December is known as a time of gift giving and holiday shopping. Buyers can find lots of offers and great opportunities to save on various gifts, but many of them wouldn’t think of going so far as to buy a home. If you happen to be a buyer looking to perhaps buy a house for the first time but have chosen to put it off, December may be a great time to take the plunge and experience the perks of homeownership in 2016.
Since December isn’t typically known for buying activity, purchasing a home could work in your favor. Because of the fewer buyers in the market, the prices of homes are intentionally made to sell. What’s more, you’ll reduce the odds of having to deal with other buyers making competitive offers. Buying a home now can also give you great tax perks when it comes to file next year.
Assuming you’re planning on applying for a mortgage, loan officers may be more willing to provide incentives because of the fewer amount of applications. These potential incentives could be something like reducing or perhaps even waiving origination fees. The time it takes to underwrite a loan is also reduced, potentially giving you leeway to negotiate a better deal with a seller if you can close the sale within 30 days.