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Should You Buy a Home before the Holidays?

By Amy Wood in Holidays, in buying a home in New Jersey, in New Homes in New Jersey, in New Homes for Sale in Hillsborough
Should You Buy a Home before the Holidays

28

September
7 hours ago

Are you ready to make a move but aren’t sure if the holiday season is the ideal time to buy a home? Holiday house hunting offers some surprising benefits for Central New Jersey homebuyers.

Fewer Bidding Wars

Most buyers wait until the spring to think about purchasing new homes. When a particularly appealing home or lot for building comes on the market then, owners often receive several offers, spurring a fierce bidding war that can significantly increase the cost of the home or result in your loss of the lot or home.

When you shop for a new home around the holidays, you’ll face less competition and fewer bidding wars. You may also find the entire process less stressful when you don’t have to make quick decisions about homes and can take a little time to carefully consider the benefits and disadvantages of every property.  

Motivated Sellers

Homes on the market during the holidays generally fall into one of these three categories:

  • Holdovers: The homeowner may have originally listed the house in the spring, but hasn’t been able to attract buyers or listed the price too high. By the time the holidays arrive, the price may have dropped from the original cost.
  • Last-Minute Listings: Some houses enter the market for the first time during the holidays. As everyone is busy enjoying the season, you may be able to slip in and get a great deal on a new home! 
  • New Construction: Builders may offer lower prices or include upgrades as an incentive to buyers during the slower months of the year. You may also find great deals on former model homes or quick delivery homes that are already under construction.

Easier Identification of Issues

Realtor.com reports that it’s much easier to spot potential problems with a house during the fall and winter months. You’re likely to notice little details that you wouldn’t spot if you toured houses on a beautiful spring day. Heating systems that don’t keep the home uniformly warm, drafty windows or other issues are particularly obvious during the cooler months. Once you know about these problems, you can make sure they get fixed.

Less Costly Moves

High demand increases the fees moving companies charge. When you move in the fall or winter, you may find that prices are lower and may even be able to convince a moving company to match the price of a competitor.

When you move during the spring or summer, you may be forced to accept a less-than-convenient moving date or time, due to the high demand for the movers’ services. Demand usually isn’t a problem around the holidays. In fact, you may have your pick of dates and times.

Snow Information

Snowstorms are unavoidable no matter where you live in New Jersey and can affect your commute or even your ability to drive to the store for a gallon of milk. Unfortunately, every municipality has its own approach to snow removal. Depending on their snow removal budgets, some townships clear major and minor roads promptly, while others may do an adequate job clearing major roads but neglect less-traveled ones. If you happen to visit a home after a storm, you’ll see just what you can expect when the snow begins to fall.

Black Friday and Holiday Sales

Chances are you’ll have to make a few new purchases when you move into a new house. Your furniture might not fit the dimensions of your new home, or you may realize that your dining room furniture doesn’t complement the style of your house. Thanks to Black Friday and other sales, you may realize significant savings when you outfit your new home during the holiday season.

Tax Advantages

Buying a new home can offer certain tax benefits. If you itemize deductions, you may benefit by deducting any closing fees you must pay. The property tax deduction may also decrease your tax burden slightly. Although you may only pay taxes for the last month or two of the year, the savings can still be beneficial. Check with your accountant for a full list of expenses you can deduct as a result of your move.

Is a new home on your holiday wish list? Country Classics at Hillsborough offers brand new executive homes featuring large lots, four bedrooms, 2.5 bathrooms, gourmet kitchens and large family rooms perfect for entertaining. Contact us if you would like to become a Country Classics homeowner  - but hurry as we are in our final phase of homes in this sought after location!

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Sources:

Realtor.com: 5 Surprisingly Smart Reasons to Buy a Home During the Holidays

https://www.realtor.com/advice/buy/reasons-to-buy-a-home-during-the-holidays/

CBS News: Is a New House on Your Holiday Shopping List

https://www.cbsnews.com/news/home-shopping-during-the-holidays/

US News and World Report: 4 Reasons to Buy a House During the Holidays

https://money.usnews.com/money/blogs/my-money/2013/12/10/4-reasons-to-buy-a-house-during-the-holidays

 

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Amy Wood

Vice President of Operations at Country Classics

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