When’s the best time to buy a house? Many people answer this question by saying spring or summer; and it’s true, the market does see its highest sales during this time.
However, if you’re in the market to buy a new home, waiting until the warmer months arrive to buy your next house could actually be a hindrance. Buying a house during the winter has several advantages for you and your family and we’ll explore a few of the greatest ones today to show you why now is the perfect time to buy your next home.
As we said above, the spring and summer months are peak for home sales. That also means they are the peak time for homebuyers to hunt the market. These additional buyers can dramatically impact the price you pay for your home.
The winter sees less competition in the marketplace and this means a smaller chance you’ll find yourself in a bidding war for your favorite home. In addition, in the absence of a bidding war, you have better leverage to negotiate the best price possible for you.
Taking your time
Reduced competition also expands your window to decide. In a market full of buyers, you may feel pressured to place an offer on a home quickly before someone else snatches it from under you. However, in a market with fewer buyers, you can approach this monumental decision much more thoughtfully. Buying a home is too important to be a spur-of-the-moment decision and you’ll appreciate the extra time.
Sellers sell their homes for many reasons but at least a few of them — such as a job transfer — are time-related. This means a seller that has listed their home during the winter likely needs to sell it quickly and will be more willing to negotiate with you. These negotiations could extend beyond the final price to include closing date, closing costs and the associated terms of the sale. You may also be able to negotiate for the retention of key appliances or other perks if the seller is motivated enough.
Lower associated rates
Buying a house during the winter can save you money on more than just the housing price. Companies whose business relies on the housing industry — movers, carpet cleaners and interior painters, for example — may be more apt to offer you reduced rates to make a sale during what is otherwise a slower period for them. Shop around for the best solution for you and you’ll be excited by the results you find.
Enjoy your new home during the summer
There are so many things to love about summer: warm weather, barbecues, family vacations and, of course, the long-weekend holidays. No matter which is your favorite, all of these perks will be so much easier to enjoy when you’re already in your new home.
Purchase your home during the winter and you can spend your spring planning your trips and events and simply enjoying life in your new home. You may also be able to expand on your summer plans thanks to the money you saved purchasing your home during the winter, and that’s a gift that keeps on giving.