developmen...READ MORE
Dealing with a "Frozen" Housing Market? Here Are Buying and Selling Tips
Right now, the housing market in the United States and many countries abroad is considered "frozen". In other words, government restrictions as a response to the COVID-19 pandemic has left many who were...READ MORE
Winter Home Essentials You Need During the COVID-19 Crisis
Autumn arrived a month ago in the northern hemisphere, and winter won't be far behind it. Now is the time to start preparing your house for the long winter ahead. Public health experts expect a surge in COVID-19 case...READ MORE
The Housing Market Is the Most Volatile It's Ever Been: Here's Why
The housing market always ebbs and flows in different markets. After all, people constantly move around for jobs and other issues. On average, each American moves about eleven times within his or her life. Th...READ MORE