Buying Condos Around the Holidays

While many people interested in buying condos take a break from their condo search during the holiday season, in part because of the winter weather, December is often a good time to get great deals from motivated sellers.

As the new year approaches, many sellers are very interested in finding buyers for their vacant properties, or renters as the case may be, before January rolls around. And qualified buyers can often find the home of their dreams at a discount, or with some sort of money-saving incentive. That benefits buyers and sellers, because everyone gets to enjoy a fresh start in January.

For instance, in addition to reducing the selling price of the condo, some condo owners, from the South Loop to the Gold Coast, and other attractive neighborhoods in Chicago and elsewhere, are now offering to give buyers a break on monthly assessments. Some are offering deals that would not require buyers to pay monthly assessments for the first three months of ownership, as long as the contract is signed before the end of the year. Imagine what a great holiday present that would be, worth several thousand dollars to a cash-strapped buyer.

In addition to those buying condos, in many cases people renting condos can also benefit by signing leases before the end of December. By doing so, they can often qualify for a reduction in rent for at least the first few months.        

Many of these deals are not widely advertised, but working with one of our condo specialist Realtors ® at OwnACondo.com is a great way to find these sales. The condo specialist you are working with will know exactly what type of condo or townhouse you are looking for, in which towns or neighborhoods, and will be sure to negotiate with the seller to find the best deal possible for their clients.

Of course, many people with young families like to move during the summer so their children do not have to switch schools in the middle of the year. But to get the best deal, you wouldn’t have to move in this month, just sign the contract by then. So if you are ready to finance a condo now, don’t wait for the spring thaw because the sales might be over. When it comes to buying condos, December is as good a time as any to do it.

While everyone else is at the mall, you can get ready to ring in the new year on your own doorbell.