Winter House Hunting
November 27, 2019 |
Winter is a great time for a lot of things:
- Ice skating
- Building snowmen
- Freezing your tuckus off
- Drinking cocoa
- House hunting
Wait what? House hunting? That doesn’t seem right, does it?
But it’s true. In fact, some real estate experts consider winter to be the best time to purchase a home.
Why you ask? Well…
You’ll have less competition. A lot of people, especially those with families, prefer to move in the summer when they don’t have to deal with schools and homework and the like on top of house hunting, packing and moving. According to Realtor, 40% of home sales happen between May and August. So if you want to avoid getting into a bidding war with other home buyers, consider purchasing a home in the winter months.
You can see the house in extreme conditions. How drafty are the windows? How well does the heat work throughout the house? What’s the winter curb appeal (dead or barren plants)? Is the home well-insulated? All of these things you can check in the winter, but can only guess at during the summer.
Sellers are willing to make a deal. Sellers who list their homes during the winter are usually pretty strongly motivated to sell, and that gives you the upper hand. People sell their homes in the winter because they need to — job relocation, for example. And because not as many people are house hunting in the winter, the homes could be up on the market for longer periods of time, making the sellers even more willing to make a deal. So you could get a great house for a steal.
There are a lot of great benefits. Since fewer people purchase homes in the winter, you could close on your house even faster than if you purchased it in the summer. And if you’re purchasing your first home, there could be tax benefits you could take advantage of. Plus, hiring movers will be a breeze, since there isn’t as much of a demand for their services in the summer. You’ll have your pick of companies, and could even get some killer discounts.
You could get more of your realtor’s undivided attention. Again, because there are fewer people out there looking for houses, you’ll have more of your real estate agent’s attention. They want to make you to buy a home as much as you want to — possibly more — because they’ll get their commission. And who doesn’t love an extra deal during the holidays? So with their calendars more open, they’ll work harder for you and could negotiate a great deal on your dream home.
So what are you waiting for? This cold weather won’t last forever — if you’ve been thinking about buying a home and are ready to take the plunge, now is the perfect time to do it! And Dime can help.