A common myth in real estate is that the holidays are the worst time to sell your home, while the ideal time to sell your home often falls in the spring months, and many people are too busy with the holidays to think about purchasing a new home. Most people like to start shopping in the spring to be settled in their home before the start of a new school year. However, putting your house on the market around the holidays has more benefits than you might be aware of.
INVENTORY IS LOW
This comes to no surprise for some of you. Atlanta inventory has been low, and buyers are still out there looking. Studies have shown that homes listed around the holidays can command more money and sell quicker than ones listed in the spring. One reason is there is less competition during the holidays. Most people won’t put their homes up for sale during the holidays for a multitude of reasons. That leaves the buyers with limited inventory to choose from, meaning a homeowner can have a higher asking price.
DECORATE YOUR HOME WARM AND COZY
The holidays are known to have hot chocolate, homey decor, nice smelling cakes and pies, and a cozy fire. Homeowners putting their home up for sale during the winter months can stage their homes to truly play up the “homey” feel that appeals to many home buyers. Having cookies or a pie baking in the oven gives off a pleasant smell. Keeping the sidewalk and driveway clear of snow and ice can also boost a home’s appeal. Decorations always seem to hit home as well, so don’t feel like you need to shy in the holiday lights or candles.
END-OF-YEAR BREAKS
Most people have end-of-year bonuses and tax breaks that they might want to use for a down payment. Reducing the tax bill is not the main reason buyers purchase a new home but could be the reason serious buyers move during the holidays. If the home sale closes before Dec. 31, buyers can deduct the mortgage interest, property taxes and interest costs of the loan. Tax deductions can be significant and prompt a home buyer to move during the holidays instead of waiting until the Spring.
Overall, nobody wants their home sitting on the market nor do they want a lower price than what they are asking for. Although many fear that will happen if they list their home during the holidays, that usually isn’t the case. When buying or selling a home during the holidays, there will be less competition, more serious buyers, and a quicker sales process. There are also great opportunities to create a cozy holiday environment that can make for a more desirable home.