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26
Minnesota Home Buying: The Holidays Are a Great Time to Buy a Home
The real estate market in the Twin Cities is booming. There are a number of homes in Minneapolis and Saint Paul available. However, what is the best time of the year to purchase your new home? Surprisingly, it's not always during the spring or the summer. The holiday season is a great time to buy a new home. Moving may sound like an extra headache with family obligations, seasonal activities, and holiday shopping, but consider these advantages when house hunting in November and December.
- Motivated, Sometimes Even Desperate Sellers
Sellers are likely motivated and more likely to negotiate with serious buyers. Most sellers aren't any more excited to be selling their house during the holiday chaos than you are about buying it. They have a reason to sell their home now. Some of them may have had their house on the market since early fall, and they need it to sell before January to relocate to a new job and get their children settled in a new school. - Less Competition
During the winter, there often is about 25 percent fewer houses for home buyers to consider. While there are fewer houses, there are also fewer potential house hunters this time of year. It means you may not have to go through as many open houses or battle home-buying competition in a bidding war. - Lower Prices
Historically, December has shown some of the lowest real estate prices. Homeowners are often willing to negotiate during these off-season times but use caution. If you ask for too many concessions, you may lose a good deal on the house. - Faster Closings
Both parties involved are motivated to close on the house as soon as possible so that everything is taken care of before the holiday. You can be settled in your new home, and if the sellers are moving, they'll have everything taken care of as well. All the professionals, from the mortgage broker to the real estate agent to the bank, want the transaction on this year's books. - Envision the House in Winter
While one advantage of house hunting during colder months is to see the neighborhood trimmed in lights, you can also see how quickly the city plows so you know that you won't be driving on poorly maintained street. Also, this is a good time to see the home's heating system in action.
Our real estate agents can assist you in finding the right house this fall and holiday season. Contact us at Counselor Realty to begin your home search during Minnesota's upcoming holiday season.