Buying a home in the winter months has advantages
- Less competition with other homebuyers
- More flexibility in negotiations regarding price & terms
- Touring a property is less than ideal conditions
- Better chance of seeing water-related issues
It takes a hardy homebuyer to bundle up and tour houses in the winter months! But if you are willing to make the trek, it could be worth the effort. While there are fewer homes for sale in the winter months, there are also fewer buyers.
Over the past few years, housing inventory has been on the decline while the number of homebuyers has been on the rise. This often results in multiple offers for a single property which means the buyers may feel the need to compromise in order to be the "winning" offer. In the winter months when there are fewer buyers competing for a property, there's a better chance the terms of the buyer's offer will be met.
It's more fun to visit houses when the sun is shining, birds are singing and your wearing shoes that are easy to take off and on when entering a property. When touring houses in winter, you're often pulling off snow boots every time you enter a property. But if you are willing to make this extra effort, you could end up finding your home without having to compete with other buyers.
And finally, winter months in the Greater Washington DC/Baltimore area are often wet or snowy. These conditions are just when you want to set up a house tour. If you are touring houses when it rains or snows, head to the basement first. Look at the walls and floors to see if there are any issues. Walk around the house and look for low areas near the foundation. Does the yard slope down toward the house? If so, this could mean water is moving toward the house and the foundation.