Are you in first-time-home-buying mode? Check out these home-buying tips and discover the top five reasons why buying a home in winter could be your best bet.
1. Sellers are motivated to unload their homes.
If you’re selling a house, the popular wisdom is to list it during the spring and summer. People listing their house in the winter might be doing it for important personal reasons. Perhaps they’re relocating for work, dealing with financial issues or splitting up with a spouse. Because they could be anxious to get a deal done, you might be able to better negotiate on selling price or speed through a closing.
2. You can get a good deal.
New homebuilders are always looking for ways to perk up sales during the slow season. That’s why some of their best incentive programs pop up during the winter—they want to make the home-buying process as attractive as possible. Check builders’ websites or call them to see if there are any special promotions or purchase incentives in your area.
3. You can get a full perspective.
No, the azaleas won’t be in bloom. In fact, many of the trees will be bare and the interior will appear darker than it does in the spring. That’s not a bad thing—you’ll get a fuller picture of what life is like inside a home. Plus, the cold weather can give you an inside scoop on how the house functions. Do the windows keep out the cold? Are there drafty spots in certain areas of the house? Does the fireplace work? A winter perspective can be a real benefit.
4. People are sitting on their couches.
In the winter, it’s cold, it’s dreary and it gets dark early. It’s not ideal house-hunting weather, but, could be a great time to get a leg up on the competition. There are other reasons buyers are unmotivated in the winter: Lots of people don’t want to disrupt their families during the middle of the school year, and many buyers feel the squeeze of Christmas travel and spending. While the rest of the competition stays inside and puts off buying a house, it might be a good idea to bundle up and see if you can get a better deal.
5. The real estate pros can give you more time.
According to the National Association of Realtors, there is 15% less inventory during the winter than in the warmer months. With less activity, realtors and loan officers have more time to spend with you. You’ll not only receive more attention; you might be able to get a better mortgage rate. And because lenders have fewer loans to process, you might be able to move through the mortgage process faster.
Information from Ryan Homes