Pros and Cons of Buying A Home in the Winter Months

By
Real Estate Agent with Rita Boswell Group, eXp Realty 2011003086

 

Pros and Cons of Buying a Home in the Winter Months – Don’t let the cold weather stop you from considering buying a home this season. Just because you may find the weather to be less desirable, doesn’t mean the homes will be. In fact, the winter market is typically a great time to buy! Consider the following pros and cons of buying a home in the winter months.

  • Tax Deductions:
  • Pro: If you can manage to close out your house by the end of the year, you will find there is a good deal of items to deduct on your taxes, including interest costs and property taxes. These deductions add up quickly, which may benefit you in more ways than one.
  • More Moving Muscle:
  • Pro: Because winter months are slower business for moving companies, it may be easier to book some moving help on short notice.
  • Con: Winter months mean winter weather. Unexpected snowstorms or icy conditions can make moving a slow and delayed experience.
  • Less Market Competition:
  • Pro: There may be fewer houses on the market in the winter, but that also means there are fewer buyers. Because the market is slower, sellers are potentially more motivated to move the homes and willing to negotiate.
  • Con: Fewer houses on the market mean…fewer houses on the market. If you have a laundry list of “must-haves, ” winter house hunting may not give you all the options you desire.
  • Agent Availability:
  • Pros: Slower competition means more antsy agents, ready to sell! You can pick from the cream of the crop. Furthermore, real estate agents will be well suited to help you manage the winter buyer’s market.
  • Season Perspective:
  • Pro: When shopping for a home, it isn’t often you can see a home stand up to strong winds or cold conditions. Seeing a house in the winter season allows you to see what it’s made of.You can check for drafty windows, leaky roofs, and overall coziness.
  • Cons: While you may be able to asses the “bones” of the home, you won’t get the curb appeal that summer and spring bring. You will have to “imagine” a blossoming yard and trees with leaves. Additionally, snow coverage may “hide” less attractive or even problems with the yard and foundation.
  • Turn-Around Time:
  • Pro: Because fewer loans are being processed through banks and mortgage lending companies during winter months and more relators are more available, the total turn-around time for purchasing may be shorter than average.

If you are thinking about buying this winter, take some time with a real estate agent to consider the advantages and disadvantages of purchasing in the colder months. When it comes to buying, it always comes down to what is best for you and yours, despite the season. There are always pros and cons to every buying season.

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Posted by

Rita Boswell, Realtor

Rita Boswell Group, Keller Williams Capital Partners

100 E. Wilson Bridge Rd, Worthington, OH 43085

614-270-4499

rboswell@kw.com

www.SeeBeautifulHomes.com

Comments (1)

Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Good points, Rita.  In the past I have always tried to avoid winter moves, though there have been a few.

Oct 20, 2015 01:08 PM