Are you thinking about buying or selling the property during the Holidays, towards the end of the year, and you need to know if it's a good idea? I will answer some of your common questions about buying and selling a home in Hawaii during the holiday season. The Holidays are typically my second busiest time of the year for a few reasons. People have time off during the Holidays, which allows them more time off of work to move. Those relocating with families want to disrupt the school year as little as possible. Many job-related transfers happen during the Holidays.
The Holidays tend to be a time when we think about spending more time with our friends and families. For example, you could be in a situation where your parents are getting older and you want to be closer to them. Or your children are having grandbabies, and you want to be within driving distance of them. There are many circumstances where life situations change and it affects your desire to move. My job is to help you make the best decision possible for your circumstances.
Buying a Home During the Holidays
Here are a few reasons why buying a home during the Holidays could be a good idea. Reason #1 is that there's less competition. Many people are busy with Holiday festivities and travel this time of year, so there are typically fewer buyers in the market. This gives you more negotiating power and makes it more likely that you'll find a home you love and perhaps get a better deal on it.
Reason #2 is motivated sellers. Some sellers are motivated to sell their homes before the end of the year for financial or personal reasons. They may be willing to accept a lower offer or make other concessions to close quickly.
Reason #3 is tax benefits. If you close your home before the end of the year, you can deduct certain mortgage-related expenses such as mortgage interest and property taxes.
Reason #4 is Holiday spirit. Home buying can be a stressful process. But the Holiday season may make it more enjoyable. You may find sellers who will be more willing to work with you and willing to make things happen.
You will also find potential challenges to buying a home during the Holidays. You may have to be flexible with your moving date. We need to balance your needs and the seller's needs in terms of timing for closing, the Holidays and travel. Two tips for buying are to start your search early and be prepared to act quickly. This means having your pre-approval already in hand. Please reach out so we can chat about whether it is the right time for you to buy,
Selling a Property During the Holidays
There are some reasons why selling a property may be a good idea for you during the Holidays. The first two are the same that we talked about for buyers. It works both ways you have less competition as there are typically fewer homes on the market. Buyers looking at homes during the Holidays are generally serious about finding a place to buy. They may be moving for a new job, relocating to be closer to family, upsizing or downsizing.
Third, you can also take advantage of Holiday cheer. You can use Holiday decorations to make your home more inviting and appealing to potential buyers. Fourth, there are also tax benefits to consider. If you sell your home before the end of the year, you can deduct certain expenses on your taxes, such as capital gains and real estate commissions.
Of course, selling your home during the Holidays also has potential challenges. You can run into both logistics and Holiday commitments. Like buyers, all parties may need to be more flexible with the closing date to accommodate everyone's needs.
A few tips for selling your property during the Holidays include pricing your home competitively to make the property show-ready. Be flexible with making your home available and work with an experienced professional.
Overall, buying and selling a property over the Holidays can be a good idea, but weighing out the pros and cons of your situation is always important. But please don't assume the Holidays are a terrible time to transact. Set up a time with me to discuss whether it's the right time for you and your circumstances.
I hope this provided a good overview of the benefits of buying or selling during the Holidays. If you have any additional questions about real estate on Oahu. Please reach out to me using my contact information below, or via social @Jillward808. Please feel free to like this video and subscribe to this channel to receive more information about buying and selling on Oahu.