Winter really can be a great time to purchase a home!
Buying during the winter months may be a little stressful, but the payoff is more than worth it. The real estate market moves in cycles – up and down- both on a large scale but also in relation to the time of year. Because real estate is a “supply and demand” industry, good deals can be found when no one else is looking. Therefore, some of the best deals happen during the coldest months of the winter, especially around the holidays. Furthermore, if you are looking to buy a bank foreclosure, many banks are eager to get the loans off their books before the close of the year, so even better deals can be found because of their increased motivation to sell.
Shopping for homes in the winter months also gives you a different perspective on properties. Since most home tours take place during spring and summer, you rarely get a chance to take in the overall condition of a home and its surroundings in the fall or winter.
Are the streets sufficiently plowed? Does the home’s snazzy fireplace actually work? How about the heating system?
Yes, you’re working with less daylight in which to tour homes during the winter. But those hours may actually be more revealing than what you’d see on a warm summer day.
To be sure, there’s no guarantee that a November-February window will work for you. But this traditional home buying “off-season” can be an under-the-radar gateway to getting the best deal on your dream property.
So bundle up, brave the cold and consider kick-starting the home buying journey. Who knows what kind of opportunity awaits while everyone else is inside clutching a cup of hot cocoa?
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