Can winter homebuying really be a good idea? The short answer is yes! Here is some information about buying a home this season to help you make a real estate decision.
Winter Homebuying Advantages
Conventional real estate wisdom tells us that buying and selling homes is best done in the spring and summer. The weather is nice and people are more likely to get out and house hunt, many families prefer to move during this time in order for their kids to start a new school in the fall, etc. Even though these reasons are logical, there are several great reasons to buy and sell in the winter. If you find yourself needing to make a move during this chilly season, don’t stress! Read on to find out why moving this winter can make sense.
- Less Buyers: Having less buyers around can be a great thing for homebuyers; less demand for houses may mean a better deal for you.
- Lower Inventory and Less Competition: While there is usually less homes available for sale during the winter, it is still possible to find your dream home and with less competition.
- Better Deals: With less buyers around that means there is a lower demand for homes. This usually translates to lower home prices than you would find in the spring and summer. If you are looking to get your dream home for less, winter is the time to buy.
- Sellers are Motivated: Due to a slower market in the winter, home sellers are usually pretty motivated to sell. Often times, sellers are more willing to compromise on the sale price of the home, closing costs, closing date, etc.
- Less Biding Wars: Even though the spring and summer are great times to buy and sell, often times there are more bidding wars taking place which can be great news for a seller but not so much for buyers. Less inventory and less competition during the colder months can translate to less bidding wars that often drive up the price of the home.
