Here are our 6 reasons to buy in the winter:
As the temperatures cool down home prices do too. It’s simply supply and demand. Historically there are fewer people looking for homes in the winter, which drives prices down. Buying during winter could mean you will pay a little less for your dream home than you would in say, June.
Home systems put to the test
The cold winter temperatures, snow and ice can be taxing on a home and it’s systems. Running heat, cold pipes and more can cause faults in systems to show. This is perfect for a home buyer. As you see houses during the winter pay attention to the temperature:
-What’s the setting on the thermostat?
-Are the windows drafty?
-Does the house feel warm or chilly?
Paying close attention to these details can prevent you from buying a home with low quality windows or a poorly functioning furnace, for example.
Sellers during the off-season are usually not selling because they want to. Either their home has been on the market for a few months or they often need to move due to a job transfer, etc. Winter sellers are frequently more motivated and may be more inclined to negotiate with buyers.
By waiting until the winter to start your home search, you are likely to receive better service. Inspectors, appraisers and moving companies have more availability and mortgage brokers have fewer files on their desk.
Buying during peak season can lead to bidding wars and emotional turmoil over not getting the home you fell in love with. During the winter there are fewer buyers and less chance for competition. While inventory may be lower, you will have a better chance of getting the house you fall for, likely at a lower price.
Knowledge of road conditions
Sellers will receive notice of your upcoming showing, but the snow plow will not. Consider scheduling your showings on snowy days (if the conditions aren’t terrible) so you will be able to see how quickly, if at all, the roads in and out of the neighborhood get plowed. While the snow is falling, expect to see snow covered roads, but several hours later, or the next day, the roads should be passable.
The benefits for home shopping during the winter can get you more bang for your buck while helping you avoid buying a poorly functioning home. Enjoy home shopping and make the most of the season! Maybe you’ll be celebrating the New Year or Valentine’s Day in your new home.