Is Winter a good time to buy a House?…Maybe

You know, as much as people might not necessarily want to agree to this, there’s a certain code we prefer to live by. “Never follow trends; rather always set them” or “look into the collection of the unexpected”… except you’re looking for a safe bet, which ofcourse is nothing to be ashamed of.

Such an advise would apply inexplicably to the realm of housing and real estate purchasing. Now we would like to state that we aren’t professionals, but according to research and sheer common sense;

 

The winter time of the year, is the best time to purchase any real estate property across the board. This time of the year if utilized properly holds factors that will aid the ease of your purchase and grant you natural testing for free; Don’t worry. Not understanding is not a terrible thing. Let’s break it down, shall we:

 

There is a stronger chance for lesser inflations and better deals

Cheaper doesn’t always mean better, but sometimes it doesn’t hurt to have a little bit of cash saved for other expenses. According to ahs.com, there usually is a 0.51% decrease in pricings (Mind you, this could be higher or lower depending on other factors). 0.51% obviously wouldn’t feel like much, however, as specified earlier, it could be higher or lower.

On a usual basis, 0.51% of a pricing could potentially translate to thousands in your currency. Due to the forced conservation winter forces on people, potential buyers and customers, buyers are tempted to drive their prices slightly lower to entice “still available” buyers. On the other hand, buyers can also negotiate prices to lesser values to have their way. All of which tails back to the climate.

 

You get to experience natural testings’

Now this a weird notion but here me out, when purchasing a home or a property during the summer or spring, you’re buying the home within the best possible conditions. However, buying a home in the worst possible climate shows you certain defects if there are any; it also translates the strength of property by showing how much it can restrain and hold up against harsh conditions.

Shopping during the winter also shows how well the surrounding facilities such as roads, neighborhood watches and maintenances are taken care of. Basically seeing the property at it’s worst state possibly or seeing the property under bad conditions will enlighten you on what exactly you’re purchasing.

 

Frontal spending by others will reduce the chances of being outbid

The months, November through December are arguably periods where people exercise frontal spending i.e. they spend all or an heavy percentage of their money leaving them refrained and unable to bid for houses until they recuperate their financial strength.

Hence, when you bargain with a home seller or real estate dealer during this period, you have a higher chance of maintaining your bid since there won’t be too much competition. The lack of competition allows ease of purchase and lesser spending.

 

 

It’s be easier to hire movers

Exaggeration or not; no one can deny that it’s plausibly a terrible idea to move during the winter. It can be dreadful IF not well planned. However, it can be done; especially when there is an adequate plan and methodology on how to get your luggage moved. The fear of going through anything dreadful and the conservativeness of the season leads into the huge lack of traffic when compared to summer or spring.

At this time, you are able to plan, coordinate and deliver your belongings properly without having to fight to get a moving company. it may be possibly cheap too.

 

Last minute tax savings is a possible benefit

Buying a home during the winter, preferably the part that goes towards the end of the year; you might a get few months of potential tax deductions. This is especially possible if it is your first home. According to realtor.com, it is said the holidays can and is a potential buyer’s last chance to get a home and use it as a tax right-off. You should consider speaking to a professional before trying to implement such strategy.

 

Median sale prices are a relatively lowest and as they also last longer

Month  (%) Percentage of home selling above list price Median sales price at closing Median days on market before closing
January 23% $254,914 104
February 24% $260,086 101
March 26% $261,386 86
April 26% $262,475 73
May 25% $260,629 68
June 24% $307,571 67
July 22% $259,000 70
August 20% $264,143 75
September 19% $266,029 81
October 17% $262,943 84
November 15% $270,571 87
December 16% $275,329 95

Based on the American market

Source: Financialsamurai.com

 

winter

 

SOURCES / REFERENCES

https://www.ahs.com/home-matters/real-estate/five-reasons-why-winter-is-best-time-to-buy-homes/

https://www.financialsamurai.com/winter-best-time-to-buy-a-house/

https://www.realtor.com/advice/buy/buying-a-home-in-the-winter/amp/