Many buyers prefer to shop in spring or fall, but there are advantages to looking for a home in winter. Here’s my top 5:
1. Fewer buyers are looking so there is less competition.
2. Savvy sellers are aware that fewer buyers are out shopping, so list prices are often lower. Some homes that need cosmetic updates may have remained on the market over the holidays, and those sellers may be willing to accept a lower offer, which gives the buyer a good solid home and good deal.
3. Some things are more noticeable in the winter, such as cold spots in a house or drafty windows. It’s also easier to tell which attics are well insulated, just by looking at the snow on the roof. You’ll also have a better idea of winter parking and where to pile the snow.
4. When there is less competition for the home of your dreams, multiple offer situations, which can be intimidating, are less likely.
5. Buy in winter, move in spring. Remember, your moving date is likely a couple of months after your offer is accepted. Which means if you want to move in May, you need an offer accepted in March and you likely should start looking at properties in January or February, so you and you Realtor can find you the right home.