If you can brave the frigid temperatures and snow covered driveways then you will find that winter is a great time to buy a home, and score a deal. This is because many would-be buyers put their house hunt on hold until the temperatures warm up. The homes still on the market in the winter time are owned by people that are motivated to sell as soon as possible. Along with that, home prices and interest rates are likely to increase as summer comes along.
4 tips for buying during the wintertime:
1. Be assertive. Just because there are fewer buyers doesn’t necessarily mean there is no competition. The buyers left in the winter market motivated in finding a house and a deal as you are. Additionally, if a home is particular nice, it will be on other buyer's radar as well. So, we recommend moving on a home if you like it, and offering your best and highest because the home will most likely have multiple offers on it.
2. Be over-prepared.
A pre-approval is necessary in today' competitive market. A seller will not take an offer seriously without it.
3. Get a heating preview.
One system that you can inspect thoroughly during the winter is the heating. While touring potential homes, note if you feel any drafts, which could indicate faulty or old windows or doors that should be replaced—on the seller’s dime.
4. Wheel and deal.
Your Realtor is there to negotiate on your behalf and get you a lower offer accepted as well as extra money thrown in for needed repairs. They will represent your best interests to ensure you walk away happy with your new home- key in hand.