Buying a home is one of the biggest decisions you will make in your life, so you want to make the correct choice. The goal of every potential buyer is to find their dream home at an affordable price. While this is not always possible, it is much easier to achieve in the winter. These are the four best reasons to buy a new home in the winter.
Fewer Buyers in the Market
Roughly 40 percent of home sales occur in the summer months, which means there are less buyers on the market in the winter. This lack of competition means that you will not have to fight with another buyer when you find the perfect house. You will also have an easier chance to build a relationship with the sellers and realtors, which will only increase your chances of landing the home.
House Will Be Cheaper
The law of supply and demand controls prices of every product. Since there are less people interested in buying houses in the winter, the prices will naturally go down. House prices can drop more than 12 percent in winter. This means you are essentially able to buy the same house for a lot less money when shopping in the cold weather.
Sellers are Motivated to Sell
Home sellers in the winter are simply more motivated to sell their home than any other time of the year. There is a reason they are selling the house in a poor market when they could get a lot more money by waiting a few months. There are several reasons why sellers are more motivated including tax benefits, a new job offer or financial issues. Use this increased motivation to your advantage to get the best deal possible.
Check Home in Bad Weather
The bad weather of the winter puts a lot of stress on a house. Snow puts pressure on the roof, pipes can freeze and cold air can slip through poor insulation. These potential problems are why winter is the perfect time to go house shopping. You do not want to spend a lot of money on a home only to find out about a ton of issues a few months later. An energy audit and complete inspection will be able to find any serious issues before you agree to purchase the house.
Going outside in the cold weather to look at houses may not seem like fun, but it will pay off in the long run. If you ignore the cold temperatures, then every other aspect of the home buying experience is improved in the winter. The goal is to best deal possible, and that is exactly what you will be able to achieve in the winter.