There’s a common notion that the houses on sale during winter are scraps from previous seasons due to being overpriced or some other reasons. But this might be your perfect chance in saving most of your thousands as the winter season (December to February) offers the lowest prices than any other time of the year.
Pros
1. Few Competition
Just when you think that there were quite a few buyers to compete with last fall, their population becomes lower during the winter. This is because people have already bought houses to avoid the holiday rush or people don’t want to go outside far too often just for house hunting, inspection, meetings with the seller, etc.
2. Sellers Are More Driven
Indeed, there are people who had listed their houses for sale and are pressed with time. Maybe because they need to relocate for work or other personal reasons. When winter kicks in, buyers tend to have more bargaining power and sellers will offer discounts just to make the sale.
3. Sellers Are More Attentive
This results from having fewer buyers in such a cold season. Home sellers will have more time to listen to your suggestions and recommendations pertaining to the appearance of the house, necessary repairs, closing costs, etc. This is the time for you to bring out your negotiating skills.
4. Apt Time for House Inspection
The only time that you will know whether the house is durable even in the harshest weather is during winter. Many buyers overlook this but when you do a house inspection, you are then oriented whether the heating, piping, and insulation systems installed by the current homeowner are up to standard.
Cons
1. Fewer Options
The housing inventory available in the market is now smaller than the past season. The lowest is at December and gains bit by bit as spring approaches.
2. Move In Hassle
It’s not uncommon during winter to have inclement weather leading to freezing temperatures and thick snow accumulation. You may find inspection and transferring to be disadvantageous during this time especially when you have a ton of possessions.
Conclusion
Sellers are highly discouraged to put up their houses for sale at the start of winter. But for the buyers, it’s the exact opposite. They are encouraged to buy as sellers during this time are motivated to make the transaction given their personal motivations and other reasons. As a result, the sellers that you see on house listing websites are more serious and even driven to give you discounts and better deals.