The cold winter months are finally here but just because it’s cold outside, doesn’t mean you should stop searching for the perfect home. If anything, the wintertime is the perfect time to start looking for a home and even consider buying. Not only can you get some great deals on homes but you may find that the whole buying process is considerably easier. With that said, here are our “cool”est reasons to buy a home this winter.
Probably the most obvious reason to buy a home in the winter months is the prospect of considerably lower prices. Summertime is almost always the time most homes go on the market, and May is generally a target for many sellers to start listing. However, the winter months are slower for home sales meaning fewer shoppers, a slower moving inventory, and sellers may be willing to make a deal for less.
Along those lines, the winter selling season yields greater inventories than summer where homes tend to change hands far more quickly. This by no means there aren’t quality homes to be had for bargain prices. There is a greater likelihood that there will be more beautiful homes available and a little more time to shop than in the typical summer sales months.
Just as there is generally a greater inventory of homes on the market, there also tend to be fewer buyers competing for your dream home. This surplus bodes well for a savvy buyer looking to steal an otherwise prized home during the real estate off-season. Fewer buyers means that you’ll have a greater opportunity to make an offer and less competition while bidding for the home you want.
Selling in the wintertime is quite a challenge even for the most experienced seller or real estate agent and with an inventory surplus, you can bet that sellers are willing to make a deal if a buyer makes an offer. Knowing that, understand that you as the buyer have the bargaining power over a seller eager to offload a home during the down season. Leverage that position to get a good price, make concessions, or expedite a sale to benefit both you and the seller.
A seller’s personal circumstances may not only dictate but necessitate a quick sale at a discount to the listed price. While you certainly would never want to take advantage of someone in a personal pinch, a seller’s motivations and circumstances may actually behoove you as a buyer. Use your bargaining power mentioned above to get a discount on the home you want.
Warm Up With a Hot Mortgage Rate
Buying in the wintertime certainly comes with some serious upsides, but if you’re not experienced with buying a home in the winter months get in touch with Tidewater Mortgage.
At Tidewater, our loan officers have decades of experience helping buyers like yourself finance the home of their dreams no matter the market conditions nor the season. Apply online today and get pre-qualified in as little as 24 hours. From there, let Tidewater’s loan officers help you find the financing solution right for you!