The Perks of Purchasing Real Estate in the WinterBy Angela Smith, Communications Manager
November 30, 2018
Even though we are heading into the winter, don’t let that stop you from looking for your dream property...
Even though we are heading into the winter, don’t let that stop you from looking for your dream property. Spring and summer may be the busiest time for home sales, but it doesn’t necessary mean it’s the better time. In fact, there are a lot of perks to purchasing in the winter. Here are some reasons it’s a good idea…
Motivated Sellers Those who decide to sell in the winter are more likely to be motivated. That means they are more willing to agree to faster closings, negotiate on closing costs and even negotiate on price. They might even throw in some extras, like leaving the appliances or other furniture. This is all good news to a buyer.
Less Competition. Because spring and summer are the busiest seasons of the year, you won’t be competing with a lot of other buyers out there. Nearly a quarter of homes sold in the summer were involved in a bidding war, which increases the price of the home. If you purchase in the winter, you are less likely to worry about that. Since the demand is lower, the prices are most likely to be lower as well.
Prices Aren’t Declining. Home prices have been climbing steadily in the past few years due to a strong economy. If you’re waiting around hoping for a price decline, it isn’t going to happen. Not anytime soon at least. Take advantage of the lower prices in winter and less competition. Prices and demand will only start to go up in early spring. Extra tip: in the winter, home-builders with completed projects might be trying to get rid of inventory to start on new projects. Take advantage.
These are just a few reasons why you shouldn’t be discouraged if you’re looking to purchase a property this winter. Take in consideration that every situation and circumstance is different, especially if you live in the south where it is warm year-round.
If you need some professional guidance, seek out an experienced real estate agent. They will be able to help you even before you get started. United Country Real Estate has more than 4,000 talented real estate and auction professionals coast-to-coast. See all of our available listings, or find an agent near you, at www.UnitedCountry.com.
Sources: http://blog.rismedia.com/2017/homebuying-2017-versus-2018/ https://www.thespruce.com/moving-and-buying-home-in-winter-2436018