5 Reasons to Buy Real Estate During the Winter
While the real estate markets tend to pick up come spring and summer, winter can just as good of a time to invest in a new home. Quite a few compelling reasons will drive homebuyers to look during winter, even if your initial thoughts are driving you to buy between March and September.
Less competition. When you’re looking for a home during the winter, chances are you’re competing with fewer buyers. Fewer buyers means a more relaxed market which will give you the time to browse more thoughtfully without the threat of multiple offers rolling in quickly.
Lower prices. Generally speaking, prices will be lower in the winter than they were in the fall. With the end of the year comes plenty of price reductions in an attempt to sell before the holidays, so most homes on the market after New Year’s Day will still be at a more reasonable price point based on demand.
Motivated sellers. Low winter activity will only motivate sellers. Without multiple offers flooding in during an active market, they’ll likely be more open to negotiating whether it’s on closing costs, selling price or closing date.
Mild moving weather. It’s common knowledge that it’s easier to look, buy and move when the weather is milder, but a winter closing could still mean a spring move-in. Even if a winter move-in is inevitable, the Texas weather tends to leave out ice and snow.
Mortgage rates may increase. If you suspect a rise in interest rates within the next year, there’s no better time to invest in a home than the present. By closing during winter before rates have the chance to increase can be a clear winning strategy.