People typically gravitate towards buying their new home in the spring or summer, when the weather is great for both house hunting and moving. Winter poses some extra challenges and also extra stress. However, did you know that buying in this colder season has a number of advantages? It is the time of year where the buyer has much more leverage than the sellers. Here’s a few reasons that make winter the best home shopping season.
One of the most stressful things to deal with when searching for a new home is competing with other buyers on the market. It’s quite the commitment to house hunt in below freezing temperatures. However, the reduced activity in the winter will mean it’s less likely you’ll have to give up your dream home once you decide on it, since it’s possible no one else will even be looking at it. And this reduction is significant; while May through August account for 40% of existing-home sales, January and February account for less than 6%.
During the spring and summer, the demand for homes often exceeds the supply. However, the opposite is true in winter; home sellers are in much higher supply than the demand generated from home buyers. This gives all leverage to the buyer, where they will be competing with fewer offers and taking advantage of sales and price drops that coincide with the reduced traffic.
Sellers want their homes gone as soon as possible. The longer the wait, the more inconvenient on many fronts. The seller may be waiting on an important move, they may need the money, and they want to be rid of all of the responsibilities that come with selling a home. And likely, if they’re putting their home on the market during winter, it means they need it sold. Therefore, sellers are more likely to negotiate and give you a great deal at their own urgent expense.
Especially when moving an entire household of furniture and fixtures, you’ll likely be looking for some movers to hire and ease a lot of that burden. In fact, a vast majority of this burden can be alleviated by hiring movers. The good news on this end is that movers are typically cheaper and more readily available in the winter. Their schedules are usually jam-packed in the summer months, but need the business in the winter – really, you might be doing them a favor!
Assessing Home During Wintertime
An unfortunate reality of living in a place where it gets quite cold or snows is that your home is more susceptible to weather-related damages. When you buy in the winter, you’ll get to see how this tough season wears on the house. How is the moisture buildup? How well does the home insulate? What is the home’s energy efficiency? These are questions you otherwise likely wouldn’t know the answer to outside of the season.
Don’t wait to buy! The year is quickly coming to a close, and the time is right to find your new house. Your new home in Asheville is eagerly awaiting you!