7 Reasons Why Winter is the Time to Buy
Many of the people that we talk to believe that the real estate market all but dies after Halloween. While it is true that some sellers take their homes off of the market during the holiday season, it can be one of the best times of the year for buyers. Here’s why:
- Sellers Are Serious – Think about this; most people don't want strangers wandering through their homes during the holidays. Serious sellers can’t afford to play the seasonal market, or they need to move their home to get to the next phase of their lives. What does this mean for you? It means that you might be able to get a better deal than you could otherwise achieve.
- Less Competition from Other Buyers – If you haven’t noticed, inventory is at a dramatic low in the Midlands, and when inventory gets low, the demand for homes rise. When this happens, the best houses are fought over through multiple offers. If you buy during a quieter time of the year, there are less buyers looking and you can land the home you want, without another buyer forcing multiple offers and possibly a higher price.
- Tax Returns – If you are one of the fortune people who overpay their taxes all year to get a nice check come first of the year, you can spend that money wisely and put it towards your down payment or costs associated with your new home. Often times the seller will pay your closing costs, and depending on where in the Midlands you are looking, you may be able to find a home for little to no money down.
- Great Deals on New Construction – Builders are business people and like most businesses, they end their calendar year on Dec. 31st. What do businesses like to have off of their books by the end of the year? Inventory! We have seen builders make incredible deals, take lower offers, or throw in bonus items as long as you are willing to buy their home before the end of the year.
- Want To Build Your Custom Home? – Most build jobs take 4-6 months to complete, and most people aren’t thinking of June in December. Now is the time to get the house plans in order so you can move mid-year. Couple that with an empty lot and you can take advantage a great deal with a builder that fits your timeline.
- Down Payment Assistance – There are tons of great programs out there that can help with your down payment. Whether you are a Police Officer, First Responder, Firefighter, Veteran, Active Military or looking in certain areas (usually rural), there are a number of down payment assistance plans available. What you may not know is that most of these programs are funded Jan. 1st and are available until they run out of money somewhere in the early Fall. So, beginning your home buying process just after the 1st of the year ensures there is money ready if you can take advantage of it.
- Vendors aren’t As Busy – When we are in the thick of the Summer, everyone is busy: Lenders, Attorneys, Inspectors, Surveyors etc. When you close in the Winter, everyone tends to have a little more time to focus on you, ensuring that you are getting the best possible experience.
These are just a few of the many great reasons to buy this Winter. For more information, contact us for a personal meeting to discuss your needs and to see how we can help!