Is the week before Christmas a good time to buy property?
If you happen to find a property you like in December, you can be savvy and secure it in the weeks leading up to Christmas because as the buyer you generally hold all the negotiating cards at this time. Once December rolls around, the buying competition becomes thinner as most are thinking more about Christmas day approaching and the related work parties, present shopping and winding down for some much needed R & R than they are about embarking on a major decision like a property purchase.
And this is where you can take advantage.
People often ask me, “Is Christmas a good time to buy property?”. Personally, I’ve bought many properties in this final week before Christmas, as it’s a perfect opportunity to pounce on a property by understanding the psychology of the vendor at this time. Sellers who keep their properties on the market at this time of the year are motivated. Put simply, the vendor wants to cut the Christmas turkey knowing a deal’s done and they can put it out of mind. But in general, buyers tend to get reluctant to buy close to Christmas as they prefer to “wait and see” – which is code for life is becoming too rushed with too much going on this side of Christmas so they’ll deal with it, along with the other new years resolutions, next year.
Understandably, the vendor can become quite desperate to secure a deal.
If you’re prepared to make a “cheeky” offer prior to Christmas, the vendor is faced with the thought that if a deal doesn’t get done with your offer, then it’s highly unlikely that any deal will be done before February when other buyers wind back up again.
So whilst the final week before Christmas can be a busy month for us all it can also be the ultimate buyers market week!