Are you ready to buy a home and tired of waiting for the spring season? Despite what you may have heard about winter not being the ideal time to buy due to the weather, the winter may be a fantastic time to buy a home. Experienced real estate consultant Rick Couvelier reviews four great reasons to buy a home in the winter:
Less Competition
There are fewer buyers in the winter months, which means less competition, fewer bidding wars and with the new stricter mortgage rules, prices are expected to be lower. Rick Couvelier explains that one reason why there are fewer buyers is because many have school-aged children and wait until the summer months to buy a home so they don’t have to put their children in a new school district in the middle of the year.
Sellers are Serious About Selling
Sellers who list their home in the winter tend to have a strong reason to sell, such as job relocation, financial hardships, or unexpected life changes. This can lead to a better bargain for you since sellers not only tend to be more realistic with their listing price, but are often more willing to negotiate a deal to sell their home quicker.
Lower Home Prices
Not only may home prices dip over the winter months, but by purchasing in the winter, you are positioning yourself to benefit from price increases in the upcoming spring and summer months. Home prices increase as demands increase. If you get a great deal on the purchase of your home in the winter, you’ll benefit when prices go up in the warm months.
Faster Processing
Since the winter months are slower, real estate agents have more time to dedicate to you and your home purchase. All the necessary transactions can be completed much faster. Legal and notary firms are less busy so you may get more and better attention. Lenders can also usually get you approved for a mortgage loan and process the necessary paperwork quicker.