By Lizzie Weakley
Instead of decorating your home for the holidays, why not buy a new one? While winter is part of the off-season in real estate, many buyers find that it's the perfect time of year to buy the home of their dreams. After all, you'll have a lot more fun decorating a new home than your current one. Here are some reasons to consider buying real estate in the off-season:
More people choose to move during the spring and summer months than at other times of the year; therefore, when you choose to buy in the winter, you have fewer people looking at properties. This ultimately means you'll be up against less competition as you search for your new home.
Low Figures Accepted
When you buy during the off-season, you may be surprised that people accept your low bid amount. People don't want to wait long to sell their house, and they'll often settle for less during the winter. Most sellers who list their home in the winter are motivated to sell. Since there are fewer purchases being made, you can also usually get home inspections done at a faster rate, and mortgage companies may speed through your paperwork.
Your real estate agent only has 24 hours in their day. During busy times, those hours must be divided among more clients. During slower periods, however, the agent can focus more on your needs and desires. This allows them to find you the perfect property without having to see properties that aren't suitable for your needs. Most experienced real estate agents can tell amazing stories of houses that they saw sell during winter at a low price because the seller didn't want to wait until the warmer months.
Approximately 30 percent of home energy is spent on heating and cooling a home. When you buy in the winter, you can find where the cold drafts are in a prospective home, allowing you to insist that they are fixed before you buy the home. Alternatively, finding these drafts quickly and fixing them yourself allows you to save money quickly. Fixing a draft may be as simple as applying weatherstripping to a gap.
There are many reasons not to wait until spring to buy your home. Buying in the off-season when not as many people are looking often allows you to get a home that you want at a lower cost. Then, you can be singing "I'll be Home for Christmas" this year!
Lizzie Weakley is a freelance writer from Columbus, Ohio. In her free time, she enjoys the outdoors and long walks in the park with her 3-year-old husky Snowball. If you're in the market to purchase a home, Weakley recommends PRDnationwide.