Why Winter is the Best Time to Buy a Home
Winter is often thought of as the “off-season” for real estate, but these colder temperatures do present an upside to those who are looking to buy. Why compete with so many other buyers during the busier seasons? Here’s five great reasons winter is the best time to buy a home.
- Less competition: with many people focused on out of town plans or holiday planning, you’ll have less people to battle with for your dream home. Perfect purchasing power awaits when you’re one of the few people vying for that home you want (this often equates to lower prices when there’s no bidding war).
- Extra attention: because winter is often considered the “off-season” for real estate, REALTORS®, lenders and lawyers may be slower this time of year. What makes this great for you, is that you’re likely to get extra attention from all of the people on your home buying team.
- Motivated sellers: with less people on the market looking to buy a home, sellers are often very motivated which means they may be lowering prices or offering incentives to the buyers that show some level of interest in your home. More bang for your buck!
- Extra intel: the temperatures are very cold right now, and that gives you a unique opportunity to check out how a potential home withstands in this kind of weather. During showings, be sure to check for drafts and pay attention to windows, doors, etc. This is the kind of thing that can go unnoticed when you’re shopping in the summertime.
- Things will pick up soon: it doesn’t feel like it now, but spring is not that far away, and that’s when the marketplace will pick up again. The longer you wait, the better chance you have of running into bidding wars, higher prices, etc.
If you’re interested in buying a home this winter, talk to me about rates and pre-approval process.
