If you’re looking to buy a home, it can be a long difficult process. You need to find the right size, the right neighborhood and the right price. That can take time and if you’re buying in a hot housing market, there might be stiff competition for the property you want.
Cliffco Mortgage Bankers Can Help You Achieve Home Ownership
Cliffco Mortgage Bankers is committed to helping our customers achieve the dream of home ownership. We know that there are times when finding a home isn’t easy. Home sales tend to be heavier in spring and summer, but now that we’re entering the cold weather seasons of autumn and winter, you may be wondering how the change in weather changes the housing market. Is it a better time to buy? What are some of the advantages and disadvantages to buying during the cold weather months? We want to let you know how the coming months can affect your chances of buying a home.
Winter Improves Your Home Sale Odds
According to Time, cold weather does improve your chances of avoiding a bidding war do increase in fall and winter. The hot season for home sales is our hottest season as 50 percent of homes are sold in summer. Meanwhile median home prices tend to drop with the temperature.
“Some of this is driven by the types of houses that sell in the winter months,” says Lawrence Yun the chief economist for the National Association of Realtors. “Families with school-age kids often account for larger, pricier homes, and they prefer to buy in the summer when kids are out of school.”
Other Pros and Cons to Winter Home Buying
So you may be able to find better deals during winter months but it will involve uprooting your family in the middle of the school year. There are other issues that could be troublesome, according to the home improvement website The Spruce. Prices may be lower, but inventory may be lower too. This means that the quality of homes you’re seeing in the winter may not be up to what you’re looking for.
But there are plenty of positives too. For example, sellers might be more motivated. If they’re putting their home on the market in the winter or autumn, it could be because they have a job offer and need to relocate sooner rather than later. That means they might be more willing to negotiate for a lower price than they’re asking for. Real Estate agents are also more motivated. Remember it’s the slow season for them too. They may be more willing to make a deal to keep their commission coming in.
Another positive when you’re looking for a house in winter is that you’ll get to see how the home operates in the cold. If it’s drafty or there’s a lot of ice buildup on the roof, you’ll know right away.
Cliffco Can Help You Finance Your Dream Home
As you can see, you can find bargains in the colder months, but the housing market is not without limitations. Whenever you buy a home, Cliffco Mortgage Bankers can help you find the right loan to finance it. To learn about your options, contact us today.