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A new home might not be on your Christmas shopping list, but that doesn’t mean you should stop the search for your dream house over the holidays.

Why Should I Buy A House Around Christmas?

• There is less competition during the holiday season. Families usually postpone buying a property during the holidays, as parents want to spend time with their children or are busy with Christmas shopping. You might be able to negotiate a lower price on the house, especially if the seller feels the pressure of less demand in the market. There might be fewer people bidding on the property you’re eyeing.
• Usually, the holidays bring a lull in listings, some sellers are motivated to make a deal before the property market slows down for Christmas.
• If the seller assumes that Christmas is not a good time to sell, then they might offer their property at a lower price to attract buyers.
• You might get flexibility from sellers who are motivated for a quick settlement. This can happen if the seller already has another property or if the property you’re considering has been on the market for too long.
• You might even get lucky if other buyers drop out due to Christmas.
• Real-estate agents and mortgage brokers want to get a deal done before the holidays start. So they’re motivated to help both the sellers and buyers before the lead-up to Christmas.
• Sellers might consider a low offer, as they’ll want to sell their property before the holidays begin. They know that if it’s not sold before Christmas, it will remain in the market until mid-January, when the market picks up again.
• Sellers become more realistic about the prices they’ve set and are willing to offer a discount to sell.

If you want less competition, less stress and a better deal on your dream home, then December might be a good time to buy. At Home Loan Experts, our mortgage brokers will help you get your finances in order so you can settle before the holidays start. Call us on 1300 889 743 or enquire online.

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Is December A Good Time To Buy A House?

A seller who was unable to move a property in October and early November realises that their property might not appeal to home buyers. So they might be willing to take a lower offer for their property in December, before Christmas. On the other side of things, other home buyers often feel fatigued in December from searching for their dream home. With Christmas around the corner, they shift gears towards celebrations, so there may be less competition. Buying a home in December is not without risks and downsides. It might take longer for banks to process your mortgage application, as there will be other buyers who want to settle before Christmas. Furthermore, solicitors and mortgage brokers might also be closing their offices, which can delay your settlement process. Since there might be fewer listings on the market, your options may be limited, too. Ultimately, the right time to buy a house is when you are ready. If you’ve been looking for a long time and find a property for the right price in December, make the purchase early, so you can settle into your home for Christmas.

Tips For Buying A House Over The Holidays

• 1. Get pre-approved for a home loan so you can move quickly once you’ve found your dream home.
• 2. See if you’re eligible for the first home buyer grants, schemes and stamp duty exemptions so you get bigger savings over the holidays.
• 3. While you’ve found a property to buy in December, the final settlement might take time. Set realistic expectations about closing the deal during Christmas.
• 4. Do not forgo pest and building inspections for a quick settlement. You do not want to find nasty surprises when you move into your home.
• 5. If the seller is offering a very discounted price, dig deeper as to why he/she is so motivated to sell. The property might be in a dilapidated state; the seller may already have another property to move into or could be in debt.
• 6. Be patient and be ready to jump on the chance when you find the right property. Do not put your best offer forward at first, as the seller might increase the price. Leave some room to meet the seller’s counter-offer.

It is not impossible to buy a house in December. It just requires a bit of planning and making an offer the seller can’t refuse.

How Do I Make An Offer To Get A House This Christmas

Getting your dream home takes a bit of effort. Here’s how you can get a house you want for Christmas.

• Make a list and check it twice. Make sure all your finances are in order and you’ve made a list of must-haves for your dream home. This is why you should engage with a team of experts at the start of your home buying journey.
• Make a generous offer once you’ve found a home you like. Your offer should show that you are serious about buying a home in December. Do not make a lowball offer that frustrates the seller. Make the seller aware of your terms and conditions, like a shorter settlement date or conducting a pest and building inspection before signing the contract.
• Be prepared for a counter-offer from the seller. Understand how willing the seller is to negotiate. Are they asking for a high price, or did they reject your offer completely? Be prepared to walk away if the seller does not entertain your terms.
• Keep your options open. Know what else is in the market and be prepared to make other offers. This helps you negotiate a stronger deal. The seller needs to understand that while his/her property checks the right boxes, you have other sellers lined up.
• Be quick. If all goes well, you might be closing before Santa climbs down the chimney on Christmas. Once you’re all ready, sign and seal the deal.

Need a head start on your home buying journey around the holidays? Our mortgage brokers are here to help. Take your time to get your finances in order and conduct the necessary inspections to reduce the risk of expensive shortcuts. Call us on 1300 889 743 or enquire online today.