Winter isn’t often thought of as the prime time to buy or sell a house, in fact, it is often considered to be “the slow season.” Because of this reason, however, it tends to actually be one of the best times to buy! Those brave enough to house hunt in the winter months will find a buyer’s market on their side. Below we’ve explained three benefits to buying a home during the winter months, so bundle up and get out there.
1. Low Competition
Because not many people consider buying homes this time of year, the house that are on the market will have fewer buyers vying for them. Families are less likely to uproot their kids and move neighborhoods during the middle of a school year and in areas with cold temperatures and snowfall, moving during these months can be a hassle compared to the milder seasons. Multiple-offer situations will be less common during the winter months and sellers know this, meaning any offers that you place will be seriously considered and more likely to be accepted.
2. Motivated Sellers
Houses that remain on the market or are listed during the winter months often have highly motivated sellers. Don’t make the mistake of jumping to the conclusion that sellers want to get rid of these houses because they are “fixer uppers” or have something wrong with them. These houses are often on the market because of a homeowner’s unexpected job or lifestyle change, or even because it was recently inherited. Sellers know that this isn’t the prime time for selling a house, so they will be more likely to agree to whatever offers they receive, even if it’s lower than the listed price.
3. Better Prices
Not only are sellers more likely to accept lower offers in the winter months than they would normally, they also will price the homes at a lower rate. Since sellers realize that not many people are looking to buy a home in the winter, prices are often significantly lower than they would be in the spring, summer or fall when the market is more competitive.
If you’re looking to buy a house or thinking about putting one on the market, give us a call! We’ve got a great team of agents who will don their winter scarves and boots in order to help you sell or buy your next home.