Is winter the right time to buy a house?
What do frigid temperatures, snow, and grey skies all have in common? They make you want to stay indoors. Many of us do not willingly choose to go out and bear these weather conditions if it isn’t absolutely necessary. Consequently, the real estate market tends to slow down in the winter months, with many of us choosing the warmth of our own homes over trekking around looking at potential properties. Although waiting until spring to purchase a home seems much more enticing, there are some great reasons why buying in the winter can be the best option for you… if you’re willing to brave the cold! Here, we talk about some reasons you should buy a house this winter.
Reason #1: Goodbye, competition
Do you ever fear finding your dream home but then being out-bid by a competitor? If the thought of this competition keeps you up at night, then buying in the winter may be right for you. A slower winter real estate market means that fewer buyers are looking for homes, and therefore fewer bids are placed upon the homes up for sale. This is great news for buyers seeking to avoid competition, as it is more likely that the offer you place on a home will be accepted. It also allows you to get a jump on the spring market in case your search takes longer than originally planned. Starting your home search in the winter allows you to build knowledge about the market and helps you be more prepared should your search last until the spring temperatures start to rise.
Reason #2: It’s a buyer’s market
Selling a home in the winter months is not ideal. Making sure your home is presentation-ready with all the snow and slush removed from the floors is tiresome and painful. That’s why anyone selling in the winter is often doing so out of necessity. Whether they’re being relocated for work or in need of a change, winter sellers want to get the process over with as quickly as possible. Luckily for buyers, this is excellent news! Sellers’ desire to make the process as quick and easy as possible will benefit you with expedited negotiations, lower prices, and more accommodating moving terms. It might be a good opportunity to buy a house in the winter months!
Reason #3: Love the home at its worst
Everything looks better drenched in sunlight. When you’re browsing through homes in the spring and summer you have the benefit of a scenic backdrop and perfect conditions for the home to operate. Frozen pipes, poor insulation, and leaky roofs are masked by the warm weather, and you get to experience the home at its best. Although this is great for pleasurable viewing experiences, you’re going to want to know exactly what you are getting yourself into when you purchase a home. Fortunately, pesky issues like frozen pipes can’t be well-hidden in the winter. By sacrificing the scenic, warm backdrop, you’ll get to experience the home as it truly is in the difficult winter months. And if you can’t love the home at its worst, then it’s probably not the home for you.
Reason #4: VIP treatment
As the weather and the real estate market cool, real estate agents’ calendars become more and more open. This is great for anyone looking to buy in the slow winter months, as it means your real estate agent will have more time to focus on you and deliver the best possible experience throughout the home-buying process. The same thing applies to mortgage brokers. During the winter, business typically slows down for all professions linked to residential real estate. Therefore, you’ll likely have more time to speak with your realtor and mortgage broker throughout the home buying process.
Trust me, I get it – buying a home in the winter isn’t traditional and isn’t for everyone. Bundling up in the cold Barrie winter and going from open house to open house might not be everyone’s cup of tea. But there are certainly some advantages to buying a home in the winter, and it’s always great to get a jump on the spring market.
Are you thinking of buying a home this winter? I’d love to help! Feel free to call me anytime or contact me here to book your free consultation.