Home buyers often ask us if buying in the winter is a good idea. The truth is, shopping for a home during the winter months is great for two reasons:
- There are fewer buyers to compete with for homes
- Sellers are more likely to take a lower offer, especially in early winter.
Advantages of Buying a Home During the Winter
Winter home sellers may need to sell during this time of year because of a new job offer or plans to move to another state. The fact that they are putting their homes on the market when most other people are getting ready for the holidays is good news for you. Most sellers who put their home on the market during the winter rather than in the busier spring market are more motivated and more likely to accept less.
- Less Competition from Other Buyers
Fewer buyers searching for homes means you won’t get outbid on the home you want. We often see multiple offer situations during the spring because of the surge of buyers entering the market, which can drive up the price of a home. With less competition this is less likely to happen.
Motivated sellers will often price their homes to sell during the winter. This is a great time to find houses that have had price adjustments or are value priced to sell faster. Just remember to have realistic expectations: you won’t see rock bottom prices on homes, but you will see some great deals on homes during this season.
Read more Why Buying a House in the Winter is a Smart Move