Nov. 22, 2015
Sometimes your best laid plans are disrupted, or there is an unexpected relocation. Regardless of the reason, there will always be buyers and sellers in Winter. While Spring and Summer are the high season for home sales, Winter transactions have their advantages. If you don’t mind a smaller pool of homes for sale, or moving around the holidays, Winter can be a good time to house shop, or sell.
Less Competition, More Leverage
Since Spring and Summer are the most active real estate seasons, many home sellers wait until then to list their homes. That means there are fewer homes for sale in the winter, but the sellers often have strong reasons to sell their homes soon, such as job relocation. These motivated sellers can be a boon to the home buyer. From the Selling perspective, buyers coming to look at your home are also highly motivated, and you will likely see a greater percentage of serious and qualified buyers making appointments, and a far fewer neighbors and looky-loos!
With fewer homes to choose from, the smaller selection can save buyers and sellers a lot of time, yet allow buyers more time to consider their purchase decision. In Spring, buyers are often forced to decide on the spot whether to make an offer, whereas in Winter, less competition can take some of the pressure off of the buyer and allow them to possibly sleep on it.
Availability of Agents and Others Plus Assessing a Home’s Winter Fitness
Viewing homes in the winter lets you see how it holds up to the weather. Did you feel cold while looking through the house? Is there a functioning heating system and hot water? Are the windows letting in drafts?
Another advantage of buying a home in the off-season is the greater availability of industry professionals. Real estate agents will have fewer clients and more time to focus on your home search. Lenders will be more accessible for questions and assistance. Some lenders even waive fees during the off-season to encourage borrowers to use their services. (Our partner SWBC is offering free appraisals until the end of the year!!) Likewise, movers tend to lower their costs during the winter months.
So, if you find yourself looking to buy or sell in the Winter months, don’t despair! It can be a fruitful and pleasant experience for all parties.
La Luge by YH2 Architecture