Picture it now… the city is coated in snow; the smell of roasted chestnuts floats through the air; the chill of the winter’s wind grazes the nape of your neck; the sound of fewer bidders competing against you for your dream house… wait, what? I don’t remember that from Miracle on 34th Street, do you?
A lot has changed since that classic came out; home buying strategy certainly has evolved since the days of black-and-white TV. You’d be forgiven if you didn’t instinctually conclude that winter is the best time of year to purchase a home, but we’ve got a few points worthy of consideration. Grab a cup of tea and gather round the fireplace, we’ve got a stocking full of reasons to make your next move in the winter months.
1) You’re Likely to Face Less Competition
Unless you’re looking in a market without any bad weather (which, you know, good for you), you’re going to encounter the cold, rain, snow, and all sorts of adverse conditions. For every prospective buyer that braves the elements to check out a property in person, there are at least two more that decide to stay inside and keep their feet dry. Less people on the hunt means fewer offers, and thus, a lower chance you end up in a bidding war or dealing with an all-cash offer.
2) Sellers Are More Motivated
Piggybacking on the above point, fewer buyers in the market means sellers are extra motivated to sell their homes. In the warmer months, more tours and more competition means sellers can kick back and watch the offers roll in. That’s not quite the case in the winter, meaning that with a competitive offer, you’ll have a much better chance at acquiring your target property at a price that’s a bit more palatable.
3) You’ll See The Home Deal With Weather
Everything’s a breeze when it’s eighty degrees and sunny without a cloud in the sky. But when it’s thirty degrees and the snow won’t stop falling? That’s when you’ll really need that heater to come through for you. If you’re doing your shopping in the winter months, you’ll get an up-close view on how the home performs when facing adverse weather conditions. Considering this is where you’re taking shelter from said adverse weather conditions, we’d say this is pretty important.
4) Close On Your Home Faster
In those breezy summer months, mortgage folks are often backed up with work since everyone wants to purchase when it’s balmy outside. If you’re savvy enough to consider making your purchase when the days grow shorter, it’s likely that your lender will be able to assist you in a more punctual manner. In real estate, every single day counts!