4 Surprising Benefits Of House Hunting in the Winter
Though the weather outside is frightful, the house-hunting deals may be delightful. Since houses tend to go on the market during the spring and summer, house hunting in the winter is a good strategy for finding low prices on a new home. In fact, many real estate agents will tell you that January and December are the best months to find unexpected deals on houses for sale.
Don't wait until the spring thaw to get your house-shopping groove in gear. Here are four surprising benefits of hitting up the housing market in mid-winter:
1. Less Buying Competition
During the winter months, fewer shoppers are looking for houses for sale. Most deals get wrapped up earlier in autumn, and others tend put off shopping again until after the new year. Your chances of viewing houses for sale without other pesky visitors is better during the winter. And, if you make an offer on a home for sale, your offer is less likely to be overshadowed by another.
2. A More Realistic View of the House
Houses look less pretty in the winter, especially if there's no fluffy snow on the ground. Though this might make house shopping a little less magical, ugliness can actually work in a buyer's favor. Without the help of attractive gardens and bright natural lighting, you'll be better able to notice problems with the property. Additionally, an indoor visit during the winter might give you clues to a home's insulation quality and draftiness. If you love a home at its winter ugliest, chances are, you'll love it even more in the spring.
3. Potentially Lower Prices
Simple supply and demand regulate housing prices, and in the winter, this correlation may work in a buyer's favor. As the number of buyers in the market decreases, the demand also decreases, meaning that supply exceeds demand. The result? House prices drop as sellers hope to woo the few buyers still in the game. Sellers likely receive fewer offers in the winter, which may make them more willing to negotiate. If you're hoping for a little price wiggle room, mid-winter house hunting might be the perfect strategy.
4. More Motivated Sellers
Sellers know that winter may not be an ideal time for them to sell their property at a higher price point. If someone lists a property in the winter, they could have time-sensitive motivations for trying to sell a home in the off-season. For example, a job offer may be prompting the family to relocate quickly. Whatever the reason, a seller who is looking to make a swift deal might accept a lower offer, saving you both time and money.
Approximately 63% of home buyers will drop by a home they viewed online, according to the National Association of Realtors. Close that laptop, bundle up, and start touring houses for sale this winter. Your cold-weather efforts will be rewarded with fewer crowds, a clearer picture of the property, and potentially a great price.
For the right person, wintertime house hunting can be a great way to beat the crowds and find that perfect home. However, shopping near the end of the year can also prove challenging. Use these tips to help decide which shopping experience is best for you.
Looking for more real estate tips and guides? Contact Jackson Realty today!