2020 has arrived and perhaps your New Year’s resolution is to buy your first home or move into a home that fits your life better. Many people will tell you that you are better off waiting until summer to start looking for your perfect home. While it may be true that there are certain advantages to buying a home in the summer, there are also advantages to buying a home in the winter. It all depends on what you are looking for and what your situation is.
This post discusses the advantages of buying a home during the winter. Buying a home is a deeply personal process, which is why you need a realtor that is willing to give you the time and attention you deserve. If these advantages seem like they will help you find the home of your dreams, then don’t wait until summer, contact us today!
Sellers Are More Motivated to Sell Now
One of the biggest advantages of selling during the spring and summer is that there are more houses on the market, which means more selection. More selection means more competition. More competition means higher prices. So as a seller, if you are not willing to wait until spring to put your house on the market, then that means you need to sell your house now. When sellers are motivated to sell, buyers have more leverage.
In the summer, typically the seller has an advantage because they have what is in short supply — a home. In the winter, the buyer has an advantage because buyers are in short supply. Because there are less buyers, you will have less competition and most likely, the seller will have less offers. That means there is much less pressure to rush to be the very first person to contact a seller the moment they put their house on the market. You can take more time to set up a showing that fits your schedule as opposed to taking a sick day at work just to make sure you are the first buyer to submit an offer. Overall, less competition means lower prices and less stress.
Median Sale Price is Lower
In the housing market, the median prices for homes begin to drop starting in the fall and stay low until the beginning of spring. This price difference can be as high as nine percent and can make a real difference in the quality or square footage of homes available according to your budget. By avoiding the bidding wars and multiple contracts that come with summer realty, it’s likely that you can pay less for the home you buy if you close in the winter months.
More Time With Your Realtor
Because the summer months see more homes being bought and sold, realtors can become extremely busy during this time. That’s not to say that realtors will do a bad job advocating for you in the summer; however, it may be true that your realtor will have less time to invest in helping you find the perfect home and setting up multiple showings for you. By choosing to buy a home in the winter months when realtor’s schedules begin to free up, it is likely that your realtor will be able to give you more attention and spend more time helping you find homes that fit exactly what you are looking for.
Contractors Are Easier to Find
The easiest time to do remodeling projects — big or small — is immediately after purchasing the home and before you have moved all of your belongings in. Unfortunately, summer is also the busiest season for contractors. This means that finding a quality contractor that has time in their schedule to take on new projects will be a more difficult process. By waiting until winter, you will make it much easier on yourself when trying to find contractors to fix issues with your new house or to take on remodeling projects.
Market Conditions Are Less Stressful
As previously discussed, having less homes on the market, less buyers, and less sellers makes many parts of the home buying process run much smoother. When buying a home in the middle of summer in a market as competitive as Sedona, buyers have to move very fast in order to secure their home. This can mean not having the time to get proper inspections or appraisals that can give you confidence that the home you are buying is in as good condition as advertised. It can make the entire process feel rushed and chaotic. Avoiding that rush may be reason enough for many buyers to wait until after the summer months to begin looking for a home to buy.
While many realtors will argue that summertime is the best time to buy a house — and there are certainly valid reasons for this — that does not necessarily mean it will be the best option for you. If you are looking for a less stressful home buying experience, and you have the luxury of being able to wait a few months, then perhaps buying your home in the winter is a better option.
The most important piece of advice is to find a realtor that you can trust who will tell you all of your options instead of trying to push you into something you are uncomfortable with. By contacting us, you can rest assured that we will do just that. We hope to hear from you soon!