Is Winter a Good Time to Buy a Home?
Are you in the hunt for a new home? Here are a few helpful tips and market observations for winter home buyers!
Typically, there are less buyers “in the pool” during the winter which puts you in a better position to snag your dream home with less pressure and potentially fewer bidding wars.
Think of it this way: It’s kind of like shopping on Black Friday, except there are only a couple of other people in the store! You may get first dibs on the home you’ve been dreaming about!
Not we get back to the whole concept of supply/demand. In many markets, a home that you purchase in the winter months may cost up to 6% less than homes sold during the spring.
Winter buyers can potentially save thousands of dollars by dealing with the hassles of wintertime or holiday buying.
Mortgage Rate Fluctuations
Interest rates tend to fluctuate, of course, and there is never a guarantee that our current rates will continues into the new year. If you can secure a great rate now, it makes buying during the winter make a whole lot of sense!
Tips for Buying in the Winter
Stay on budget. Regardless of the season, it’s tempting to push the limits in a house purchase. Purchasing a home that you can afford leads to much more enjoyment down the road.
Don’t be afraid to negotiate. Sellers may be more flexible in the winter months. Did you find a repair during your home inspection? Don’t be afraid to ask for what you need. Remember, with less competition Sellers may be more open to negotiations.
Prepare for tax changes. Be sure to check with a tax professional to be sure that you are getting all the perks of homeownership as you file your taxes!
Best wishes on your winter home search! I’d be happy to assist you in the process. Don’t hesitate to reach out!