Christmas is just around the corner, and despite an obvious slow-down in the market around the holidays, smart first home buyers and investors can capitalise on lower levels of competition, motivated sellers and the extra time that the holiday season brings.

The Do’s

1.     Use Your Time Well.

Most of us take the opportunity at Christmas to take a well-earned break after a busy year. Whilst we are all wanting to spend time with friends and family. If you are serious about finding your new home, now is a great time to spend the extra time whilst on holiday to thoroughly research the market and options. Buying a new home, whether you’re a first home buyer, upgrading or investing can take a lot of time, and during the year when work and life get in the way, it can be easy to take shortcuts. Use your extra time off at this time of the year well and you might save yourself a lot of trouble down the track.

2.     Book Your Appointments in Advance.

Its natural at this time of the year for many industries to enter a quiet phase and real estate sales is no different. Whilst a lot of realtors will be taking time off, most offices will have a small team available to keep the sales fires burning. If you are wanting to organise inspections of properties, you will need to make sure you have your preferred times and dates booked in advance, to ensure they are available. Additionally, as a lot of owners are away on holiday, it can be the perfect time to book inspections outside of weekly schedules. Being the first to view a property, might mean you get an early jump on the competition.

3.     Make the most of minimal competition.

Buying a home around the holiday season can mean that you have much lower levels of competition than other peak times of the year. Open inspections consistently see low attendance levels which means real estate agents and sellers alike are keen to make the most of the foot traffic they do receive. Also, without hordes of potential buyers all descending on the open home at the same time, you can take your time to thoroughly inspect your potential new homes and really get a feel for the home.

4.     Make the most of the seasonal strain.

Owners often look to sell around this time of year because they are wanting to downsize, minimise their mortgage payments for the following years budgets or are starting the new year with a new direction. The holiday seasons sees many very motivated vendors who are wanting to start the new year fresh. This coupled with low levels of competitive buyers means you are in a prime position to negotiate the very best deal. Always have the right loan pre-approvals in place to ensure you are ready to move quickly when you find the right home at the right price. Talking to your mortgage broker now means you can have all of the paperwork and approvals ready for your Christmas assault on the market.

5.     Property professionals take time off too.

If you are serious about buying around this time of year, it is vital that you have already sourced a licensed property inspector and appraiser who is willing and able to work over the Christmas break. If you do find the perfect home at the right price, you are going to want to be able to have your property assessors, advisors, conveyancers etc ready to move as well. Speaking with your team now about your plans over the break will mean you won’t be struggling to find the assistance you need when the perfect place comes up.

In summary, the Christmas period can be the perfect time to buy, if you are willing to invest the time an effort in being prepared to deal with the slow-down in the market. Whilst the quiet period can make it harder to move quickly, if you have already had the right conversations with your mortgage broker, property assessors, conveyancers etc this time of year can be the perfect time to snag a great bargain.

Most importantly, you should ensure that you have the correct pre-approvals in place for your loans, as banks and lenders also slow down at this time, and you might find your applications take longer than usual. Don’t leave it to the last minute. Speak to a professional mortgage broker today.

Bernie Kyne
“Professional Mortgage Broker”
Call: 0400-141-757