Top Reasons for Buying A Home During The Holidays:

There’s a variety of reasons for buying a home during the holidays.
The advantages of purchasing at this time of year include less competition for homes, year-end tax advantages, lower home prices and faster closings.

Plan For Holiday Savings
You should understand and not deviate from what you want to achieve whenpurchasing a home over the holidays to get it for the best price and capitalize on year-end tax incentives. By making use of these strategies, you can begin the new year celebrating with savings in your new home.

According to data from Trulia, October and December every year, starter home inventory in the U.S. will get a 7% increase. According to a recent analysis of more than 18 million single-family home and condo purchases over the last five years, there are 10 days a year when buyers can count on big savings.


"In the hot home markets during the past five years, only 10 days of the year offer discounts below estimated market value. There's seven days in December, and one each in October, November and February,” according to a report by ATTOM Data Solutions.

The single best day to save on a home is the day after Christmas, December 26th.  Data compiled by ATTOM shows that buyers willing to close on a home purchase the day after Christmas realize the biggest discounts below full market of any other day of the year.  On average they save approximately $2,500. If a homeowner has their home listed for sale over Christmas, that person is absolutely serious about selling that home. So, why not write an offer and see how the negotiations go from there.


More Motivated Sellers
It shouldn't be difficult over the holidays to locate properties that are poorly maintained. Lots of sellers who list their homes for sale during December are very interested to sell their property.
Some reasons for doing this are because of a recent divorce, loss of a family member, challenging financial times, a job relocation or other personal change of circumstances.  People are more inclined to be generous during Christmas, even though it could mean reducing the asking price.

For another group of motivated sellers, builders and investors, their motivation to sell is business related as opposed to personal.  Similar to car dealers at year end, inventory needs to be moved so you can get a holiday deal on a home with builders upgrades on flooring, paint, fixtures, and cabinets.
The longer an investor or builder owns the house, the more costs they'll pay to maintain it. Just because you are happy beyond belief about the price, don't forego a home inspection by a professional.

Less Competition from Home Buyers
Fewer buyers are out looking at homes during the week of Christmas, so the possibility of multiple offers or any competition in the slightest is very low.
Most buyers take a break from searching for a home to celebrate the holidays, go to parties, or getting ready to host visiting guests.  Then there's the weather in December which is usually colder and not so appealing to look at homes.

Tax Advantages
Buying a home in December can help you save in April and going forward. Homeownership comes with many tax benefits, starting off with deducting interest on your mortgage to property taxes. Although, the maximum property tax deduction is $10,000. The recently passed House bill permits homeowners to write off the mortgage interest up to $500,000, which is fifty-percent less than it was in 2016.

Always check with your state as they may have a homeowner's tax exemption.  Look into possible closing fees that are tax-deductible when you itemize.  The best person to find out from is your tax accountant.