6 Reasons Why Winter Is A Great Time To Buy A Home
Traditionally, the months of May-August see the largest volume of home sales and typically higher prices. During the winter months, homebuyers are less inclined to brave the cold weather and a sometimes a painful trek through snow and bad weather to look at homes, but there are some great reasons that winter is a great if not the best time to buy a home, especially around the month of January.
And here’s why:
Motivated sellers – better deals are possible
In many cases sellers who offer to sell their homes during the winter months instead of the traditional summer months, are selling because they need to. If you find a home that has been lingering on the market into the winter months, chances are that the seller will be motivated to sell, giving you the buyer, more leverage to get a better price.
Better idea of how the home behaves in bad weather
Homes that are bought in the summer may be spruced up, looking great in the best weather conditions. Buying a home in the winter is an opportune time as it will give you valuable insight as to how the home responds to harsh climate, with regards to things like how drafty the windows get, how well the home stands up to the cold, how well the furnace works, how easy it is to access the driveway….
Easier to book a mover
During the summer months when house buying and selling activity is at its peak, movers are booked solid. During the winter months, with less activity going on, you can probably get a discounted moving rate and a wider selection of moving companies to chose from.
Easier to get a contractor
Just as the summer is busy for moving companies, the same holds true for contractors and renovators. Many households want some urgent work done or complete a remodel before they move in to their new home. During the summer these companies are booked solid. During the winter months, because demand may not be as high, it would be easier to find a reliable contractor who may do a better job without rushing to the next job.
Faster closing periods
During the busy summer months, mortgage brokers are typically backed up for days and maybe even weeks, so your closing may be subject to your lender’s schedule, which can be somewhat frustrating to say the least. You could end up closing much faster in the winter, hence making winter a good time to buy a home.
Fewer homes available means more diligent searches
A large number of homes are usually available during the summer months, and it can be easy to get overwhelmed by the number of homes available on the market. However, with fewer homes being available during the winter months, your search for a home may be focused on your needs and the most important things you are looking for.
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