Christmas is just around the corner, and we’ll finally be able to escape the winter doldrums. This time of year is often associated with warm memories, family, and all of the festivities that you anticipate all year. When it comes to Christmas, real estate investing isn’t exactly top of mind — but it should be. Christmas 2022 could be an excellent time to buy property. If you’re looking to purchase a home for investment purposes, the housing market is on your side this holiday season.
We’re often told that selling a home in the run-up to Christmas is a bad idea because no one wants to buy, but this year is bucking the trend for a variety of reasons. Despite recent price increases, it may still be a good time to buy property at Christmas.
The market traditionally slows during the holiday season, with many buyers deferring their searches until the New Year, but the impending end of the stamp duty holiday has sparked more activity than in previous years. However, if you’re in a hurry, December is still a great time to get a good deal.
Before you start, get an agreed-upon mortgage that you can use to impress agents and sellers, and find a solicitor who will start the process before you’ve even found a property. If your conveyancer is on the ball, they can vet your documents ahead of time, such as proof of identity and source of funds, so you’re already ahead of the game when the right place comes along.
Here’s Why Looking for a Home Right now Might be a Good Idea
Driven Sellers always Sell Better
No individual will desire any uncertainty regarding their place of residence. It is almost like a sword hanging over someone until sorted. Hence, every person or family wants to complete signing and checking each aspect of the deal, before solicitors, agents, and other stakeholders can wrap up their activities for the current year. Sellers are always in the loop about home price trends. They know when prices are about to touch peak levels and hence, buyers should still make offers which are lower than the asking price. This will often be accepted, since sellers are expected to go for quick profits.
You Can Bargain for Additional Items
Because of the close proximity to the end of the year, sales agents and developers are frequently working extra hard to meet end-of-year targets and close deals before Christmas, which means more incentives are available to buyers. Don’t be afraid to ask for a little extra during the holiday season. If you can’t get a price reduction, see what else is available, including furnishings packages, reductions in stamp duty, and so on.
Check Out the Best Properties to Buy in Various Cities in India this Festive Season
Fewer Viewers Equals Less Competition
A lot of people put off hunting for homes until after the New Year begins. This is because of the fact that house viewings will be lower in December, due to extended holidays. Hence, they wish to make offers prior to others, while finding a great property at the same time. However, the market conditions are always conducive for serious buyers, since many agents also filter out buyers who are not actually serious, and are just looking or fishing around for properties.
There is Still Time to Wait for Tenants
You should know that the rental realty market is highly active throughout the month of January. Hence, purchasing real estate during the time of Christmas means that there will be oodles of time at hand for renovating or sprucing up the house, before renting it out in the next month to a new tenant.
You Can Benefit from the Sales
Christmas sales always come with excellent discounts and offers on a variety of products, many of which may be helpful in furnishing your new home, if you buy in this period.
Festive Season – A Big Boost for Residential Real Estate
Reports clearly indicate how the residential property market grew by a record nine-year high in volumes for property sales. This development was observed between January and June this year. Hence, with real estate becoming a coveted investment again for buyers, many millennial and other buyers across age groups are in the market for properties before Christmas. This will continue the momentum seen throughout the festive period as well. The realty sector already has bucketloads of optimism for future years, with better consumer sentiments and improvements in various market dynamics. The recent good run of the property market should continue in the near future, according to Indian property market experts.
FAQ’s about Buy Property During Christmas
Q1. Is before Christmas a good time to buy a house?
The realty market is already doing well in the festive period. There is Christmas and other celebrations coming up as well. The market has already recovered strongly over the last few quarters and now there is more confidence amongst investors and end-users alike. At the same time, multiple new launches have also taken place.
Q2. Is it a good time to buy a house in Christmas 2022?
In general, buying in the winter season that brings Christmas along will get you the best prices. According to a study published in the Journal of Housing Research, historically, housing prices are lowest in the colder months of the year, specifically the first and fourth quarters.
Q3. Does the housing market slow down at Christmas?
The weeks leading up to Christmas are traditionally a slow period for the property market as people focus on the holidays and put their property search on hold until the new year, but active buyers in December are usually good buyers who want to move quickly.
