While the calendar may soon be turning from 2019 to 2020, that doesn’t mean you’ve run out of time to buy a North County home this year. In fact, the end of the year can be a great time to get an excellent deal on a home you love. If you’re in the market to buy and want to close before the clock strikes midnight on December 31, here’s what you need to keep in mind.
Many sellers are motivated
When you’re shopping for a home at the end of the year, you will find that many sellers are motivated. This is especially true if their home has been on the market for more than a few weeks. Those sellers that are motivated to finalize a transaction by the end of the year may be willing to accept a lower bid. They may also make other concessions to seal the deal.
Fewer buyers are competing
Spring and summer tend to be the busiest seasons in real estate. This is true even here in Southern California where we have wonderful weather year-round. But people who have school-age children often try to move while school is out of session. This helps to minimize the difficulty of the transition for their kids. This means that there will be fewer buyers out there competing for the same homes and your offer is more likely to be taken seriously.
You have a little wiggle room
When competition is fierce, it forces buyers to make decisions quickly. There is no time to “sleep on it”. But at the end of the year, you may find that you have the luxury of a little wiggle room. If you find a house that you’re interested in but you need some time to think about it, you may be able to take a night or two to mull it over.
It’s a good time to move
We don’t have to battle freak snowstorms here in North County San Diego. That means the end of the year can be an ideal time to move. You’ve probably got some vacation time stored up that you can use to pack up and move. You’ll also find it’s easier to hire movers because they aren’t as busy. You can be more flexible with your moving date and may even get a price break to boot.
Start building equity
Finally, if you’re a first-time homebuyer, then the end of the year can be a great time to buy your first home. Why put off the opportunity to start building equity? Instead of paying rent, which is money you’ll never see again, you can pay on your mortgage. Once you’ve built up enough equity, you’ll be able to take out loans for things like renovations or even college tuition.
Contact the Clark & Gilman Team
If you’re ready to find your dream North County home, then contact the Cristine Clark & Jamie Gilman Team at 760-758-1211 or [email protected]. We look forward to hearing from you and discussing all your real estate needs. Here’s to celebrating the New Year as a new homeowner!