Don’t hibernate on real estate this winter
Many people believe spring is the best time to buy a home, but winter is a great time to make a purchase, especially in Rhode Island. While the weather may not be as inviting, there are several advantages to buying a home during the winter months. Buying a home during winter can be a smart idea, from better deals to reduced competition. Here’s 8 reasons why.
1. Lower prices
During the winter months, fewer buyers are in the market, meaning fewer bidding wars. This decreased demand may lead to lower home prices, saving you thousands of dollars in the long run.
2. Sellers are motivated
Sellers who have their home on the market during the winter months are generally more motivated to sell. They may be relocating for work or simply trying to get their home sold as soon as possible. This motivation can give you more bargaining power when negotiating the sale.
3. Faster closings
With fewer buyers in the market during winter, Rhode Island lenders and title companies are not as busy. This can lead to a speedier homebuying process, which means you can move into your new home sooner.
4. The winter holidays
Many people are too busy to focus on buying a home during the holiday season and winter months. However, this can be an excellent opportunity for you. Since fewer buyers are in the market, you’ll have less competition for the available homes.
5. Seeing homes in the worst conditions
In Rhode Island, we get all types of weather and when you view a home during winter, you can truly appreciate how it will perform year round. You’ll see things like how well the home is insulated, how well the heating system works, and how the roof handles winter weather.
6. More attention from your real estate agent
Since fewer buyers are in the market during the winter months, you’ll likely get more attention from your real estate agent and other third parties involved, including your mortgage professional. They may have more time to spend with you and can work more closely with you to find the right home.
7. Better home selections
Since fewer buyers are in the market during winter, fewer homes may be sold. However, the available homes may be exactly what you’re looking for. Sellers who list their homes during the winter tend to be more serious about selling, which means you’re more likely to find the right home for you.
While the winter months may not seem like the ideal time to buy a home, they can be advantageous. There are several compelling reasons to buy a home during the winter, from lower prices to better service. If you’re looking for a new home, consider taking advantage of the opportunities available during winter. Don’t let the cold weather keep you from finding your dream home. Happy house hunting, and when it comes time for the financing, contact one of our loan officers for a fast-track pre-approval!
