Nobody and I mean NOBODY, likes to move. Moving is annoying because you have to go through all your stuff and pack. It’s during this time that you find that you own way too much stuff and you wonder why you spent money on half of the stuff that you own when you don’t use it. So why would anyone choose to move into a new home during winter? The answer is because of the opportunity!!! Yes, buying a home during the winter months may be a huge opportunity for someone looking to buy a home.
Most people search for their new home in the spring and summer months. Since the majority of home buyers are searching for a home around the same time, it is very common to have more than one buyer submitting an offer on a home. Home buyers usually have one chance to submit their highest and best offer on their desired home, which may not result in them winning the bid. Why not shop in offseason and avoid shopping for a home in a competitive market?
Shopping for a home in the winter can be a good thing. If you find a home, it’s more likely that you won’t be competing with another buyer for the home. Also, the seller will probably not have multiple offers for their home and will be more inclined to negotiate with you.
You might ask, “But isn’t there a lack of inventory during the winter? Don’t people usually take their homes off the market during the winter months? Why would I shop for a home when I won’t have too many options available?” The answer is, yes, most people who have listed their home but have not sold it before winter will take it off the market until springtime. BUT there is always an opportunity.
If you come across a home you like that was previously listed but recently taken off the market, your real estate agent should be able to reach out to the seller to see if they would be open to selling their home. Not only will you have an opportunity to negotiate a better deal on the home but you might also benefit from “off-season” rates for movers, year-end discounts on new furniture and appliances. The amount of savings you could realize from buying in the winter months might be worth your while.
Written By: Shena Omotola, Dream Home Specialist & Broker Owner of Skyward Realty – Skyward Realty services Chicago, Suburbs, and Northwest Indiana
P.S. Feel free to email me any questions. I’m always here to help. Shena@SkywardRealty.com