Advantages and Considerations for buying A Home in Winter
Although conventional wisdom is that buying home in colder months is not a good idea, it’s simply not true. There are several advantages to buying during winter—and many effective strategies for doing so successfully.
Benefits of winter buying
With its shorter days and holiday seasons, winter makes us want to push off our big projects until spring. However, it is an ideal time to buy a home for many reasons. And with help from your real estate agent, you can improve your chances of buying for a fair market price.
Spring and summer are the most popular times to buy; therefore, there’s often a lack of competition from other buyers during winter, so buying a home in winter can put you in the driver’s seat, by giving you leverage and negotiating power.
Generally, winter sellers are motivated sellers. They’re likely moving for reasons that do not allow them to wait until the busy spring and summer markets which are typically laden with listings. For instance, January is one of the most significant months for corporate job relocations. Those sellers often have to move as quickly as possible, especially if they have children in school.
During winter, the principle of supply and demand kicks in—sellers are more likely to negotiate with buyers on the price due to lower demand levels, increasing your chances of purchasing a home under market value.
Considerations for buying.
Buying a home in the winter can have disadvantages, so depending on your circumstances, you’ll want to weigh the pros and cons and the various options available for you.
Since the weather can be unpredictable, scheduled showings may be interrupted, or your moving day may need to be postponed. Try to manage your expectations by being flexible and having a backup plan in case of delay.
Because the days are shorter at this time of year, it may be difficult to take in all a home may have to offer, especially when touring a home later in the day.