Buying A House During The Winter Season

Home buying tends to hit its peak in the spring and summer months. And with good reason: Warm weather is more inviting for open houses, home inspections and moving.

But what about the colder months? Is winter a good time to buy a house? Let’s take a look at some of the significant benefits you may find if you choose to go house hunting in winter.

Benefits Of Buying A Home In The Winter

Although the weather’s colder and some people choose to stay warm inside, it can actually be better to explore and consider winter real estate. In fact, there are many reasons as to why house hunting in the off-season can be smart. Let's explore how buying a house in the winter can get you the best bang for your buck.

Less Competition And Lower Prices

Less competition benefits both home sellers and home buyers. With fewer buyers to compete with, you’re less likely to enter a bidding war and more likely to have your offer accepted.

With more people staying inside when it’s cold and thinking about buying a home in the summer months, you’ll have an advantage. Not many people like to go house hunting in winter, so you’ll have the upper hand and beat out the competition – if there is any.

Just by choosing to buy in the winter, you can sometimes get a cheaper deal. Since there aren't as many buyers during the winter season, home prices tend to be lower, giving you more room to negotiate with the seller. You might even get a significantly lower price during the winter if you make an offer to buy a home with cash.

Motivated Sellers And Faster Closing Times

Companies tend to relocate employees in the first quarter. This surge leads to motivated buyers and sellers, allowing you to close more quickly. This is a great time to negotiate things like closing costs and what household appliances will be included in the sale.

When it’s time to close on the house, you’ll likely see a speedier process compared to a closing in the summer months. Mortgage brokers tend to be less busy in the winter, so your wait time will be much shorter. In theory, you’ll be able to move into your new home as quickly as possible.

Enthusiastic Real Estate Agents And Flexible Movers

Real estate agents are busy people, especially when it starts to get warmer. During the off-season, your agent won’t be as busy as they’d be in the spring or summer, which means you may get more attention. Your agent will be just as eager to complete the sale as you are.

That being said, don’t just buy any house your real estate agent is showing you so they can make a sale. You should be sure they’re taking you around to the best homes that fit your needs. Agents are likely more flexible during the winter season, and they may have more time to accommodate you in this way.

When all is said and done and it’s time to move into your new home, consider hiring professional movers instead of doing all the moving yourself to save a few bucks. Naturally, the winter months aren’t as busy for movers, either. They may have extra time in their schedule and you might even get their service at a better rate.

Winter Home Buying At-A-Glance

Let’s take a closer look at the pros and cons and if buying a house in the winter months is right for you.

Pros

• Real estate transactions may move more quickly in the winter resulting in a faster closing date.
• Fewer buyers entering the winter housing market means you have less competition and more negotiating power.
• You can gauge the temperature efficiency and check for drafts, insulation problems or heating system issues.
• For certain buyers, it’s important to envision celebrating the holiday season in their home. Visiting a house that has been staged with seasonal decor may help you feel a deeper emotional connection to the space.

Cons

• Since there are fewer homes for sale in the off-season, there aren’t as many options to choose from.
• Home inspectors may have limitations, especially in rural areas if the ground is frozen or covered in snow.
• Snow can cover up certain issues such as landscaping conditions, uneven driveways or exterior damage.
• Since the days are shorter during the winter, you may see more houses in the evening or be able to visit fewer homes in one day.
• Snow, ice and cold temperatures may present travel challenges and make the moving process complicated.
• It can be difficult to move children during the school year.

Winter Home Buying Tips

Though there are many perks when it comes to buying a house during the winter or off-season, you’ll still want to keep a few things in mind when deciding if this is the right season to buy.

Keep Your Receipts Handy

You should always ask for maintenance receipts or proof of completed renovations or repairs. Cold weather can make it difficult or even impossible to complete certain outside inspections. Some inspections may be delayed due to weather reasons, which might make it harder to close on the house.

For example, you can’t complete a septic tank inspection if the ground is frozen. Always make sure you’re going to a trustworthy maintenance company for any work that needs to be done, including inspections.

Delayed House Closing

Inclement weather can delay inspections and appraisals, which may lengthen the closing process. However, with the undivided attention of your real estate agent, you may get lucky and close quickly.

This is why it’s important to work with a real estate professional during the home buying process. As previously mentioned, the real estate agent or REALTOR^® should have more of a flexible schedule during the winter, so everything should move fairly quickly (weather permitting).

Don’t Make An Offer Too Low

The assumption that sellers in winter months are desperate is often incorrect. If you lowball your offer, you may risk offending the seller to the point where they might not want to counteroffer.

Even though you might get a better deal during the winter season due to less competition, that doesn’t mean you should diminish the seller and their asking price. Be realistic and reasonable when making your offer, but also try to get the best deal possible without stepping on any toes.

The Bottom Line: The Off-Season May Be The Best Season

Buying during the winter season can mean many different things depending on where you’re located. In the end, the decision to buy a house should be based on your own personal readiness, your finances and long-term goals.

Whenever you’re ready, find a trustworthy and reliable real estate agent who can lead you in the right direction on when the best time to buy is. Get connected with an expert real estate agent and start the journey to your dream home.