Pros and Cons of Buying a Home in Winter
While many people consider the winter months the perfect time to get a great price on a home, there are several things to consider before deciding to purchase.
There is no doubt that you will probably get your new home for a lower price in winter, but you may also find that there are less homes on the market which can make things more difficult if you have a certain criteria for your new home.
In this post, we will discuss these and other pros and cons that go into purchasing a home in winter to help you make a decision that is best for you.
Pro: Homes are typically cheaper
The winter months are ideal for purchasing a home as prices are typically at their lowest. This is usually thanks in part to demand, as many people usually do not want to go out and view houses when the weather is bad.
The good news for those who don’t mind the colder weather is that they will typically be one of only a few people making an offer on a house. This gives the buyer the bargaining power and the potential to get the home at a reduced rate if the seller is looking to move quickly.
Con: There are less options
A con of purchasing in the wintertime is that there are fewer homes on the market. While the prices of homes may be less, there may not be that home that truly speaks to you or one you consider your “dream home”.
If there are certain things that you must have for your new home, it may be hard to find something that fits your criteria to a tee.
Pro: You can often negotiate
As mentioned above, it is very possible to be one of a few people that are interested in the home and you may even be the only person making an offer.
When this is the case, it will give you the opportunity to negotiate price, closing costs and commissions. Many sellers may even be willing to leave appliances and other home décor behind to get a deal done.
Con: Weather can be a challenge
When it comes to buying in this time of year, the weather can play a factor. Even if you live in an area where the weather is milder in the winter months, it can be tougher to inspect the home, move in your things or even get a gauge for what the inside of the home will look like with natural light.
Pro: The closing process is easier
The final pro of buying during the colder months of the year is that the closing process will go much more smoothly. Lenders have fewer applications during this time and real estate professionals and inspectors are often available much more quickly.
While you can certainly buy a home at any time of year, this has hopefully aided in your decision to purchase a home during the winter.
With years of experience assisting with the buying and selling of homes in June Lake, Mammoth Lakes, Lee Vining, Bridgeport, Twin Lakes, Crowley Lake and the Eastern Sierra, we have helped a large number of clients purchase homes during the winter months.
To learn more about how we can assist in your home buying journey, we ask that you give us a call at (760) 648-7304.