Real Estate Investment 101: Getting Started

3 Tips For Buying A Home In The Winter

If you want to buy a home in the winter time, you are picking the perfect time to look for a home. Winter time is a great time to look for a new home for a variety of reasons.

Less Inventory

When you look for a home in the winter time, there is generally a lower inventory of houses for sale on the market. That is not a bad thing at all though. When there is less inventory, the inventory on the market is generally better. There are generally less buyers looking for a house as well, so there is less competition for the same inventory that is on the market as well. You are more likely to see high quality homes on the market that less buyers are competing for on the market during the wintertime.

Lower Prices

Another advantage of looking for a home in the winter time is that you can find a home for a lower price. Many sellers who have their home for sale in the winter time are very motivated sellers, which can bring down the house prices.

Having less inventory on the market also brings down the prices of houses. When there are less buyers on the market, and demand is down, that brings down the price of homes as well.

Motivated Sellers

Winter is well known as not the best time of the year to sell a home, and most buyers know this. Buyers who are selling their home in the winter are really motivated to sell their home. They are generally willing to either drop the price, pay closing costs or negotiate on other parts of the deal. Motivated sellers can help you get a better deal on a house. You may not be able to bring down the sticker price of the home, but you may be able to get your closing costs covered and you may be able to get other perks too, like appliances included in the price of the sale.

The seller may want to move or need to move, or may have bought another home and need to get rid of their own. Understanding the motivation of the seller can help you get a better deal on a home.

Less Offers

Finally, in the winter time, you are less likely to have to compete against other sellers. When you put in an offer, there is a good chance that the owners of the home may only be looking at your offer or may only be looking at one or two other offers. You will not have to compete against so many offers, which will make your offer stand out.