Reasons to keep looking & buy a Home during the colder months, aka Winter!
- Less Competition: May through August make up 40% of the existing home market. So, when you are home shopping, this would mean it’s not going to be likely that there would be bidding wars. This also allows you to be more selective and not rushed while you are looking. Less Stress!
- Sellers are motivated: People that put their homes on the market this time of the year, it’s usually because they need to. This would mean they are serious sellers and there is a deal to be had. As the buyer you will want to check how long the home has been on the market and this will give you the ability to make an appropriate offer. However, you don’t want to low-ball them or make extreme demands as this may sabotage the purchase. You will want to consult your 4 Sale Real Estate agent on what will make the offer and purchase portion process go the smoothest.
- Checking it out and putting the home to a test: Winter puts stress on the home which gives you the perfect opportunity to evaluate the property under the worst conditions possible. You will be able to check the function of the furnace or heating elements, check for drafts and leaks with the windows and doors, and checking out the driveway for how that will be to shovel.
- Hiring movers is easier this time of year: Obviously since the demand is so much lower this time of the year booking with moving and rental companies should be much easier and with a few days either side of moving day for flexing for delays or dates/times, changing. You may also ask regarding any specials or discounts on your moving package or rental due to the season to be the most attractive and ultimately chosen option for you. They will want your business.
- A nice tax deduction, depending on your State: This is also a great time to squeak in a nice tax deduction before the end of the year. Depending on your local laws, you can deduct mortgage interest, taxes, and points. Consult your tax professional to see what works for you.
- Homes generally close quicker with less demand: During the Holidays and winter months, things slow down by 25-30% for your mortgage broker, leaving their schedule wide open to assist you with a swift closing. Good news right!
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