Holiday Homebuying Guide in NYC

Normally, people prefer to purchase a home during the Spring and Summer. This would explain why home sales surge during these seasons.

But buying a home during the Holidays can offer a wide range of advantages, especially if you are hunting for a home in the Big Apple.

While you may not get the best views of your ideal home because of the snow cover, buying a home during the Holidays comes with several perks. Not only are there motivated sellers around this time of year, but you also have less competition to deal with.

That's because most buyers would rather wait until spring to resume their home-hunting. That's also a good thing because less competition means lower median sales prices. 

Do you think you could get a good deal around this time of year? Before you decide on buying an NYC home during the Holidays, consider these takeaways:

1. Set your targets early

With the challenges you will face during the Holidays, you will need to come up with a clear game plan to make your search and the ensuing transaction easier. 

The Holiday season isn't always the ideal to be pursuing your homeownership goals since real estate professionals are taking time off to be with their families.

With this in mind, give yourself at least a month before starting your search to build a list of realtors, contractors, home inspectors, and moving companies you can work with.

The earlier you get started, the better. No one (including you) will have to sacrifice the Holidays just to close in on your dream home.

2. Talk to a local real estate professional

The NYC real estate market isn't your typical housing market. In addition to the insanely high median prices, NYC properties present numerous hurdles to overcome.

If you are new to the sector, you will be most likely overwhelmed by the processes and requirements you will need to satisfy to finalize your home purchase.  

As with any other type of real estate anywhere in the country, buying an NYC home would be easier if you lean on the knowledge and experience of a local real estate professional.

Get a broker to help you locate properties in neighborhoods that match your needs. It also helps to find someone with a rich network of contractors and sellers if you want to reduce the time it takes to close your ideal home. 

3. Make the most of every negotiation

People who sell their homes during the last weeks of the year have clear intentions. It’s either they’re planning to relocate to warmer regions or move up to a larger home.

Whichever the case, sellers will make sure they get the most money out of the sale. On your part, you may need to stand your ground and ensure that you’re in the best position to lower the price 

One way you can do that is to get pre-approved. This shows your desire and readiness to purchase the property. 

You should also retain the home inspection contingency in your offer so that every damage or issue will be addressed before closing. The findings can also help reduce the final price or, at least, get the seller to shoulder the repair costs on your behalf.

Winter isn’t the best time to buy an NYC home, but what’s stopping you from making your move during the Holidays?

All you need is timely and valuable advice from an experienced real estate professional.

If you need help with securing your dream home for the best price this season, let’s connect! Call me at 917-627-5677 or send an email to [email protected]. Let’s talk about your needs, and, while I’m at it, I’ll show you around the best neighborhoods. 

Sounds good? Let me know.

Talk soon,

Eli