Without question spring is the busiest season in real estate, and as such many buyers think that it’s in their best interest to wait for the spring thaw before heading out to view some homes. However, there are some advantages to consider when it comes to buying in the off season that could lead you to your dream home and save you money in the process.
Yes, there may be fewer sellers in the winter, but there are also fewer buyers. This means a decreased likelihood of competing offers for your ideal home, and the inclusion of necessary subjects that will allow you to take your time with inspections and financing.
Most sellers will wait to list their homes until spring, unless they are motivated to sell before spring rolls around. Often, homes for sale in winter months are being sold by motivated sellers which translates to your agent being able to negotiate a better price and better terms on your behalf.
When the market is saturated with homes, it can take a lot of time to view all homes that fit your specific criteria. In winter, fewer homes on the market does not translate to less quality homes, but it does allow you to narrow your focus to what matters most and save you some time.
WINTER HOME TEST
In the winter, you are more likely to see how a home really holds up to the stress of cold weather. All systems, such as plumbing, heating, roof, gutters and windows are put to the test. Being able to see a home ‘in action’ can help you make better buying decisions, and feel if everything is working well.