Reasons Why Winter is the Best Time to Buy a Home
Buy a Home During Winter for These Amazing Advantages
Spring and Summer tend to be the go-to season for house shopping, especially for first time home buyers. Who really wants to trudge from door-to-door looking at houses in weather under 40 degrees? But, there are distinct advantages to buying a home in the winter.
A typical mortgage loan means you will be paying for your home for up to 30 years. That’s a big commitment and investment. That’s why it’s SO important to be smart when looking to purchase a new home.
Here are the top reasons why winter is this best time of year to buy a home.
Spring and Summer are the seasons in which house hunting is in high demand. So, for first-time home buyers, winter means that there will be much less competition. This means you’ll have a better chance at getting the home you want without dealing with a bidding war.
Seller’s Willing to Make a Deal Sooner
Winter house hunting is great because you will have the upper hand when looking to buy a home. In fact, since the supply is higher than the demand, it’s likely you will be able to negotiate the price with the seller.
Seller’s are eager to sell their home as soon as possible. Why? Because there are less buyers, which means a lot less offers to consider. Because the market isn’t saturated dozens of home buyers bidding for the same house, now’s your opportunity to find your dream home for a fraction of the price it would be worth in the Spring and Summer!
But, that doesn’t mean you should make unreasonable demands or offers to the seller. It’s a good idea to work with a lender or real estate agent so they can help you create a solid negotiation strategy.
Prices are Lower
When you have fewer buyers in the market, supply exceeds demand. This usually results in prices being lower than during peak season. In January, the sales of price of homes is at its lowest point!
Realtors Have More Time For You
This also means that your realtor or lender will have a lot more time to focus on you and your needs. Since winter has such a low volume of sales, your realtor will work even harder to negotiate with the seller to meet your specific needs.
If you’re a first time home buyer, you could save a lot of money by buying a home in the winter. This will give you a few extra months of tax deductions!
There are several benefits to buying in the winter: prices are lower, there’s less competition and you might even get a good deal on the dream house you’ve been wanting. It’s time to bundle up and get out there to house hunt!
This article submitted by Ken Venick, MSRN Member