One of the biggest questions that home buyers have is about when to buy a home. When’s the perfect time? When can you get the best deal?
REALTOR® Cindy Herrera has seen it all, year after year, and in the video below she shares the top 3 mistakes that home buyers make during the holiday season:
Mistake #1: Misusing credit cards.
For many people, the holiday season means they’ll be spending more money than usual. People start shopping and often put it all on a credit card, but this can mean trouble if you’re trying to buy a home.
This will definitely impact and affect your debt to income ratio, and can affect your credit score in a negative way. Being strategic during this time of year can save you a lot of trouble and get you that much closer to getting the home you want when you want it!
Mistake #2: Spending savings on gifts.
The holidays are a special time of the year, and it can be tempting to go all out when it comes to piling up gifts under the Christmas tree. In fact, if you’re not careful, you might even end up dipping into savings that was meant to go toward a new home!
Of course, we encourage you to resist. Owning a home will be an amazing gift in itself, and you won’t regret creating a budget ahead of time and being disciplined about sticking to it.
Mistake #3: Waiting until spring season.
This one is the biggest mistake that home buyers make. During the winter, there’s lower inventory and home buyers may feel like there’s nothing on the market they like. They get busy with the holidays, and it’s tempting to just wait until spring and summer to get really serious about finding a new home. Of course, sellers are thinking the same thing—that buyers aren’t interested in the winter. As a result, they don’t want to sell during the holiday season.
Because of this, oftentimes when sellers list their home during the holiday season, it’s because they’re people who need to sell their home. What does this mean to buyers? This means that the sellers are particularly motivated, and they’re more willing to negotiate. This might mean you get a great deal, all because of the time of year you chose to buy a home in!
What better gift to give yourself and your family over the holidays than a new home!
Do you have any questions? If you’re thinking about buying a home and want to get in before Thanksgiving or Christmas (imagine Christmas morning in your new home!), don’t hesitate to get in touch:
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