I'm sure that when you think of the best times to buy a home, you immediately think Spring or Summer. However, while it may be true that there are more homes on the market during Spring and Summer months, house-hunting during the winter may actually be to your advantage. In this post, I'll give you insight from a realtor's point of view on why buying a home in the winter may actually be the better choice.
1. Fewer buyers to compete with
This is the main and most obvious reason to purchase a home in the winter. The market is less saturated with buyers, and you'll get your pick of the crop, whereas in the spring and summer months, there are no shortages of potential buyers, leaving you with more competition and stressful bidding wars, leaving you paying more in the end for your dream home.
2. Prices are lower
When buying in the winter, the market is a lot slower, and there isn't a huge interest in real estate, which leaves home sellers with no choice but to lower their pricing to attract serious buyers.
3. Sellers are more motivated
Sellers will be more motivated to cater to your needs to get their house off the market and have a sold sign hanging out on their front yard. They are more likely to negotiate the price of their home, whereas in the peak season, you will face a lot of competition and not have the chance to negotiate a fair price, so basically, in the winter, sellers are getting less attention and will be eager to work with you, leaving the low-demand in your favour.
4. Your Real Estate Agent has more time for you
Real Estate Agents are always busy, and thats just a fact. But in the Winter moths, you'll probably leave fewer voicemails than you would during peak months. Their schedules are cleared up just a little bit more because it's a slower season, leaving them with more time to study the market and help you find your dream home quicker than ever.
5. You get to see how the home reacts to cold weather
This is especially if you are house hunting in a colder climate. You get to see first hand how the home copes with colder weather; such as the furnace, the basement, windows and door sealant, the fireplace… etc. Getting this unique opportunity to see how well the home copes in colder weather is something that isn't to everyones advantage in the spring and summertime.
So, what are you waiting for? Call me today and lets get house hunting!
