Everyone knows the prime house-hunting seasons are spring and summer, when the grass is green, tree foliage is full and flowers are in full bloom. But that doesn’t mean you can’t land a hot deal during the winter. Here are a few reasons why shopping for a home in the winter might be a smart decision.
Less competition. While cooler temperatures in many areas may keep many people inside, if you decide to take the plunge, you won’t have to compete with as many buyers. That means less pressure to make a quick decision to avoid losing out on the home of your choice, and more time to check out additional properties, consider all of your options and negotiate with sellers.
Sellers are more motivated. Many people who put their home on the market during the colder months are anxious to sell it as fast as possible. Perhaps they’re relocating for a new job or need money for a down payment on another property. With fewer would-be buyers, sellers get less attention and fewer offers, making them more motivated to reduce the price and close the deal.
Quicker closing. Real estate agents, mortgage lenders and title companies have fewer clients in the winter, which can result in a swifter closing. And remember, you can always help speed up your home-buying process by knowing how much you can afford, getting pre-approved for a loan and having a good down payment ready.
Gain more insights. Viewing homes on cool, gray days puts properties in a different light – picture bare trees and no flowers – so if you love a property, imagine how wonderful it will look when colors are popping in the spring and summer. And unlike a sunny 75-degree day, you’ll be able to tell if a house is drafty, a sure sign of poor insulation.
There are definitely advantages to searching for a home during this slow season, but don’t get overconfident and expect miracles. Yes, sellers often are more willing to negotiate, but avoid making a low-ball offer that might insult them and doom your chances of getting the home of your dreams.
If you are considering buying a home this winter, get started today by contacting me an experienced Coldwell Banker-affiliated agent who has the resources and tools to effectively guide you through the entire process. Or visit 5280RealEstate.com to view all available properties in your area.