House Hunting During the Holidays

With multiple festive affairs on the horizon, many Americans have begun shopping—not only for holiday gifts but also for fantastic real estate. However, low competition and high buyer motivation between November and February may make it easier than you think to buy or sell. And while there are unmistakable challenges you might face before the New Year, including weather and scheduling conflicts, ’tis still the season to be jolly. With the following info in hand, you could very well make your buying or selling dreams come true.

For buyers

Here are some of the top considerations for eager house hunters around the holidays.

Schedule only intentional viewings
Taking a tour of every open house in town may be a fun way to spend a weekend, but because this time is packed with gatherings, sellers may be less likely to entertain window shoppers.

So if you plan on viewing a home, be sure that you’re serious about potentially putting in an offer. This particularly holds true if you schedule a private tour, which can be especially time-consuming for a seller. That means talking to your agent about the property and considering if its price point, location, and features suit your wish list before arranging a visit.

Look for key features
Thankfully, there’s also a key advantage to house hunting during the festive season: You can weigh how holiday-friendly each home is. Does a property offer enough living and dining space for entertaining? Does it feel cozy and welcoming? Most importantly, does it give you that palpable sensation that leaves you speechless, ultimately inspiring you to make new memories in its ambience?

Consider winter weather
Every season comes with its trials, but it’s especially pertinent to determine how well a home handles cold conditions. Depending on your region, they may include risks of frozen pipes, increased heating costs, and deteriorating plants in the landscape.

Taking this cautious approach can protect you from making an unwise investment. A good place to start is to carefully review each home’s disclosure form, which must list any notable flaws about the property. Additionally, scheduling a home inspection will grant you an expert’s latest perspective on the home’s condition. Depending on the feedback, you may even want to draft a contingency into your offer proposing that the home must pass a new inspection and that the seller will make any necessary fixes before you buy.

For sellers

If you’re hoping to hand over ownership of your home for a great price, here’s what to deliberate first.

Consider investing more
Starry-eyed house hunters eager to make their holiday wishes come true could have higher or even unrealistic expectations at this time. Moreover, savvy buyers may know that many owners are eager to sell and try to take advantage of your situation. As such, these choosier individuals could express stronger criticism of any flaws they identify in your home (or hear about from an inspector or agent) and use them to request a lowball offer. You may therefore need to invest accordingly.

Ask your agent if any features need improvement, and then use this list to plan upgrades. Focus on what buyers will be more likely to see in listing photos or on tours, including the front entryway, kitchen, and primary bathroom.

Pare down your trimmings
Staging your home to sell means something different around the holidays. While the usual tenets will still apply, such as painting your walls in neutral colors and eliminating clutter, seasonal decorating becomes an additional concern. Should you charm buyers with the holiday spirit or shirk all timely decor and risk appearing like a humbug?

It’s a good idea to display simple, tasteful decor that represents winter generically, not a specific religious holiday, such as dressing your coffee table with white-and-silver centerpieces. If you intend to keep your holiday traditions alive while selling, show restraint. For example, choose a smaller tree and neatly decorate it, and minimize other decorations so buyers can still envision their belongings in the space.

For buyers and sellers: practice patience

Remember that a real estate transaction requires several hands on deck, not just the seller, buyer, and respective agents. Mortgage lenders, inspectors, real estate lawyers, and other professionals may be integral to your purchase, but keep in mind that holiday schedules can limit each of these parties’ availability.

This means that it may take more time than you’d like for you to close the deal. Talk to your agent about establishing a realistic timeline that factors in seasonal delays, and consider adjusting your moving schedule accordingly.

Though the holidays are a season of whimsy, high spirits, and delight, avoid getting caught up in these feelings as you approach either buying or selling a home (or both). With these tips in mind and an agent’s consistent guidance, you can make prudent moves and ring in the New Year with a successful transaction under your belt.