Spring and summer are known as peak selling months, but winter is still a great time to purchase a home.
Read on to find out why.
LESS COMPETITION AMONG BUYERS
With the holidays in full swing, there are fewer buyers looking for homes. This reduced competition offers greater opportunity to those looking for homes during the winter months.
Sellers who have listed their home on the market during winter months tend to be more serious about selling. They could be relocating, or have encountered life changes that require the home to be sold during the off season. This translates into potential for a more successful real estate transaction.
LESS COMPETITION FOR MORTGAGES
Buyers may also reap the reward of shopping mortgages during the winter months. With less demand for mortgages, lenders are more inclined to negotiate terms. This may translate into greater purchasing power for buyers who are able to secure favorable terms.
APPRAISALS AND INSPECTIONS
A good part of the escrow process is obtaining necessary appraisals and inspections. During the winter months, the demand for these services are not nearly as high. Additionally, should contract work need to be done on the home seasonal contract work such as handymen, plumbers, electricians and general contractors tend to be easier to schedule.
Depending on where you are purchasing, winter may be the hardest season on a home. The cold, moisture and wind will test the ability of the home to insulate and protect. Such information can be extremely useful in your decision making and in negotiating a final price. Buying a home during the winter has definite advantages that may make the buying process easier and more productive.
If you already own a home and are thinking about selling, contact the Real Estate Professionals at Richardson Properties; to learn how we can help you sell your home quickly and for the best price during the winter season.