New Year, New House – All About Winter Home Buying

Spring and summer are the more popular seasons for buying a home. But don’t dismiss the winter season if you are looking to buy a home this year. The start of a new year can offer great deals. There may be less supply of houses for sale and also less demand. Here is what that can mean for you as a buyer:

January Brings Bargains

The length of time a home is on the market is directly related to the price of the home. The average home that sells in May is on the market for 68 days. Compare that to January where the average house sits on the market for over 100 days. The longer wait time for the seller can explain why January median closing prices average at $255,000 whereas in June, the median closing price is significantly higher at $308,000.

Winter Exposes the Weaknesses

In many parts of the United States, especially Ohio, winter is likely to put the most stress on a house than any other season. This is the best time to recognize the weaknesses of a potential home. In spring or summer, you may not notice how drafty the windows are. You may also not be thinking about the condition of the driveway or other parts of the exterior and the obstacles that winter weather brings. Looking at a home in the winter can expose the cons that would not be as apparent in the warmer seasons.

Hiring Moving Help

Moving in the winter can sound very unappealing when you think about the possibility of harsh winter weather on moving day. What you may not be thinking about is that professional moving help is more readily available. Moving companies busy season tends to be Spring and Summer. They are likely looking for more work during the colder months which leaves you some room to negotiate a good deal!

The Best Time is When You’re Ready

The best time to buy a home is always when you feel 100% prepared. If you’re looking to buy in 2020, don’t overlook the winter season. These are just a few perks of buying a home in the slower season. Bridge is always here to help you with your mortgage needs year-round. Click here to learn more and get started.

 

Equal Housing Opportunity Lender. Bridge Credit Union NMLS# 402575. Federally insured by NCUA.

 

 

 

SOURCES:

https://listwithclever.com/real-estate-blog/5-things-to-know-when-buying-a-home-in-january/

http://ngarealty.com/three-reasons-better-buy-home-winter/