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Seasons come and go, as do houses on the market! Curb appeal, less competition and serious buyers are just some of the many benefits to listing your home in the winter. Surprisingly enough, the winter months may also be the most wonderful time of the year…to buy a home. In fact, there are many benefits to buying a home in the off-season. Now that we have entered subzero temperatures, here are five reasons why you should brave the cold this season and join the hunt for your dream home!
1. Motivated seller
What type of seller lists their home in the winter? A motivated one! Sellers who list in the winter either likely didn’t have much luck in the peak real estate season or are eager to sell. This means the seller might be more willing to negotiate on selling price, closing costs, closing date or even terms of the sale in the slow winter months. Work with a REALTOR® to determine a negotiation strategy to ensure you aren’t making unreasonable demands and are coming in with a fair offer.
2. Less competition
In the same way there are fewer sellers in the winter, there are also generally fewer buyers. Worried about a crowd full of competition at your dream home’s open house? Lower market activity means you are less likely to fall into a bidding war with other buyers. Between holiday planning, vacationing and a natural urge to hibernate, fewer people are inclined to look for a house in the winter season.
3. Reality check
In the winter months, chances are impeccable landscaping and well-manicured shrubs are replaced with blankets of snow and icicles hanging from the gutters. Without obvious elements of curb appeal, the buyer will get to see the house for what it truly is and will be less likely to overlook key functional elements.
4. Winter durability
Buying a home in the winter lets you see first-hand how the home functions in the colder months. Are the windows and doors draft-proof? Is heating evenly distributed throughout the house? These are important factors that are more difficult to evaluate in the spring and summer. All major systems including plumbing, heating, roof and gutters are put to the test.
5. Hiring movers is easier
While it may not be easier to move all of your possessions in inclement weather, hiring movers is. Moving in the winter months when there are less people buying means there are fewer moving households that you need to compete with, simplifying the logistics of your moving day.
The weather outside might be frightful, but searching for a home in winter can be delightful! While it is true the market slows down in the winter, there are still many benefits to buying a home in the off-season.
Realtor.ca is very informative.