By: Jerika P – i-Lead Realty Social Media Manager
Buying a house is undoubtedly a big deal, so it is important to factor in all available considerations and make sure you make the right decision for your future. One important decision that people must make concerning the timing of their purchase is whether to do it in the winter. While it may not sound like the most appealing time of year to buy a house, several potential benefits make winter the best time to buy a home.
1. Home prices are lower
The first reason why winter may be a better time than other seasons to buy a house is simple economics. In many cases, home prices are lower during the winter months. This is for two main reasons. First, since most people aim to buy and move into their new homes during the summer, fewer people are actively searching for a house in the winter, leading to softer demand and thus lower prices. Second, sellers may be looking to offload their property before the end of the tax season, and may therefore price the property lower. This may work out to your financial advantage as a buyer.
2. You may get more attention and personalization from the seller
Since fewer people are actively searching for a house in the winter, sellers may be more ready to invest in potential buyers emotionally and want to engage in a conversation about their property. This could mean the seller is more inclined to make personal changes to the house and be open to negotiation.
3. You may be able to get cheaper interest on mortgage loan
Rates typically spike during the summer as banks will be more inclined to loan out money due to the fact that more people are actively searching for property. By buying during the winter, you may get a more favorable interest rate from a lender.
Still unsure about buying a home in the winter? Talk to one of our Real Estate Professionals. If you are searching for a Real Estate Professional or would like to learn more, you can contact us here.
Are we in a housing bubble? Here’s what some of the most successful realtors in the country say. Watch the video here