When it comes to buying a home your goal is to find one you love and also one that doesn’t come with a steep price tag – and fast.
There’s always this possibility if everything goes to plan, but during the winter months you have a better chance of this happening.
If you want to increase this likelihood, and look like a hero to your family, check out these 3 reasons why buying a home in winter may be what’s best for you.
1. Helps you narrow your choices
Let’s face it. Who really wants to go look at 50 houses, even in the best of weather? Looking at houses in the winter instantly decreases the number you’ll have to look at because less people are listing.
So if you’re willing to swallow the slim pickings, or you just don’t want to have to search and search, winter could be your best bet to find a home suitable for your needs without the extra time and stress.
2. Less buying competition
Another benefit of buying a home in winter is when you do find the home you want, you’ll usually have less competition.
Typically, there are fewer buyers in winter for a few reasons:
- There are fewer options for buyers to choose from
- Fewer people are willing to brave the bitter cold to explore their housing options
- Many parents with children in school find it easier to use their spring and summer months to search for houses instead of during the school year
Fewer buyers means there’s less of a chance there will be multiple offers on the house you want which means you, as the buyer, have some negotiating power.
3. Decreased price tag
The best part of being one of the few people who search for a house in the cold is that all your effort and days spent bundling up will be rewarded with a lower sales price – in most cases.
This depends heavily on the area, but in general because there are fewer buyers in the market, the supply of homes available exceeds the demand, resulting in a lower selling price.
Sellers in the winter have a higher tendency to be more motivated and willing to negotiate because they’re either forced to sell for one reason or another, or because they realize there’s less competition.
Do what works best
If you’re afraid you’ll be super picky about the house you end up in, you may want to wait until there are more options to choose from in the spring and summer. Although you’ll probably pay more, you’re more likely to find a home that suits your needs and wants.
If you’re less inclined to care about small features like whether or not the master bedroom has a tray ceiling, then you may be better off spending time looking in the winter for a new home. Although there’ll be fewer choices, those few choices will also usually cost less – potentially allowing you to put the money you’re saving back into the home to update it how you want anyway.
You really have to do what’s best for your needs.
Have you avoided buying a home in winter? Why?
