If you’re thinking about buying a home, you don’t have to wait until the winter ends. In fact, you might find a better deal if you act sooner rather than later!
With kids out of school and more homes on the market, many house hunters find it most convenient to move during the summer. There are some clear advantages to waiting until after the peak-season has ended, however. No matter how active sellers were during the summer, the temperature drop typically signals a buyer’s market on the horizon.
The Birmingham area sees one of the steepest seasonal price drops in the U.S., so if you’re able to buy in the winter, you may see substantial savings. Here are a few factors that make braving the cold more than worth it:
By the time school bells start ringing, many families hope to be settled into their homes and are less likely to move. Buyer activity slows into the fall, leaving houses sitting on the market for longer stretches of time. As the market cools, sellers often adjust their prices to attract house hunters. Activity continues to slow into the dead of winter, and with fewer interested buyers, sellers are more willing to negotiate prices, contingencies, and other factors.
Go ahead and drop by any open house that gets your attention. Turnout is often lower for winter showings, so you’re more likely to score some quality face-time with the seller.
Time to bargain
Winter is the season of motivated sellers, homeowners eager to move sooner than later. They could be driven by a new job, growing family, or another life change that can’t wait until spring. If someone lists their home during the winter months, they can either incentivize potential buyers or risk letting it linger on the market. It’s a great opportunity to make an offer below the listing price or ask the seller to throw in a home repair you’d have to do yourself.
Personnel are available.
As fewer homes are moving on the market, industry professionals will (ideally) be more available. Agents, appraisers, and inspectors should be easier to wrangle within the time frame you aim to work with. When the time comes to enlist the help of a real estate agent, we’ll be happy to refer one to you.
Having an inspector visit a property during the winter can also provide a preview of how the home stands up to harsh cold-weather conditions. You’re able to see what weatherproofing and maintenance you’ll be committed to if you move in.
Birmingham has already received recognition as one of America’s most affordable cities! If you feel that the time is right, give us a call. We’ll be happy to help you finance the home of your dreams in any season!