As we know, moving and real estate often go hand in hand, and though we'd like to dictate when we move and when we buy a house, very often other circumstances can emerge and force us to sell, buy and move any time of year.
Having to buy a house in the winter is not the worst thing that can happen. In fact, here are some advantages that show how you could benefit from house hunting in the winter.
Fewer Buyers to Compete With
The most obvious plus of buying and moving in winter is exactly because real estate wisdom says to shop spring and summer.
As a result of this popular piece of real estate advice, there will be fewer buyers in competition during the winter months…the low demand will work in your favor. So for the investor looking to find a good deal in the housing market, the winter can be prime time.
Prices are Lower
When you have fewer buyers in the market, supply exceeds demand. This usually results in prices being lower than during the hot or peak season.
Sellers are Motivated
All the low activity in the winter will result in sellers being far more motivated to sell. Real estate agents know that the slow winter months are when sellers are more willing to negotiate, whether it is on selling price, closing costs, closing date or even terms of the sale, including what household appliances and items are included in the sale.
Furthermore, there may be other circumstances at play with the seller which could work to a buyer’s advantage including a winter job offer/move or perhaps personal issues that are dictating his/her actions - financial issues, divorce, etc.
Fewer Chances That There Will Be Multiple Offers on the House You Want
Another reason that winter can result in a buyer's market is that the fewer number of buyers competing for homes means that the chances of there being multiple offers on a single property are greatly reduced.
So brave the cold, pull on a winter coat, and get house hunting!