Should I BUY a House in the Winter?

Are you looking to buy a home this winter but you're not sure if it’s a good time to buy a home in the winter? We're covering all the pros and cons of buying a home in the wintertime in this blog in detail so you can make a decision if it makes sense for you to buy a home right now in the wintertime, or if you should be waiting till the spring and summer.

You might be having to buy a home right now in the wintertime for certain reasons, so maybe it makes sense for you and you have to.

What are the Pros and Cons of Buying a Home in the Wintertime?

There are going to be very motivated sellers during the winter time that are selling their home. Perhaps you're buying because you have a strong motivation and desire or need to buy a home. While on the flip side, sellers are going to have the same motivation.

They're selling a home during the wintertime because they have to. There's some financial incentive for them to sell a home. Perhaps it's a divorce. Perhaps there's a tax implication. Perhaps it's job relocation or potentially a job loss, unfortunately. There could be many reasons why a seller is deciding to sell a home, especially during the wintertime.

It means you're highly motivated, so it means they need to sell a home. What does that mean for you? It means there's opportunity to buy a home during the wintertime and potentially pick up a deal, potentially get the seller to cover closing costs for you so you're coming up with less money out of pocket that could save you $5,000-$20,000 or potentially get a little bit better deal on the price. A lot of opportunity there for you during the wintertime because of motivated sellers.

The other thing is there are going to be fewer homes available on the market. Less inventory, less homes to choose from as opposed to spring or summer. That's kind of a con less opportunity, less homes to choose from. However, the big opportunity here is that there are also less buyers out there looking for homes just like yourself.

You don't really want to have to buy during the winter if you don't have to. You got to deal with friends and family during the holidays, during Thanksgiving, Christmas, New Year's. It's kind of a pain to move during it. We get that, but that's the same thing that other buyers are thinking too.

There's less competition out there, and so you're not going to have to be competing as much with multiple offers. Other buyers submitting, you're get countered. You have getting your price driven up like often happens in the spring and summer.

And then there's opportunity for closing costs to get covered as well, because there's not as much competition. Winter time can be a really fantastic time to buy because there are fewer buyers that you're competing against as well.

If you're looking to buy during the winter time, those are the main pros and cons of buying during the winter, which are, as I mentioned, highly motivated sellers and especially less competition of other buyers.

And therefore, opportunity to get a lower price, get closing costs covered. But there may not be as many homes available to purchase as well as compared to the spring or summer.