When thinking about buying a new home, most people immediately think they should wait for the nice weather before they start looking. Spring is the busiest season in real estate and many buyers think that it’s in their better interest to wait for the market to heat up before heading out to view some homes. Although the warmer months do generally see more action in the real estate market, there are many great advantages to buying in the off season that could end up leading you to your dream house and saving you a lot of money in the process.
Motivated Sellers
Since the real estate market is busier in the warmer months, most sellers will wait until then to list their homes. Therefore, the houses that you usually find for sale in the winter months are often being sold by motivated sellers who cannot wait for the spring to sell. Perhaps the seller’s job has relocated or they have already bought a new home that is closing in the winter. Regardless of the reason, more often than not the homes for sale in the winter months are being sold by very motivated sellers, which means your agent can likely negotiate a much better price for you.
Save Time
As wonderful as a large selection can be, it is extremely tiring to go house hunting when there are literally hundreds of homes that fit your criteria. Since there are generally less homes for sale in the winter, there are also fewer homes that you need to look at, saving you both time and energy.
Less Competition
In the same way that there are fewer sellers in the winter, there are also much fewer buyers. This translates to less competition for homes. You are less likely to get into a multiple offer or bidding war situation in the wintertime and sellers are also more likely to accommodate buyers. Since there are less buyers competing with you and sellers are more motivated, chances are you are going to get a better price.
Full-Time Vs. Part-Time Agents
Another perk to buying in the winter is that the agents that are working in the winter months are often full-time agents who are dedicated to working hard year round, regardless of the season. The 80/20 rule applies here: 20% of Real Estate agents are doing 80% of the business in their field. The reality is that the majority of agents you typically find working through the slower months are full-time agents, those responsible for closing 80% of real estate transactions annually; whereas, agents who are part-time often cannot sustain themselves during the winter months with Real Estate alone.
Winter Durability - Is the Home Winter Ready?
Viewing and buying homes in the winter allows you to see first-hand how well the home functions in the colder months. All of the major systems in a home are put to the test in the winter - plumbing, heating, roof, gutters - so it is a great time to make sure everything is working well. Your home inspector will be able to check how well the furnace heats the home; whether it is heating the home evenly. Also, he or she will be able to determine if the windows are letting in drafts. Checking out the way a home functions in the winter could save you a lot of money if you are able to spot serious issues prior to purchase.
Shopping around for a home in the winter may not be popular, but it will save you money and time. In the winter you can monopolize on the fact that the sellers are probably very motivated. In addition, fewer buyers also means less competition and more accommodating sellers. So chances are, if you are buying in the off season you are likely to get a much better price for your new home than you would in a busier market. Buying a home in the winter can translate to saving you both time and money. So don’t wait around for the warm weather and competition to come out. Put on your jacket, get out there, and get yourself a great deal!!!
Motivated Sellers
Since the real estate market is busier in the warmer months, most sellers will wait until then to list their homes. Therefore, the houses that you usually find for sale in the winter months are often being sold by motivated sellers who cannot wait for the spring to sell. Perhaps the seller’s job has relocated or they have already bought a new home that is closing in the winter. Regardless of the reason, more often than not the homes for sale in the winter months are being sold by very motivated sellers, which means your agent can likely negotiate a much better price for you.
Save Time
As wonderful as a large selection can be, it is extremely tiring to go house hunting when there are literally hundreds of homes that fit your criteria. Since there are generally less homes for sale in the winter, there are also fewer homes that you need to look at, saving you both time and energy.
Less Competition
In the same way that there are fewer sellers in the winter, there are also much fewer buyers. This translates to less competition for homes. You are less likely to get into a multiple offer or bidding war situation in the wintertime and sellers are also more likely to accommodate buyers. Since there are less buyers competing with you and sellers are more motivated, chances are you are going to get a better price.
Full-Time Vs. Part-Time Agents
Another perk to buying in the winter is that the agents that are working in the winter months are often full-time agents who are dedicated to working hard year round, regardless of the season. The 80/20 rule applies here: 20% of Real Estate agents are doing 80% of the business in their field. The reality is that the majority of agents you typically find working through the slower months are full-time agents, those responsible for closing 80% of real estate transactions annually; whereas, agents who are part-time often cannot sustain themselves during the winter months with Real Estate alone.
Winter Durability - Is the Home Winter Ready?
Viewing and buying homes in the winter allows you to see first-hand how well the home functions in the colder months. All of the major systems in a home are put to the test in the winter - plumbing, heating, roof, gutters - so it is a great time to make sure everything is working well. Your home inspector will be able to check how well the furnace heats the home; whether it is heating the home evenly. Also, he or she will be able to determine if the windows are letting in drafts. Checking out the way a home functions in the winter could save you a lot of money if you are able to spot serious issues prior to purchase.
Shopping around for a home in the winter may not be popular, but it will save you money and time. In the winter you can monopolize on the fact that the sellers are probably very motivated. In addition, fewer buyers also means less competition and more accommodating sellers. So chances are, if you are buying in the off season you are likely to get a much better price for your new home than you would in a busier market. Buying a home in the winter can translate to saving you both time and money. So don’t wait around for the warm weather and competition to come out. Put on your jacket, get out there, and get yourself a great deal!!!
