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6 Reasons Why Winter Is Actually the Most Chill Time to Buy a Home

6 Reasons Why Winter Is Actually the Most Chill Time to Buy a Home

| Dec 14, 2018

When the weather outside is frightful, trudging door to door to look at houses might seem like a fool’s errand. Everybody knows spring and summer are the home-buying seasons, and winter is the time when you—and sellers—cool it for a bit and take a break, right?

While it’s true that things do slow down in the winter, that’s not necessarily a bad thing. Yes, it’s cold. Yes, fewer homes are for sale. Yes, moving in a snowstorm is a pain no one should experience. But there are quite a few darned smart reasons to buy a home in the winter. In fact, we’d argue that this might even be the best time to buy a home—if you can. Here’s why.

1. There’s less competition

Not everyone’s willing to look at homes in single-digit temperatures. The months of May, June, July, and August make up 40% of existing-home sales, while January and February account for less than 6%.

2. Sellers are motivated—and willing to make a deal

Most likely, sellers listing their home in the depths of winter seriously want to sell. That gives buyers the upper hand.

3. You can put the house through its paces

In most climates, winter puts stress on the home. That gives you the perfect opportunity to evaluate the property under the worst conditions possible. A home that might seem perfect during the temperate spring could look wholly different in the winter.

4. Hiring movers is usually easier

No one can claim that it’s easier to move in the winter. If you’ve ever done it, you know it’s sheer misery to move all of your possessions in inclement weather. But the logistics are simplified when you aren’t competing with a hundred other moving households.

5. You can enjoy last-minute tax savings

If you’re purchasing your first home, buying in the winter gives you a few extra months of potential tax deductions.

6. Homes close faster

In the busy spring and summer months, your mortgage broker might be backed up days or even weeks—which is beyond frustrating when your closing is planned around your lender’s schedule. But during the holidays, DiBugnara says, things slow down by 25% to 30%.

Original Article

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