Wintertime is the most wonderful time of the year, especially for those looking to buy properties. While going around in chilly weather and going up and down icy walkways to look at houses may not seem fun, the pros of winter house shopping far outweigh the cons. Buying a home is probably the biggest investment you will make in your life, so the decision better is worth it. Of course, you must ensure all your papers are in order and documents are readily available as you talk to your local mortgage company in Salt Lake City, Denver, or wherever. You must also identify what you’re looking for in a home to not regret your decision.
6 Reasons to Buy a Property in Winter
1. There’s less competition.
While wintertime brings a lower inventory, the upside is there’s also less competition to go against. Not many folks are crazy about (or crazy enough!) looking for a property to buy in close to freezing conditions. Real estate conventional wisdom tells people to go out and buy properties in the spring or summer. Since the demand during wintertime is low, you can make the most of this to strike deals with realtors. You can be more selective as you have more options to choose from since winter has already knocked out a huge competition chunk. This increases your success rate at buying a new home compared to shopping for one in the summer.
2. Sellers are motivated.
Most of the time, sellers who list their properties during winter are serious about selling them. They record their homes because they need to. Perhaps they have a job offer in the winter that requires them to move cross-country, or maybe they’re going through some personal issues at the time. Circumstances like these and many more motivate sellers to dispose of the property as soon as possible. They are more willing to cut a deal just to make the sale. Real estate agents know this trend, so they usually recommend waiting until spring to buy a home. Winter is not a good season for sellers and agents in general.
3. You can evaluate the house in its worst condition.
A house that looks perfect in spring or summer may look entirely different under winter’s stresses. Buying a home this season lets you see how drafty the windows are or how well the furnace works. You spot ice dams in the roof or see how much snow you need to shovel from the driveway. You also see what it looks like without all the green and covered in ice.
4. Movers are easier to get.
Since moving around wintertime is never a popular choice, there’s less competition in the market than hiring professional movers is concerned. Movers’ schedules aren’t as packed as in spring or summer. As the demand is low, they might even give you a good package.
5. Enjoy last-minute tax savings.
Buying a home in winter could get you some tax benefits in the form of potential deductions. This is your last chance to buy a home in the year and use it as a tax write-off for 2019. The premises will still depend on the local tax laws, so it is best to talk to tax experts to know your options.
6. Closing deals are faster and easier.
During the holidays, things generally slow down, even in the real estate industry. Since it’s mostly downtime for many companies, getting approved for loans and closing deals is much quicker than in spring or summer, where most mortgage brokers are backed up by weeks. So put on your winter coat, boots, and gloves and head on out the door to look for that perfect home for you. Happy hunting! While there are certain cons to buying a property in winter, the pros listed above are definitely worth considering.