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Has this year’s harsh winter weather made you put off your home shopping plans until the spring thaw? We don’t blame you for wanting to stay snug in your current home for now, but if you’re looking for a deal, the winter months may be your best chance to find one.
Wintertime Home Buying Is Cool
Most of us know the majority of home buying and selling happens in the spring and summer months. People don’t mind getting out and looking for new homes when the weather’s nice. Plus many families prefer to make that transition during the kids’ summer break.
As a result, many homeowners wait to put their homes on the market during these peak months. Homeowners who have their homes for sale during the winter, on the other hand, often have a deadline and don’t have time to wait until spring to sell. Maybe they’re relocating for a new job, or a new baby is on the way, and they need more space.
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This combination of fewer buyers and pressure to sell can create a short-term buyer’s market. True, you many have fewer homes to choose from, but that can make your decision easier to make.
Reduced competition also means less pressure on you, the buyer. During peak home-buying season, you may have to make an offer on a home immediately to keep other buyers from snatching it up. But that’s usually not the case at this time of year.
Another bonus: Increased availability of real estate professionals such as agents, inspectors, lenders and movers. Since these folks have fewer clients vying for their time and attention during the chilly months, your home purchase will likely move faster than in would during peak season.
Things Are Already Heating Up
According to real estate website Trulia.com, the housing market is in the deep freeze in December, but it begins to thaw starting in January. Even in Alaska, homebuyers start showing interest in new homes during the first of the year!
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By March, homebuyers across nation have already started shopping, so if you want to avoid the springtime rush, get started soon! Remember, you’re ready to buy a home when you’re debt-free, have a fully funded emergency fund, and have at least a 10% down payment (20% is better) for your new home.
Once all that is in place, there’s nothing holding you back!
Talk to a Real Estate Pro and Start Your Home Search Today
If you’ve decided now’s the time to get going on your new home search, talk first with your real estate agent. They can explain your local market’s cycles and help you find the best deals on homes in your price range.
Need to find an agent? We can put you in touch with an experienced professional in your area.