Buying Real Estate in the Winter 

 

 

Yes it is true, the real estate market slows during the winter, but it may provide many opportunities for winter home buyers.  Although moving during a snowstorm or looking at a property that is covered in snow may have some disadvantages, it can be very advantageous for those shopping at that time of year.

Wouldn’t it be great to have complete control over the closing date when buying or selling?  The reality is that life brings about many surprises and circumstances that may force us into buying or selling at any time of year.  But let’s look on the bright side, there are many good reasons why shopping for a home in the winter can reap great benefits.  Here are some...


Fewer Buyers
It’s true; most people would prefer to shop for a house during the lovely weather we experience in Newfoundland during spring, summer and fall.  But as a winter buyer, you have fewer buyers competing for the same inventory of homes.  This means that it is less likely that you will have a competing offer giving you a hand up in the negotiation.  It is simple supply and demand that can work in your favour and produce a great real estate deal.

Motivated Sellers
With a slowing winter market, finding a home with a motivated seller that must sell fast will create a great opportunity for you.  With this in mind there may be room for more negotiation potentially producing a better price than a hotter summer market.  It will also lead to more control over the closing date and other important terms of the deal.  If you have listed a home for sale in the past, you may already be aware that winter is not the best time to be selling.

Winter Perspective
Buying a home in the winter gives you the experience of how the home feels in the colder season.  Were you cold walking through the house, were the floors cold or windows drafty?  Shopping for a property in the winter lets you better evaluate the heating system and get an idea for how energy efficient or comfortable the home may be.  The property may look bleak or feel grey during that time of the year, but just imagine how beautiful the yard will be in the spring and summer when everything begins to bloom.

Better Access to Industry Professionals
REALTORS®, mortgage providers, lawyers and home inspectors all get busier during the warmer months when more people are buying and selling.  During the winter, these professionals may have more time to offer you their undivided attention.  Keeping the buying process running smoothly for every client is easier when the phone is not ringing off the hook.
Sure, hauling on your winter coat, shoveling the driveway and brushing the snow off your car seems like a lot of work to get out and view potential homes.  However, you can clearly see this bit of extra effort may mean the difference in the next great real estate deal.  So grab your mitts, let’s go house shopping!

article by: Richard Butt