Many homebuyers believe that buying a home during the winter months is harder than it is in warmer months. While there may be fewer homes listed during this time of year and the number of open houses may be limited, it is still possible to find the perfect home for you during the off-season. One of the major benefits of home shopping during the off-season is that there are fewer people competing for the same home as you. This is also a great time to purchase the home of your dreams for less money than you may have paid during prime home buying months. Sellers are more inclined to lower their asking prices during the winter months, which translate to bigger discounts for homebuyers.
With the benefits of buying a home during this time there is also a downside as well. The number of available homes may be limited, which narrows down the available choices for prospective home buyers. This is partly due to the fact that not many sellers are willing to add the stress of the selling their home to the stress of the holidays. But there are available homes out there; all you need is a little bit of patience and a real estate agent who knows where to look.
If you are lucky enough to find a home in the off-season it is a great time to make an offer. Since interest rates are at record lows, you may be able to afford more home now than you may have been later or before the housing crisis hit. Lenders are also more flexible in the off-season as well. Many lenders may offer to cut fees in order to get your business. Just because it is the off-season doesn’t mean you won’t be able to find a home that meets your needs. Keep your options open and you may be surprised by what you find.
When looking for homes during the winter months you may want to look at homes that have been sitting on the market for a while. These homes may have been sitting simply because the sellers may have ignored their agent’s advice and left the homes cluttered. This may have caused the homes to sit for an extended amount of time, leaving these sellers willing to negotiate when it comes to price. Regardless of the time of year, these sellers may be desperate for a way out and are often willing to consider any reasonable offer that may come their way.
Buying a home in the off-season is not a hopeless task; there are many great homes out there that may be suitable for your needs. You may also get lucky and find a home that is more than what you expect. The main thing to keep in mind is to not let the time of year discourage you from your home search.