Advantages of Buying a Home in the Winter
Don't wait until Spring!
We've shared how to find a hot deal on a home purchase in the summer, but many clients often ask me when the best time of year is to purchase a home. Many people say that it's crucial to buy a home in the spring or summer because you have the most options to choose from but the reality is that people buy and sell homes all year. What a lot of people don't realize is that buying a home in winter can actually have a lot of advantages that you might not even have considered.
One of the biggest advantages to buying a home in the winter is avoiding competition. With most people focused on the holiday season, there is less competition for homes. In today's bidding war-centered real estate market (and in Cambridge and the GTA especially) this takes a lot of pressure off the buyer and can help them make more cool and rational decisions. This helps prevent buyers from getting caught up in a heat-of-the-moment bidding war and paying more than intended.
Although less homes are listed in the wintertime, people selling their homes may have a higher motivation. If the home has been listed for a while, the seller may also be much more receptive to offers for the sake of closing the home, and if the homes is sitting vacant they will really want it to sell quickly. Maintaining a home in the winter is a lot of work, especially when you need to make sure everything is in working condition. Buying a home in the winter might actually end up saving you some money.
Buying a home in the winter also gives buyers a good idea of what's in good working condition and what's not. Sure, a home might have better curb appeal in the summer with full trees and blossoming flowers, but the winter is when the heating system, plumbing system, windows, roof, and gutters are really put to the test.
Another big advantage to buying a home in the winter is that your mortgage will be processed quicker. Less people buying homes means less people waiting on the bank for their mortgage to go through. This also applies to hiring movers - less people moving means you'll be able to book your movers without worrying they will be booked up. You might even get a discount on the services!
The truth is, you'll also save yourself a lot of time and energy because there are simply fewer homes to look at. So, if you're willing to get a little slush on your moving boots I would highly recommend not putting your search on hold through the winter.
Have you ever purchased a home in the winter? Share your story below in the comments, or post it to social media and tag @dewarrealtyinc
If you are looking to buy a home this winter, I would love to help you with this journey! As an experienced local Realtor, I know the Cambridge, Guelph, and KW Area better than most - together we can find the perfect home for you.
If you are looking to sell your home in the coming months, I would love to help you with that too! In fact, at Dewar Realty we Guarantee Your Home SOLD in 15 Days, or I'll Pay You $10,000!*. Contact us today.
*conditions applyPosted by Greg Dewar on