For many home buyers, the most common time to shop is usually in the summer when the flowers are blooming and the kids are out of school. However, did you also know that this is the most difficult time of the year for new home buyers to find a home? Due to high demand, inventory levels are lower causing prices to jump and create bidding wars amongst would-be buyers. This is just one reason shopping in the winter can be a better choice. Here are 5 advantages to shopping for a home in the wintertime.
For many people looking to sell their home, oftentimes they will remove their homes from the market around the holidays because they don’t want to be bothered with keeping their home show-ready during the season. For others, the move may be a necessity if there is a job waiting for them in another city. For those who do keep their homes on the market, you can be assured that they are serious about selling their house and may be ready to negotiate.
Winter sees a big boost in the number of starter homes and trade-up homes on the market allowing for prices to find their natural balance. This could also decrease the chances for a bidding war which is much more common in the summer months. Sellers know that there is more inventory out there so you can be assured that housing prices have reached a good price point by this time. It also means that sellers have gone the extra mile to make their homes stand out. Look for the little touches that make a home pop like new paint and freshly cleaned carpets. Sellers will tend to pay more attention to the inside of the home during this time of year.
Consider Moving Costs
Many people move during the summer months when the kids are out of school but according to Allied Van Lines, the best time of the year to move is Spring or Fall. Prices are lower during these times because moving companies are quieter and the temperatures less extreme in many parts of the country. To help defray costs, even more, consider moving mid-month or even mid-week. Another suggestion is to think about moving around national holidays like President’s Day when there is less traffic on the road.
With less activity in the market space during the winter months, real estate agents have more time to devote to you. This translates into better service and possibly more attention from the agent. Remember if there are fewer clients during this time, agents are eager to make a sale for their benefit as well. The reality is they will push harder, spend the extra time with you to point out the pros and cons of a property, and be willing to go the extra mile with you to get the house you want.
Buyers Have More Cash on Hand
With the end of the year come year-end bonuses and payouts. These bonuses and payouts can be just what is needed to make the down payment you have been saving for. Before you spend it on holiday items, consider using it to fund your home purchase.
One of the biggest pros to home shopping during the holidays is seeing a home in all its glory during the holiday season. Many sellers work hard to make their homes warm and inviting with cookie scented candles and a warm feeling when you enter the house. Buyers don’t have to imagine what it would be like to spend family time together in their new home.