Generally, most home sales occur in the spring and summer, when warmer weather brings people out. Open houses, home inspections, and moving are more enjoyable. However, it is possible to reap some significant benefits when you purchase a place in the winter. While February may not be the month that most sellers list their homes, there can be many benefits to buying a home this month.
Despite the cold weather, it’s an excellent idea to investigate winter real estate if you want to get a leg up. As a matter of fact, there are several reasons why purchasing a home during the winter is advantageous! Here are six things to know about buying a home in February.
The fewer buyers competing for the home of your dreams, the lower the chances of a bidding war, and the greater the likelihood of your offer being accepted.
You’ll have an advantage over everyone else crowding the summer buying months. Not only that, prices tend to be more reasonable during the colder months, giving you a bit more room for negotiation. That doesn’t mean there will be no buyers. Park City is always a popular winter destination–meaning there are buyers year-round. But February is an excellent time for house hunting here!
The first quarter of the year is usually when companies relocate employees. This surge in relocations prompts motivated sellers and buyers to close faster. Negotiating things like closing costs and household appliances might be easier. Park City doesn’t have many corporate employees here full-time, but many executives being moved overseas or across the country may list their Park City vacation or second home.
Faster Home Closings
The process for closing on a home may be a bit faster in the winter compared with the summer months. Mortgage brokers are generally less busy during the winter, so you may have a shorter wait time – and move into your new house sooner.
Many real agents are less busy during the winter too. If you decide to buy in the winter, your agent can often assist you in seeing more homes.
Despite the many benefits of buying a home during the winter season, there are a few other important things you should keep in mind when trying to decide if it’s the right time for you.
Home Inspections can be an Issue
The weather can prevent certain outside inspections from taking place, and some examinations may be deferred due to weather problems, which could potentially delay closings.
For example, Septic tank inspections can’t be conducted when the ground is frozen. A snow-covered roof might be a problem too. Landscaping issues might be covered up. So it’s more critical than ever that you ask questions and be aware of any problems.
An Experienced Real Estate Agent is Even More Important
This is why an experienced real estate agent is so important when it comes to purchasing a home in the winter. An agent who has been in the local market for years–or decades–will know exactly what issues to look out for when purchasing and examining a home during cold, wintery conditions.
Consulting a trustworthy and dependable real estate agent to help you find the best home for your needs in all four seasons.
Buying a home in the winter can mean a number of different things depending on your location, so consulting a trustworthy and dependable real estate agent will give you the peace of mind you need so that you’ll never be frightened by the myths about the “off-season” in real estate.
If you live in the Park City area, consider using Jensen and Company for all of your real estate needs. No matter what season you are buying a home in, the important thing is making sure you have a team you can trust that will guide you through the process and make the process stress-free.