While most people would agree that as far as weather goes it’s much more pleasant to shop for homes in the spring in summer, there may be some really great reasons to buy or sell in the winter that would outweigh the weather. Many home sellers wait until spring to put their house on the market. What they may not realize is that by doing this they are then entering a very competitive and saturated market. If a buyer is searching for a house during the winter that means they are undoubtedly a serious buyer and by having less competition you have a better chance to sell your home more quickly. Another benefit to selling your home when it’s cold outside is that home showings and open houses are much more inviting and tend to do better. Simply have a fire roaring in the fire place, Christmas cookies on the counter, and some tasteful but festive decor and potential buyers will want to make that their home for Christmas. Last but not least during the winter and holiday season many people have time off of work, this allows for those people to finally take the time to go house hunting. You don’t want to miss out on these potential buyers simply because of the weather.
As a buyer there are also a great deal of perks to buying in the winter months. As I mentioned earlier while there is less competition for other sellers the same can be said for buyers. The chance of a bidding war for your dream home drastically decreases during the winter. Since there is less competition it is quite possible to have more negotiating power and get a better deal on your new home. Another benefit to buying in the winter is the availability and flexibility of industry professionals. Since it is considered to be the “down time” in the real estate industry many lenders will be more willing to work with you, even waiving or reducing fees in some cases to obtain your business. The same can be said for movers who are in need of clientele. Another potential financial motivation for buying before the new year is the possibility of receiving a tax write off. By purchasing before the end of the year you may be eligible for tax credits, deductions for home mortgage interest, real estate taxes, and PMI premiums.
So before you write off the idea of buying or selling this winter consider the benefits that you may be overlooking. If you have any questions or want further information don’t hesitate to contact me! I look forward to helping you find your home for the holidays.