Buying a home in the winter might not sound like a great idea. Battling snow and the cold, it can be hard to find the motivation needed to get up and out to check out houses. We get it.
Because of this, the winter is traditionally a slow period for real estate. But that means that there are actually a number of benefits to buying a home in the winter for those willing to take on the challenge.
Below are just a few of the reasons why you will want to consider buying a home in the coming months.
Reduced Competition
By and large, real estate’s busiest times of the year are in late spring and throughout the summer. Fall brings with it the kids are back to school, as things slow down in preparation of the colder months ahead. But even though winter is coming, sellers don’t stop listing their homes.
Homes come onto the market throughout the year for any number of reasons. Winter is no exception to this. Which means that the good news for buyers is that there generally less competition looking to buy a house. You have the chance to take your time and take your pick of the homes available with less concern of getting outbid or missing out.
Faster Deals
In most situations, sellers want to get a deal done quickly. If the house has already been sitting on the market for some time and the sellers know that there are few buyers out there, there is a good chance that you can strike a deal fast.
When buying a home in the winter, make sure you understand as much as you can about the seller’s situation. Are they selling in order to move somewhere warm? Is there a timeline that they are working against? How long has the home been on the market?
By knowing where the friction is, buyers will be able to appeal to the sellers. Put all of this together with a strong offer and you will be happy you braved the weather to find the deal!
Easier to Negotiate
When looking for a home in a seller’s market, the buyer is at the mercy of the seller. However, when there are fewer buyers out there and a home has been sitting on the market, buyers can find themselves with a little more negotiating power.
When buying a home in the winter, buyers will find that the sellers are generally more motivated to negotiate anything from the price to the closing details. That being said, you will still want to avoid making an insulting offer.
Cheaper Services
A real estate transaction requires the services of a number of professionals. Home inspectors and appraisers, lawyers, moving companies, and storage facilities are usually all involved one way or another. But as the real estate market slows down over winter, so does the need for their services. As a result, home buyers have an easier time finding the services that are best for you, when you need them. And you can find some wiggle room on their fees.
For example, when working with a moving company over the winter, you can find their prices discounted as much as 30% off their summer prices. Additionally, their schedule will be more open, allowing you to choose a time that works best for your schedule.
We understand that buying a home in the winter might not sound like a great idea. But deciding to do so can save you a lot of time and money, not to mention help you find the home without battling with other buyers!
