Buying and Selling During the Holidays
Things to Know Before Buying or Selling a Home During the Holidays
Given their druthers, most people prefer not to buy or sell a home during the holidays. It’s such a busy season in other aspects of life, but there are certain advantages to holidays showings and sales: People in the market to buy or sell at this time of year are motivated. Unlike other parts of the country, foul weather isn’t an issue in Hawaii. In fact, you may find “snowbirds” who want to move to a warm climate as soon as possible, and have the time to look for a new residence over the holidays.
If you’re a seller, keep the holiday decorations to a minimum. Your home should feel welcoming to people of all faith traditions. Many holiday decorations overwhelm or clutter rooms, and that’s not conducive to selling your home.
Less Competition for Buyers
Buyers face less competition for available homes during the holiday season. Holiday buyers are more committed to purchasing a home rather than just browsing through open houses. A plus for buyers may prove a negative for sellers, as they’re more likely to receive lowball offers. The downside for buyers is that, with less inventory available, they may not find a home suiting their needs.
An offer on a house made in early to mid-December is unlikely to go anywhere until after the start of the new year. Everyone involved in the closing – including lenders, appraisers and home inspectors – is more likely to travel or work fewer hours during this time. Keep that in mind if you want to close on the home by the end of the year for tax purposes. A buyer with children who wants their kids in a new school system after the holiday break should realize the process may take longer than they anticipated. The same holds true for relocation buyers starting a job in the beginning of the year.
House Showing Inconveniences
If you’re extra busy during the holidays, house showing becomes an inconvenience. You want your house to look neat and clean, but that’s often difficult when you have gifts and wrapping paraphernalia scattered around or are involved in serious holiday cooking and baking projects. Add shopping, parties and other holiday happenings, and you may not simply have time to keep your house looking up to par.
Whether buying or listing a house for sale, waiting until January generally makes more sense for both parties. However, if you can deal with the inherent inconveniences of house shopping during the holidays, go ahead and seek your new home or list your current one. It could end up a savvy decision.
If you’re looking to buy or sell a home you need a knowledgeable, experienced realtor. Contact Island Realty Group LLC at 808-689-7407 or IslandRealtyGroup@irghi.com.