Buying a House in Winter
When it comes to winter time everyone seems to put a hold on looking for a new home. Is this the right move to make? Or should you capitalize on seasonality to get the best deal on your largest investment?
Below I will go into detail on the Pros & Cons of Buying a House in Winter.
Pros
For a disclaimer, this is my personal opinion on what I believe the pros are of buying a house in the winter months. These are based off of my experience buying/selling real estate in the Fox Valley area.
#1 Seller’s Have Higher Motivation
For some reason, sellers typically have more motivation around the winter months & end of the year. It could be due to the fact that property taxes are due in January or that they are sick of taking care of their current home. Winter brings out the true feelings that come along with home ownership in Wisconsin. If the owners are aging, they could just be tired of shoveling snow & want to a more maintenance free condo. The possibilities are truly endless, but I know for certain that you can get a better deal during this time.
#2 Less Competition
So many house buyers put their search on hold over the Holiday’s & winter months. This results in much less competition for those who continue to look. Already today, I have received messages from two Realtors stating that their client is putting their search on hold till after the New Year. Take advantage of this & make buying a house in winter your goal!
#3 More Time to Make A Decision
People in general are very indecisive because there are so many choices to go around. However, when it comes to purchasing a house you may not have that much “time”. For example, if you plan on buying in spring expect to have houses going above list price, in 24 hours or less, with multiple offers. This has been the spring market for the past 3-4 years and I don’t plan on seeing a slow down. However, if you plan on purchasing in winter, you may get an extra 2-3 days to make a decision. This doesn’t mean you should take that amount of time (houses can still sell quick), but it does mean that you will at least have an opportunity to think about the decision you are about to make.
Now onto the Cons of Buying a House in Winter…..
Cons
#1 Home Inspections are Limited
Home inspectors can & will still do a complete inspection during the winter, but there are some items that may be difficult to check. The first being the central a/c unit. This cannot be tested in weather under 50 degrees. So my advice is to possibly get a home warranty if the unit is 10-15+ years old. Another major item that may be hard to evaluate is the roof. If their is ice along the edges of the roof & a inspector can’t safely get up there he will have to do an evaluation from gutter level. This is only a factor when the roof pitch is extremely steep & unsafe to walk on.
#2 People Not Working
It is very typical for people to take vacation during the winter months & around the Holidays. This may limit you when trying to get into a property that just was listed. However, if your Realtor is on top of things they should be able to accomodate the showing request or appointment. I don’t mean for them to come back from vacation just to show you a house. I mean that they can have an agent in their office show it to you & help you out. I help agents in my office all the time & they help me so it is always a win-win situation.
#3 Moving in Bad Weather
We live in Wisconsin… we have 4 seasons & the weather is very unpredictable. In regards to bad Winter weather, you can always delay your move to another day. A closing date is always established in advance when writing the offer to purchase, but the property buyer can choose to move whenever they would like. Moving during the summer is not much different other then the fact that it is a few degrees warmer. Plan to move on a sunny & clear day to avoid all issues.
In conclusion, I hope you found this post valuable & insightful on the pros & cons of buying a house in the winter. It is really not as bad as people say, & in complete honestly, I would much rather go this route if I were buying a home.
For all real estate inquiries or needs please contact Carter directly at 920-252-2864 or fill out the form below.