Most people don’t associate winter with being the best time to buy a house, but there are definite reasons why it’s a smart move!
TAX BREAKS. By buying your home before the end of the year, you could score a few additional tax deductions, and we all like tax deductions, right? Be sure to consult your tax professional on how you can turn this benefit into a bonus for you!
COMPETITION. Less than 6% of existing home sales happen in January and February, compared to 40% in the spring and summer months. Making your move in winter drastically decreases your competition and reduces the frustration of competing with the cash offers and “bidding wars” that come along with buying in the spring and summer.
MOTIVATED SELLERS. If a house is listed in winter, chances are the seller NEEDS TOSELL! Many companies promote and transfer employees at the beginning of the year and these transferee’s have high motivation to sell and tight timelines to relocate which could be a huge bonus for you as the buyer!
FASTER CLOSINGS. During the winter months, sales can usually close more quickly due to the lower number of buyers in the market compared to other times of the year. If getting a speedy loan approval and a convenient closing date is important to you, buying this winter is a great idea.
CONDITION. Weather conditions can expose things not as obvious at other times of the year such as drafty windows, poor insulation, cracks around doors and windows, how well the heating works!
MOVING COMPANIES. Since winter is usually a slower time for moving companies, it is generally easier to negotiate the price of your move, as well as pick your most convenient move date!