Believe it or not buying a home at the end of the year has many crucial benefits. As the year winds down, home sellers are anxious to get their listings sold. They do not want to keep the house on the market during the holidays, and they certainly do not look forward to having it on during the snowy cold month of January. For these reasons sellers may be more negotiable than at other times of the year. Considering we are in a seller’s market right now this can make a huge difference in the buyer’s negotiating power.
Many homes that are still available at the end of the year have been on for a long time. This gives the buyer more favorable options when making an offer as well. The newer the listing, the less negotiating power for the buyer.
In addition to pure buying power as an advantage of buying a home at the end of the year, this time of year also makes it easier for kids to transition into a new school. Although the actual closing may not happen until early 2017, most schools will allow you to register your kids as long as you show an executed sales contract. This way they can start off the semester at their new school.
So if price, negotiating power, and schools are top priorities in your home search, you should strongly consider the benefits of buying before the end of the year.
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