Most buyers search for a home during the summer. It’s simple really. School is out, people go on vacation, making it the perfect time to shop for a home. Most wouldn’t think the winter season is a good time to find your next home.
However, there are some unique perks to house hunting during the winter season that make it a glorious time for home buyers to find the home of their dreams.
Here are 12 reasons to house hunt in the winter season.
Sellers are Motivated
There’s no secret that most sellers tend to list their homes during the summer. So when a seller lists their home during the fall and winter months, it typically means they are pretty motivated. It’s easier for many to list during the summer when kids are out of school and they’re not having family get togethers. Any seller that has their home listed during the winter is typically pretty serious about selling their home. This can be an excellent time for you as a buyer to get the best property for your needs.
There is less competition
Because many people have events they would rather attend during the holidays than spend time looking for a home, the winter months can mean less competition. This is especially great for you because many homes were only staying on the market for 30 days or less during the summer of 2019. With less competition and fewer buyers browsing for a home, you might be able to avoid a multiple offer scenario, as well as having to outbid buyers.
Most sellers want timely closings
When winter hits, many sellers want quick closing times. The last thing they want is to be in the middle of moving during holidays like Christmas and New Year’s. A quick closing can also ensure both you and the seller are able to enjoy your new home with your family before the holidays.
Harsh weather shows any flaws in a home
Viewing homes during the harsher weather seasons can also reveal any potential problems with the home. If it was raining, you may be able to catch any potential cracks, weatherproofing problems or leaks in the home. The great part is that you might not have caught this during the summer months, so you’ll get first-hand knowledge whether the home has any structural issues
More time to negotiate
You can relax a little bit while viewing a home. Due to there being fewer buyers during the winter season, you may have more time to negotiate for the best deal on both sides. Buying a home is a serious financial investment, and you can take the edge off by having more time to negotiate. You don’t want to feel rushed into a decision.
Agents will have time to show you more attention
Every agent should give you their undivided attention when you’re looking for a home, no matter what season it is. Unfortunately, that’s not always the case. Some agents feel strapped for time during the summer and have to use their time wisely with each client. A lot of agents have business slow down during the winter. The good thing for you is that your agent will be able to give you more attention than when they have a slew of other home buyers they’re showing homes to. This also means that your agent may have extra time to go the extra mile while finding you your perfect home.
You can get a feeling for the neighborhood
When browsing a neighborhood, you’ll be able to see how people interact. Are people flying to work on a neighborhood street? Are their constantly kids walking to school on the street? Are the neighbors friendly? Is the neighborhood somewhere you can genuinely see yourself living? These are all experiences we might not be able to have during the summertime that you can experience during winter.
Get discounts from vendors
Not only do some agents have their business slow down during winter, but the same thing happens for mortgage brokers and contractors. If you need to get any work done on your home (or maybe even a home inspection) vendors may be willing to give you a discount to help drum up business during the slower months.
Flexibility on moving dates
You may also have a bit more flexibility on your move-in date when buying a home. If you need a specific move-in time period, discuss this with your agent. You may have a bit more time to stretch out when you move into your home.
More negotiating power with sellers
You might have room to ask for incentives you may not have received if you were browsing during the summer months. This will vary depending on your market so make sure to discuss what’s feasible with your agent.
Lower home prices
As mentioned, sellers who have their homes on the market during the winter tend to want to sell quickly. They may even feel pressure to sell quickly so they may move before the holidays. The desire to move may have sellers reducing the price of their home to sell sooner than later.
Better interest rates
Bankers want to close out their books before the next fiscal year. On top of that, many mortgage brokers in the mortgage industry are expecting home prices to rise by another $9000 in 2020. By choosing to purchase a home this winter you’re setting yourself up to get the best deal possible.
Navigating the home buying process can feel like a daunting task. The idea of searching for a home during the winter can feel even more intimidating, but a successful home buying experience during winter doesn’t have to be. Feel free to reach out to us at Quantum Real Estate. We’re here to help you create a successful home shopping experience so you will find the home of your dreams.