Why Buying a House in the Winter Can Be a Good Idea
When you think of house hunting and moving you would typically think of the spring and summer months. You wouldn’t be wrong because obviously home shopping would be more enjoyable when the weather is nice. Sellers also know that their property will look nicer and more appealing in the summer when the grass is green. Even if warmer weather brings with it creature comforts, there are some very good reasons that make buying a house in Brantford during the winter a great time to house shop.
Buying and selling real estate doesn’t stop just because the weather gets cold. Even though it would be nice to choose when to buy, sell or move into a house, circumstances can often have houses for sale in Brantford during every season. It doesn’t matter if you’re a buyer or a seller, there are compelling reasons to make things happen in the winter.
Less competition for homes
This one is probably the most logical reason that buying a house in the winter might be beneficial. Because most people would rather make big changes in spring or summer, it means that there will be less buyer competition looking at the same properties you are. On the flip side, sellers might find themselves as one of a few homes on the market and get the attention of a larger percentage of buyers. In real estate, any edge you can get is one you take, so don’t put off at least researching the market when it’s cold out.
Buyers can enjoy lower prices
Sometimes the winter brings a lack of buyers to a market causing demand to drop. With lower demand come lower prices. This can be a great boon for buyers looking to get in early and get a deal. Of course, this all depends greatly on timing because less buyers doesn’t guarantee lower prices.
Low activity when it’s cold pushes sellers and realtors into action. They may be more willing to negotiate on things like price, closing date and costs or bonuses like appliances. The winter is typically a buyer’s market. Sellers who choose to sell during the winter may also be looking for a quick sale. Otherwise why not wait and have the most eyes on your home. It could be something like a job offer, a divorce or financial issues that can force sellers into action. A motivate seller is a good friend of buyers because they may be quicker to sell.
Real estate agents are hungry
When the market slows realtors are left with more time on their hands and hungry for business. You may see extra attention and effort on their part when negotiating for a close. You should trust your realtor to be working hard for you no matter what time of year but having the time to go the extra mile can be a nice benefit to you.
Less chance of a bidding war
At The Munir Group we know that winter can be a slower time of year. For our home buyers this means that competition for homes can be subdued. A trend we’ve seen all over the country is bidding wars on hot item homes in great neighbourhoods. One home and many willing buyers ends up with the selling price climbing substantially. Buying in the winter can be much easier, with fewer bids and a more predictable sale.
So as winter descends, grab your coat and start hunting for a great bargain on your dream home. What would make a better Christmas present than a new home?