Why buy your new home now? Here are a few solid reasons why buying in winter is the perfect time to find your dream home.
Come spring, everyone looking for a new home will start their search again. It is the peak season and it will run rampant through autumn. Winter isn’t a popular time to move because kids are in school, and well… let’s face it… its cold outside.
This is actually a huge advantage as bidding wars are left for warmer months. The chances of someone else swooping in and offering a better price on your dream home is highly unlikely.
Another huge advantage is that lack of competition drives pricing down a bit during the winter months. In a Housing Market Analysis done by Zillow, they recommend sellers put their homes up for sale at the beginning of the spring. This is because buyers pay $1,500 more than the average sale price, across the USA, during peak season. In winter… they paid about $3,000 less!
The Zillow article above mentions the “constrained” inventory of homes. Within a housing shortage, it is a seller’s market. Yet, in winter there aren’t as many buyers on the market so sellers are much more motivated to sell. Therefore, they will also be more willing to negotiate.
You may be able to negotiate pricing, closing date and/or costs, maybe even a few extra appliances. When it’s summer and there is so much competition, there is not much incentive for sellers to negotiate.
Checking Out Cold Weather Features in The Cold Weather
In an area with seasons, you will want a furnace that works in winter. In summer you can turn it on to see it all lit up and pretty but how is it in the home when the temperature is near freezing? Heating and insulation are not only important but are an expensive fix which could be unwanted surprise come November.
Buying a home in winter will let you see the house functioning properly or improperly when it’s actually cold outside. Is there a breeze blowing the curtains near that closed window? Is there a thick layer of ice built up on the exterior? You would never know these things in spring or summer and will avoid an expensive mistake.
Having the Full Attention of Your Realtor
A great Realtor will always be there for you, no matter how busy they are. Yet, there are only so many hours in a day and during peak season your realtor will have several clients. The winter months tend to be slower which logically means you’ll get more attention. With more time on their hands, realtors can research more potential homes and will be able to devote more time to you and your home search. This will make things easier, faster and quite frankly, more fun.
The Bottom Line
Winter is a great time to buy a new home. Grab your hat and scarf and call your Realtor! Your dream home is waiting for you!