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The holidays are not only a great time to get together with friends and family, but they could be a great time to purchase your first home as well. Buying a home at any time can be complex, and doing it during a busy season may bring on added stress. Let’s walk through some tips to make it easy for you to get into your new home and on with your holiday celebrations!

Pros of buying during the holidays

During the holidays, many people are ready for a break from the regular day-to-day and want to sit back and relax. This could potentially work in your favor. While others are doing last-minute holiday shopping or baking, that means less foot traffic in the homes on the market and fewer distractions for you as a buyer. You’ll be able to take your time to walk through the house, and potentially have some negotiating power with less competition.

Another advantage is seeing how things hold up in the winter months, if the climate where you’re searching for your new home has drastic high and low temperatures. You’ll be able to see if the windows have a draft, and if the heating and plumbing can keep up with snow, ice and wind. It can save you the hassle later of fixing a problem you may not have known existed if you had purchased in the spring or summer.

Sometimes during the winter, interest rates can fall with a lower demand for homes. Another positive of buying at the end of the year is the ability to possibly deduct mortgage interest, property taxes and interest costs, which will reduce the overall property tax bill. Talking to your mortgage banker can help you determine if you can take advantage of these benefits.

With fewer transactions taking place, financing can be more favorable, and your banker can help you work through different scenarios to help you find the best options for an end-of-year purchase.

Cons of buying during the holidays

With every pro, there can be a con, and that is true for buying a home during the holidays as well. Sometimes, if the home you’re looking at is ready for the holidays, you may not be able to see the potential of the home past the holiday décor. It can be hard to determine if you love the fireplace in the living room or perhaps you can’t see the beautiful railing due to the garland on the stairs.

If you live in a climate that accumulates snow throughout the winter, it can be challenging to see the landscaping and what the yard could look like in the spring. It can also be hard to see what kind of condition the outside of the house is in, such as the porch or the shingles.

Another con to buying during the holidays is that your banker, real estate agent or appraisers may be on vacation. Working around a holiday schedule can be tough, but your team will work together to make sure they get the job done for you and your family.

While there are some cons to buying during the holiday season, the pros are quite favorable, and buying your first home is an exciting and fulfilling opportunity. Working with your banker to get the keys to your first home is an accomplishment no matter the time of year!