Did you know that the United States Department of Agriculture provides home loans through participating…
Thinking of buying a home, selling a home or maybe even both during this winter season?
While the weather outside can be frightfully chilly ❄️ during this time of year, the market is staying hot ☕ for buyers and sellers alike. Here’s a few of the top reasons why you should consider buying or selling your home this winter:
1. 🔼 Higher Motivation.
As temperatures drop, more and more window shoppers are taking a break from searching and are instead choosing to cozy up indoors until the influx of homes go on the market in spring. With less buyers on the search, sellers are more motivated–for buyers, this means you’re not only more likely to snag a home, but also a great deal on one. For sellers, you may have less foot traffic with window shoppers staying home, but this means the buyers you do have are serious. With limited market options, buyers face the chance of losing out on a home and thus are more motivated to put in an offer ASAP.
2. 🔽 Less Competition.
According to BankRate.com, the busiest times for home sales are spring and summer with 40% of annual home sales happening between May and August. So, what exactly does that mean for buying and selling a home during winter? Well, lower inventory = less competition. Sellers have a greater chance of getting their homes off the market during this time as there are less sellers to compete with. Buyers have less offers to counter and are more likely to lock down the perfect home with less buyers looking to settle down in winter.
3. 💰 Financial Perks.
‘Tis the season for giving! The beginning of winter falls close to the end of the year. You know what else does? Performance reviews. For many companies, this is the time of year to reward employees for their hard work with end-of-year bonuses and payouts. Sellers rejoice: this means a lot of your motivated buyers will have more money in their pocket to spend on a home! And buyers: if you ask us, there’s no better use for that extra cash than using it towards a down payment for your home! The end of the year also signifies tax season. For first-time buyers, this is a plus! By buying a house in winter, you have the chance of adding in potential tax deductions onto your returns.