Winter is a notoriously slow season when it comes to buying and selling homes. Most buyers and sellers make their moves over summer when their kids have the summer off from school. While it may not be the busiest season, winter is definitely one of the best seasons to buy a home. Here are 5 reasons to buy a home this winter with Gavish Real Estate.
As we mentioned, the most active home-buying months occur during summer from May through August. This tends to be when most homeowners decide to make their move. Most people are reluctant to move while their kids are in the middle of the school year. Additionally, home-buyers are more likely to have some extra cash on hand from their tax returns. This means that homes will have more offers at any given time, which is bad news for you.
Luckily, when you buy your home during winter, you skip the frenzy of a market. Less competition when it comes to buying a home means that you can take your time when it comes to making an offer. Not only will you make an offer on the right house that you want, but you’ll also be able to make an offer at a price point that benefits you the most.
Another great reason to buy a home this winter has to do with sellers being more motivated. If a seller has their home listed on the market during winter, it’s because they are really looking to sell it. Maybe their move is prompted by work or other circumstances that don’t allow them to wait until a better season. A motivated seller that really wants to (or has to) sell their home will be more willing to negotiate closing costs. Whatever the reason is, it benefits you — the buyer.
Since the real estate market tends to slow down during winter, so do all of the industries that rely on it. When you buy a home during winter, you’re more likely to find better rates when it comes to finding a moving company. Fewer people moving means that there will be more moving crews available, which is great for consumers. Ask your moving company about any special pricing or fee waivers that are available to you. You may be surprised!
It’s easy to make a home look inviting during spring and summer when the weather is beautiful. When you see it in inclement weather though, you really see what the home looks like in poor conditions. When you do a walk-through a home during winter, you are more likely to see the home under harsh weather conditions, like rain or snow. This means that the home inspection will be more likely to reveal any signs of leaking or deferred maintenance. Having seen the home under these conditions will give you an idea of what to expect if you decide to buy the home.
Purchasing a home is a big financial decision, but it does come with a few benefits in the form of tax breaks. When you take out a mortgage, you can deduct up to a certain amount of mortgage interest. Buying a home during winter means that you will be getting these tax breaks just in time to include them before you file your taxes.