Winter House Hunting Can Pay Off.
Everyone knows the prime house-hunting seasons are spring
and summer, when the grass is green, tree foliage is full and flowers are in
full bloom. But that doesn’t mean you can’t land a hot deal during the winter.
Here are a few reasons why shopping for a home in the winter might be a smart
decision.
Less competition. While cooler temperatures in
many areas may keep many people inside, if you decide to take the plunge, you
won’t have to compete with as many buyers. That means less pressure to make a
quick decision to avoid losing out on the home of your choice, and more time to
check out additional properties, consider all of your options and negotiate
with sellers.
Sellers are more motivated. Many people who put
their home on the market during the colder months are anxious to sell it as
fast as possible. Perhaps they’re relocating for a new job or need money for a
down payment on another property. With fewer would-be buyers, sellers get less
attention and fewer offers, making them more motivated to reduce the price and
close the deal.
Quicker closing. Real estate agents, mortgage
lenders and title companies have fewer clients in the winter, which can result
in a swifter closing. And remember, you can always help speed up your
home-buying process by knowing how much you can afford, getting pre-approved
for a loan and having a good down payment ready.
Gain more insights. Viewing homes on cool, gray
days puts properties in a different light – picture bare trees and no flowers –
so if you love a property, imagine how wonderful it will look when colors are
popping in the spring and summer. And unlike a sunny 75-degree day, you’ll be
able to tell if a house is drafty, a sure sign of poor insulation.
Francis
