I get it. It’s cold outside. The roads are icy. All you want to do is stay in your nice, warm, cozy home and wait until summer to look for a new house/sell your current home. BUT there are many perks that coincide with both buying and selling a home in the winter months. Here is a look at just a few of them:
Buying In Winter
Less Competition – While you are braving the cold and icy weather, many people have opted to stay in the comfort of their home. This means that there are less people looking for houses, which means less competition. This does not mean that you will avoid a bidding war altogether, but there might be fewer bids to compete against.
House’s True Integrity – Winter is the best time to discover the strength of a house. Are the gutters clogged? Are the windows well insulated or is there a lot of condensation? Does the furnace work? Are there any drafts? These are questions that can’t get answered in the nice, summer months.
More Attention – Not only will you likely have less competition when it comes to bidding on a house, there is a good chance you will have less competition for your realtor’s attention. During the summer, many agents have many clients all looking at the same time. In the winter, an agent will likely have fewer clients and can therefore spend more time helping you find the perfect home.
Available Movers – Similar to having more of your agent’s time, a moving company will also be able pay more attention to you. This means that there is less chance of delays.
Selling In Winter
Serious Shoppers – You’re going to have less people that are “window shopping” because the people that are coming to see your house are there because they need to or really want to. Some people might need to relocate and therefore have a timeline to buy for. Some people are wanting to avoid the bidding wars of the warmer months. There many other reasons to motivate winter buyers, but winter buyers tend to be the most motivated.
House Might Sell Faster – Studies show that a higher percentage of winter-listed houses sell in less than 6 months compared to summer-listed houses. This isn’t a guarantee that you home will sell quickly, just that you have a higher chance or selling quickly. This is due to the fact that the buyers are serious, they are looking to buy now, not later.
Purchase Date vs. Closing Date – Just because you buy a house in the winter doesn’t mean you have to move in the winter. Talk to your agent about closing dates.
No Guarantees – There are always pros and cons to every season you buy or sell in. Remember to be patient and trust your agent.